Chapter 7 Decision Making

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Chapter 7 Decision Making

  1. 1. DECISION-MAKING• George R.Terry “ Decision-making is the selection based on some criteria from two or more possible alternatives”.• Felix M.Lopez “ A decision represents a judgment, a final resolution of a conflict of needs, means or goals, and a commitment to action made in face of uncertainty, complexity and even irrationally”.• Decision-making involves the process of establishing goals, tasks and searching for alternatives for a decision problem.
  2. 2. Characteristics of Decision-Making1.Decision-maker has freedom to choose an alternative.2.Decision-making may not be completely rational3.Goal-oriented4.Mental or intellectual process because the final decision is made by the decision-maker5.Decision may be expressed in words or may be implied from behaviour6.Choosing from among alternative course of operation implies uncertainty about the final result of each possible course of operation7.Rational, thorough analysis and reasoning and weighing consequences of the various alternatives.
  3. 3. Types of Decision-Making1. Programmed Decisions (Routine & Repetitive)2. Non–Programmed Decisions (Unique /Unusual Problems)3. Strategic Decisions (Crucial Importance-Diversification)4. Tactical Decisions (Short term problems & minor ones)
  4. 4. Decision Making ProcessSpecific Identification of Search for Evaluation ofObjectives Problems Alternatives Alternatives Results Action Choice of Alternatives

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