Decision Making
- 1. “Decision making is the selection based on some criteria from two or more possible alternatives.” Decision-making is an important job of a manager. Everyday he has to decide about doing or not doing a particular thing. Though there are many alternatives available for a manager but he has to choose the best out of them.
- 2. Decision-making is based on rational thinking. The manager tries to foresee various possible effects of a decision before deciding a particular one. It is a process of selecting the best from among alternative available.
- 3. It involves the evaluation of various alternatives available. Decision-making is the end product because it is preceded by discussions and deliberation. Decision-making is aimed to achieve organizational goals. It is involves certain commitment. Management is committed to every decision it takes..
- 4. Decision helps in solving problems or resolving conflicts. A decision needs some sort of prediction for the future on the basis of past and present available information. Sometimes decision are influenced by adopting a follow the-leader practice.
- 5. Defining the Problem. Alternative Courses of Action. Analysis of Problem. Evaluation of Alternatives. Experience. Experimentation. Taking Decision and Following up.
- 6. Intuition. Facts. Experience. Considered Opinions. Operations Research. Linear Programming.
- 7. Programmed and Non-programmed Decisions. Strategic and Tactical Decisions. Individual and Group Decisions.
- 8. • Traditional Techniques. • Modern Techniques
- 9. Group decision are taken by a number of persons. In order to avoid risk in taking important decision, a number of persons are assigned the work of making decisions. one persons may not able to analyze various aspects of a decision ,instead more persons bring their experience and knowledge together and suggest a decision.
- 11. Group decision are taken by a number of persons. In order to avoid risk in taking important decision, a number of persons are assigned the work of making decisions. one persons may not able to analyze various aspects of a decision ,instead more persons bring their experience and knowledge together and suggest a decision.