Problem solving & decision making

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Problem solving & decision making

  1. 1. Problem Solving &Problem Solving & Decision MakingDecision Making - By Prof. Purvish Shah BE, PGDBM (Gold Medalist)
  2. 2. When you require to make a Decision? -When there is more than one option available. - When there is uncertainty about future or Out come is not known. - When there is a Problem. ( Problem is deviation from standard performance )
  3. 3. Manoj Problem Areas for Managers -Costs -Marketing -Government Policies -Human Resource -Markets
  4. 4. PROBLEM SOLVING APPROCHES: -Routine -Scientific -Creative -Quantitative [ Be Proactive rather Reactive ]
  5. 5. POINTS TO CONSIDER BEFORE MAKING DECISION - Identify the Actual Problem - Find alternative - Assess all the alternative thoroughly - Correct understanding of Data - Analyze criticality of decision - Consider who all will be affected from Decision - Who will make decision - Who will take responsibility of decision
  6. 6. FOUR QUADRANT OF DECISION MAKING -I have to complete two related reports with different data and presentation. One was requested by my boss and one by my director. Both of them asked me to submit the report immediately. Which one should I complete the first? Why?
  7. 7. IMPORTANC E PRIORITY Hig h High Low Low
  8. 8. TECHNIQUES FOR DECISION MAKING -T – Chart -Tree Structure - Quantitative Calculations - Creative and Discussion

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