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H Bm Decision Making

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DECISION MAKING ,[object Object],[object Object],[object Object],[object Object]
Managers must take decisions ,[object Object],[object Object],[object Object],Some decisions are routine and do not involve a lot of thought. Decisions about the future may carry more risk and therefore merit more time given to them
[object Object],[object Object],[object Object],[object Object],WHAT IS DECISION MAKING? What about price? What to produce? Where to locate? Is this tie okay with this shirt?
TYPES OF DECISION ,[object Object],[object Object],[object Object],[object Object]
STRATEGIC DECISIONS ,[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],TACTICAL DECISIONS
OPERATIONAL DECISIONS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Q1-13
Question 1 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Solution ,[object Object],[object Object],[object Object]
Question 2 ,[object Object],[object Object],[object Object],[object Object]
Solution ,[object Object],[object Object]
Question 3 ,[object Object],[object Object],[object Object],[object Object],[object Object]
Solution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
SWOT ANALYIS ,[object Object],[object Object],[object Object],[object Object]
SWOT Analysis ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
SWOT ANALYSIS STRENGTHS WEAKNESSES OPPORTUNITIES THREATS EXTERNAL INTERNAL PRESENT POSITION FUTURE POSSIBILITIES
SWOT ANALYSIS THREATS What obstacles do you face What is the competition doing Do you have debt or cashflow problems Is changing technology threatening your position WEAKNESSESS What could you improve? What do you do badly? What should you avoid? ,[object Object],[object Object],[object Object],[object Object],[object Object],STRENGTHS What advantages do you have? What do you do well? What resources do you have? What do other people regard as your strengths?
Questions ,[object Object],[object Object],[object Object],[object Object]
Solutions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Solution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Benefits of a SWOT analysis ,[object Object],[object Object],[object Object],[object Object]
Costs of a SWOT analysis ,[object Object],[object Object],[object Object],[object Object]
Question ,[object Object],[object Object]
Solutions ,[object Object],[object Object],[object Object],[object Object]
DRAWING CONCLUSIONS FROM SWOT ,[object Object],[object Object]
A STRUCTURED DECISION-MAKING MODEL ,[object Object],Q1-10
Decision Making Model Activity ,[object Object],[object Object]
POGADSCIE ACTIVITY ,[object Object]
Solution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Problems with structured decision making models ……. ,[object Object],[object Object],[object Object],[object Object],[object Object]
HOW DO BUSINESSES KNOW IF THEY HAVE MADE THE RIGHT DECISION? ,[object Object],[object Object],[object Object],[object Object],[object Object]
HOW DO BUSINESSES KNOW IF THEY HAVE MADE THE RIGHT DECISION? ,[object Object],[object Object],[object Object],[object Object]
Decision Making - Question ,[object Object],[object Object]
Solution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Decision Making - Question ,[object Object],[object Object]
Solution ,[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Why Is Effective Decision Making Difficult? Constraints On Decision Making
Question ,[object Object],[object Object]
Solution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
WHO NEEDS TO KNOW ABOUT DECISIONS? ,[object Object],[object Object],[object Object]
Question ,[object Object],[object Object]
Solution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Missions Statements ,[object Object],[object Object],[object Object]
Example Mission Statements ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Activity ,[object Object]
THE ROLE OF MANAGERS PLAN – decide on the direction they wish to go and what is required ORGANISE - Give the workers the resources they need to do it COMMUNICATE - Make sure that everyone that needs to know about the decision is told CO-ORDINATE - Make sure that everyone knows and understands what they have to do CONTROL AND MONITOR - Make sure they do it, and that they do it properly Henry Fayol spent time researching what managers do:
Effective managers also have to be able to: ,[object Object],[object Object]
Question ,[object Object],[object Object]
Solution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
QUALITY OF DECISIONS ,[object Object],[object Object],[object Object],[object Object],[object Object],The quality of the decisions depends on a number of factors:
Question ,[object Object]
Solution ,[object Object],[object Object],[object Object],[object Object],[object Object]
AIDS TO DECISION MAKING ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
INFLUENCE OF IT ON DECISION MAKING ,[object Object],[object Object],[object Object],[object Object],[object Object]

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H Bm Decision Making

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  • 16. SWOT ANALYSIS STRENGTHS WEAKNESSES OPPORTUNITIES THREATS EXTERNAL INTERNAL PRESENT POSITION FUTURE POSSIBILITIES
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  • 47. THE ROLE OF MANAGERS PLAN – decide on the direction they wish to go and what is required ORGANISE - Give the workers the resources they need to do it COMMUNICATE - Make sure that everyone that needs to know about the decision is told CO-ORDINATE - Make sure that everyone knows and understands what they have to do CONTROL AND MONITOR - Make sure they do it, and that they do it properly Henry Fayol spent time researching what managers do:
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