Ch 3: Business Organizations & Decision Making

About This Chapter

Use these video lessons and quizzes to learn about the decision making process in business organizations. Get information on entrepreneurs as well as types and structures of business organizations.

Business Organizations & Decision Making - Chapter Summary and Learning Objectives

The job of a manager in business is to make decisions. In this series of lessons, we'll look at the decision making process, including steps that can help you arrive at sound decisions. Other lessons look at entrepreneurship and the principle of rational choice. Along with multiple-choice lesson quizzes, the chapter comes with an exam that you can use to gauge your grasp of the covered concepts. By the end of these lessons, you should understand:

  • Why rational choice theory explains some human behavior
  • What various types of entrepreneurs do
  • Why enterprise is related to entrepreneurship
  • How to use sound decision making practices
  • Why both intuitive and rational decision making are necessary

Video Objective
What Is a Business Organization? - Structure, Types & ExamplesExplore the definition of an organization as well as organizational structure and types.
Entrepreneurship & the Economy: Definition & ImportanceStudy the meaning of entrepreneurship and the role entrepreneurs play in the economy.
The Seven Steps of Decision MakingLearn to break down the decision making process into seven steps.
Principle of Rational Choice in Economics: Theory & AnalysisDiscover the rational choice theory and why it explains choices that individuals make.
Intuitive Decision Making in Business and ManagementLook at intuitive decision making and when it can be useful.

5 Lessons in Chapter 3: Business Organizations & Decision Making
Test your knowledge with a 30-question chapter practice test
Entrepreneurship & the Economy: Definition & Importance

1. Entrepreneurship & the Economy: Definition & Importance

Entrepreneurs fill a vitally important role in market economies. In this lesson, you'll learn about the importance of entrepreneurship, different types of entrepreneurs and how they add value to an economy.

The Seven Steps of Decision Making

2. The Seven Steps of Decision Making

Effective decision-making is an essential skill for every manager. In this lesson, you'll learn about a seven-step process for effective decision-making. You'll also have an opportunity to take a short quiz after the lesson.

Intuitive Decision Making in Business and Management

3. Intuitive Decision Making in Business and Management

Managers often rely on patterns and intuition to make quick decisions. Intuitive decision making can be very beneficial in the business world and differs from rational processes in several ways. Learn more about both decision-making tools and find out which process provides the best solutions.

Principle of Rational Choice in Economics: Theory & Analysis

4. Principle of Rational Choice in Economics: Theory & Analysis

Economic theory is based on several important concepts. One of those concepts is that people make choices in their best self-interest. This is known as the Rational Choice Theory. We will explore this concept in more detail in this lesson.

What Is a Business Organization? - Structure, Types & Examples

5. What Is a Business Organization? - Structure, Types & Examples

Want to start a business? One of the first steps is to pick its form. In this lesson, you'll learn about the primary ways businesses are organized with examples provided along the way.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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