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Decision making


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Decision making

  1. 1. WHAT IS DECISION MAKING ????????????
  2. 2. TYPES OF MODELS FOR DECISIONMAKING Rational Model Non- Rational Model
  3. 3. DECISION MAKING PROCESS Identifying the problem Identifying resources and constraints Generating alternative solutions Evaluating alternatives Selecting an alternative Implementing the decision Monitoring the decision
  4. 4. TYPES OF MANAGERIAL DECISIONS Strategic Decisions Tactical Decisions Operational Decisions Programmed Decisions Non-programmed Decisions
  5. 5. DIFFERENT APPROACHES TODECISION MAKING Authoritarian Decision-making Group Decision-making Consultative Approach Participatory Approach
  6. 6. DECISION MAKING TECHNIQUES Marginal Analysis Financial Analysis Break-Even Analysis Ratio Analysis Operations Research Techniques Linear Programming Queuing or waiting line method Game theory Simulation Decision Tree