RISK EFFECT AND HIGH STAKES IN DECISION MAKING-2

Question :

1) Decision making in scenario 1

Article 2: The Real options model on fire risk management decision-making under the fire loss frequency-uncertainty.

2) Decision making scenario 2

Article 3: A Management Framework for Municipal Solid Waste Systems and Its Application to Food Waste Prevention

Answer :

1. Introduction

Decision-making is one of the essential as well as major activities that help to associate or engage in the administrative purposes in an appropriate manner. As a significant aspect of action the decision, making criteria helps to specify the work statement for future. The effective process and engaging people in decision-making can consider the best implication for future that assist for development and growth indication. Making choices and selecting the best alternatives can consider the better work implication that can bring success to any project. In order to enhance the future choices, it is essential to create the better way that involves productive work purposes. The target resulting and taking the final decision will focus towards the effective pathway. The decision makes approaches focus on the necessary steps like planning, alternatives generating process, the alternatives evaluating process, an alternative choosing structure, implementing the decision as well as decision evaluating process in an effective manner. With certain goals and understanding, the different statement related to the overall planning considers progressive decision-making approaches.

2. Decision making in scenario 1

Article 2: The Real options model on fire risk management decision-making under the fire loss frequency-uncertainty

Reference	Lee, J. C., & Lin, T. T. (2018). A three-stage real options model on fire risk management decision-making under the fire loss frequency uncertainty. Asia Pacific Management Review, 23(1), 37-44.
Description of the event:	The major aim of this particular paper or article is to adopt in an appropriate way the real options approaches that are associated with the fire risk management structure of decision-making process that are associated with alternative fire insurance along with different fire security services in the context of uncertainty of the different fire loss frequency-process. Along with this, this paper develops a three-organize model to dissect the recurrence of flame misfortune with a dynamic perspective also, looks at the ten years fire misfortune information of a universal city to propose the ideal planning to purchase fire protection or introduce a fire security framework. This analysis needs to be done by the author after evaluating the research methodology as well as research approach in an appropriate way along with after completing the three-stage entry model in a proper manner. This particular paper needs to be done in much way. This paper creates some suppositions subject to a three-frame out model of the fire assurance along with security organizations. The author of this article needs to evaluate the research findings in an appropriate manner in order to gather different data and information. The x center point conveys the time of three-stage model with the limit of expected fire disaster repeat ft, and the y center point imparts the estimation of theme. From the point of view of cash streams, under no assurance and security of fire and security structures, the estimation of the theme shows a reducing straight line after some time. On the other hand, the decision-making results mainly supported with the different cases in real life along with that also can offer insight to decision makers. The author of this paper as well as different researchers needs to be done this research in a proper manner. Some certain tasks need to be done to implement the research methodology in an accurate manner as well as gather information for future progression. Some roles and responsibilities should give to the members to take their personal opinion towards implement the research process and different survey and interview sessions should prepare for understanding the different thoughts of people. On the other hand, The ROA approach is need to be evaluated by the researchers and authors with different traditional CBA or cost benefit analysis method as well as with the NPV or net present value for implementing the consumers' decision-making. An accurate group structure process is operated with the help of proper research methodology as well as implementing the all research data. Researchers and the authors of this paper should communicate with each other and find out all the problems to complete the research paper. With this, researchers should implement the research findings and methodology in a proper manner to overcome all the issues and evaluate the research structure.
Analysis of decision making of scenario 1	This particular paper needs to be done in some different ways to evaluate the decision making process. Author of this paper needs to be communicated with the researchers and the other authors to analysis the decision making process or fire assurance and security process. This paper makes certain suppositions subject to a three-sort out model of the fire assurance and security organizations. In addition, this paper thinks about the ordinary estimation of the alternative on the three-compose section mode with the honest to goodness choices that show security benefits set up. This paper proposes the organization recommendations as seeks after right off the bat, the security adventures and fire insurance should push ahead the assessment criteria of fruitful also facilitated different risks organization benefits despite uncertain environmental threats all together to offer better things to buyers. In addition, buyers settle on a choice between security organizations and insurance ways to deal with administer the danger related with properties and mishaps. Along with this, the real choices model can be used to provide the basic period of setback expectation and fire security organization in worldwide urban networks. Finally, this current research paper article recommends that the fire insurance basically, security organizations should to receive a joined methodology in key thinking of their peril organization things/benefits as some bit of their whole deal obligation to corporate social obligation.
Recommendation for scenario 1	The researchers as well as the author need to focus on the decision making process by which they would be able to implement the research paper. In the recommendation part, it can be said that researchers and the authors need to be more conscious about the research paper for implementing it in a proper manner as well as data collection method should be done in an accurate way to complete the paper.

3. Decision making scenario 2

Article 3: A Management Framework for Municipal Solid Waste Systems and Its Application to Food Waste Prevention

Reference	Thyberg, K. L., & Tonjes, D. J. (2015). A management framework for municipal solid waste systems and its application to food waste prevention. Systems, 3(3), 133-151.
Description of the event:	The major aim of this research is not to find out supplant existing basic leadership approaches, however instead to empower their combination to take into account incorporation of by and large manageability concerns and address the multifaceted nature of strong waste administration. After analyzing the data collection method as well as implement the research methodology the research needs to be done in a proper manner. Convincing organization or the effective management of municipal waste systems requires a conventional perception of waste exchange drivers, measures of waste created, money related costs of system errands, and the biological impacts of treatment propels. Along with this with the proper help of system theory, this paper needs to be done correctly. The author and the future researchers should do this Certain tasks need to be done only for gathering data and information as well as manage the municipal waste system process The roles and regulations should be maintained by the researchers also issues should be resolved by them only that is the reason authors should communicate with them as well as resolve all the research problems Group can operate all the research methods by communicating with each other’s and authors should implement the data collection method. If any kind of problem occur while evaluating the research paper as soon as possible researchers need to find out all the other solution to resolve the research paper development issues
Analysis of decision making of scenario 2	Waste management process is a complex task that including different waste parts, an extent of mechanical treatment choices, and various yields that are coursed over into society. There are various arranged accomplices included and distinctive markets for system yields (e.g., essentialness, supplements). Misuse structures or the waste systems incorporate multi-faceted tradeoffs that to be considered among advances, some of which are advanced and novel, money related instruments, and authoritative frameworks. Achievable waste organization systems, particularly, those are biologically reasonable, fiscally moderate, and socially sufficient.
Recommendation for scenario 2	In the recommendation part, after analyzing the article it can be recommended that researchers and the authors need to be more conscious about the research paper for implementing the waste management system in a proper manner as well as data collection method should be done in an accurate way to complete the paper. Authors along with the future researchers need to co-operate with others and they should focus on the decision making process.

4. Conclusion

Thus, from this entire paper it can be concluded that in order to do those researches the authors of those papers need to communicate with the others researchers as well as the other authors to evaluate the decision making process. From the first scenario that is associated with the article 2, in this article the authors should focus on the three-sort out model of the fire assurance and security organizations. On the other hand, from the second case scenario that is associated with the article 3 it has been found that the multifaceted design of the waste management systems exhibits which is a structures perspective and that is essential for understanding structure components. In addition, in light of the way that waste structures intermittently change after some time, organization strategies should consider progression and change.

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RISK EFFECT AND HIGH STAKES IN DECISION MAKING-2

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