DECISION MAKING
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The document discusses the nature and process of decision making, highlighting its importance in managerial activities. It outlines the six C's of decision making, types of decisions (programmed and non-programmed), and the conditions under which decisions are made (certainty, risk, uncertainty). Additionally, it emphasizes the need for recognizing poor decisions and quickly responding to mistakes.
DECISION MAKING
- 2. SYNOPSIS Introduction. The nature of decision making Six C’s of decision making. Decision making process. Types of decisions. Decisions making conditions. Words of leaders.
- 3. INTRODUCTION A decision is one when there are different things we can do and we can pick of them. We make lots of decisions everyday!! Decisions are calculated on the basis of which alternative has the highest probability of working effectively.
- 4. NATURE OF DECCISION MAKING Making effective decisions, as well as recognizing when a bad decision has been made and quickly responding to mistakes. Some experts believe that decision making is the most basic and fundamental of all managerial activities.
- 5. SIX C’S OF DECISION MAKING Construct. Compile. Collect. Compare. Consider. Commit.
- 6. DECISION MAKING PROCESS Decision making process includes : Recognizing and defining the nature of a decision situation. Identifying alternatives. Choosing the “best” among the choices. Putting into practice.
- 7. TYPES OF DECISIONS Programmed decisions. Non-programmed decisions.
- 8. PROGRAMMED DECISIONS Programmed decision is one that is fairly structured or recurs with some frequency. Many decisions regarding basic procedures and standard organizational transactions fall into this category.
- 9. NON PROGRAMMED DEISIONS Non programmed decision is one that is unstructured and occurs much less often than a programmed decisions. Most of the decisions of managers and organization design are non-programmed. Intuition and experience are major factors in this decision.
- 10. DECISION MAKING CONDITIONS Decision making under, Certainty. Risk. Uncertainty.
- 11. UNDER CERTAINITY Certainty exists when a decision maker knows, with reasonable certainty. Very few organizational decisions, however are made under these conditions.
- 12. UNDER RISK Risk exists when a decision maker makes decision under a condition in which the availability of alternative does not exists. Decisions such as these are based on past experiences, relevant information and the advice of others.
- 13. UNDER UNCERTAINTY Uncertainty exists when a decision maker does not know all of the alternatives, the risk associated with each other. Most of the major decision making, today is done under these conditions.
- 14. WORDS OF LEADERS
- 15. WORDS OF LEADERS
- 16. CONCLUSION