Decision making 2013
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This document discusses decision making and provides guidance on effective processes. It defines decision making as selecting a logical choice from available options by examining options, comparing them, and choosing a course of action. The document outlines seven steps for making decisions: define the problem, identify limiting factors, develop alternatives, analyze alternatives, select the best alternative, implement the decision, and establish controls and evaluation. It provides "do's and don'ts" for decision making, such as taking time to clarify issues, generating options, evaluating carefully, and considering short- and long-term consequences before making a final choice.
Decision making 2013
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- 4. Definition • To decide the matters. • Process of selecting logical choice from available options. • The process of examining: Your possible options Comparing them and choosing a course of action. 4
- 5. Importance of Decision Making • "two roads diverged in a wood -- and I? I"two roads diverged in a wood -- and I? I took the one less traveled by, and that hastook the one less traveled by, and that has made all the difference."made all the difference." (Road Not Taken, Robert Frost) 5
- 6. Decision Making in Business 6
- 7. Daniel Griffith’s Theory of Leadership • Administration is a process of directing and controlling life in a social organization. • The specific function of administration is to develop and regulate the decision making process in the most effective manner. 7
- 8. Decision Making • Objectives must first be established • Objectives must be classified and placed in order of importance • Alternative actions must be developed • The alternative must be evaluated against all the objectives 8
- 9. Effective Decision Making • Reduce more complicated decisions down to simpler steps. • See how any decisions are arrived decided. • Plan decision making to meet deadlines. 9
- 10. Do's and Don'ts of Decision Making 10
- 11. Do’s • Take the time to clarify the issues involved. • Generate as many options as possible. • Get all the facts. Inaccurate or incomplete information may lead to faulty decisions. 11
- 12. Do’s • Evaluate your options carefully. Some may sound good, but are they really practical? 12
- 13. Do’s • Consider the consequences of each course of action. Be sure to think about both the short- and long-term implications of your decision. • Look for a decision that best fits the situation and your comfort level. 13
- 14. Don’ts • Don’t rush into making a decision. • Don’t forget to consult others with experience making similar decisions. • Don’t forget to consult your boss about big decisions. 14
- 15. Don’ts • Don’t exclude possibilities too early in the process. Be creative and expansive when generating options. Limiting the scope comes later. 15
- 16. Don’ts • Don’t take information at face value. Credibility of the source. • Don’t be afraid to use your perception. Good decision making is a combination of logic and intuition. • Don’t hesitate to revise your decision if your first attempt doesn’t work out. 16
- 17. Process of Making Decisions 17
- 18. Seven Steps • Define the problem. • Identify limiting factors. • Develop potential alternatives. • Analyze the alternatives. • Select the best alternative. • Implement the decision. • Establish a control and evaluation system. 18