Question

Which of the following is a reason you want to have multi-criteria analysis as a tool in your decision-making toolkit?

a) multi-criteria analysis is intuitive
b) multi-criteria analysis enables you to quantify qualitative issues
c) multi-criteria analysis is widely applicable: that is, you can use it whenever decision-making requires comparing options
d) multi-criteria analysis invites you to do disciplined homework so that you make a good decision
e) all of the above
f) only a, b, and c

Answer 1

Multi-criteria analysis is an essential tool for decision-making as it is intuitive, allows for the quantification of qualitative issues, invites disciplined analysis, and is widely applicable for comparing multiple options.

Step-by-step explanation:

One of the reasons you would want to include multi-criteria analysis in your decision-making toolkit is that it is a versatile method that enables you to handle complex decision-making scenarios systematically. Specifically, multi-criteria analysis:

• Provides a structured approach for comparing options, making it a disciplined technique that helps you make a well-informed decision.
• Enables you to quantify qualitative issues, assigning value to factors that may not be directly measurable in monetary terms, such as customer satisfaction or employee morale.
• Is intuitive and widely applicable across various types of decisions where multiple criteria need to be considered.

Thus, the correct answer is e) all of the above, as multi-criteria analysis encompasses all these aspects, contributing to its effectiveness as a decision-making tool.