Abstract

APPLICATION OF DECISION TREE IN ENTREPRENEURIAL DEVELOPMENT

Ochuenwike G.N, Ofozor F.J & Ejiofor C.F

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Abstract A panoramic view of the application of decision tree in making right decision among alternatives was investigated in this paper. The study was backed up with two research questions which were answered using the case of Mr. Obidi obtained through field survey at Akili Ozizor in Ogbaru L.G.A of Anambra state. This was achieved by drawing the decision tree and calculating the Expected Monetary Values (EMVs) so as to select the right decision among the five alternatives. The results showed that decision tree is an indispensible tool in entrepreneurial growth and national development as it helped to select the best act. Application of this tool helps to foster business by increasing productivity and expansion of financial base. It was obvious that many entrepreneurs and leaders do not apply this indispensible tool instead they embark on hiring experts in decision making who will end up giving the wrong choice. Since if entrepreneurs at all do well, it will not only curb unemployment but also boast Nigeria economy by increasing the Per capital income which will in turn affect the country?s GDP positively, the researchers therefore recommend entrepreneurs and our Leaders to adopt and adapt to the use of decision tree for tremendous increase in their enterprise and economy growth and development. Keywords: Decision tree, Entrepreneurship Development, Decision-making, probability.

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