Revisiting decision trees

Explores, using appropriate examples, the ways in which decision trees can be used by the manager to assist in the longitudinal decision‐making process. Since the mathematical concepts associated with decision trees are complex, managers can be reluctant to attempt to use decision tree models. A recognition that such models can be simply developed in a spreadsheet environment, and can then be used for sensitivity analysis using different decision criteria, demonstrates that decision trees can offer valuable insights into the structure of a strategic decision problem.