By Isha Aggarwal
What is decision??
 A conscious choice among
alternatives followed by action to
implement the choice
 Decision without a...
Decision Making
Decision making involves –
 Complex mix of knowledge
 Experience
 Creative thinking
 Risk taking
3Prof...
Decision
Making
Knowledge
Emotion
Reason
Individual
factors
Imagination
Uncertainty
Risk
Group
factors
Decision making var...
Types of Managerial Decisions
Programmed DecisionsNonprogrammed Decisions  Response to repetitive and routine
problems, w...
Decision making process
Clarify the
problem or
opportunity
Develop
alternative
courses of
action
Evaluate
alternatives
and...
Implement the Selected Alternative Course of Action
Six steps of effective delegation
 Clearly define the task
 Provide ...
Prof. Jairaj Kochavara 8
Influences on Individual Decision Makers
 The Importance of the Decision
 Time Pressures
 The ...
Prof. Jairaj Kochavara 9
Group Decision Making
In Organizations, a great deal of decision making is achieved through –
 C...
10Prof. Jairaj Kochavara
Techniques for Stimulating Creativity
Brain storming
The Delphi Technique
The Nominal Group
Techn...
Prof. Jairaj Kochavara 11
Techniques for Stimulating Creativity
Brain storming
 A technique for stimulating creativity by...
Prof. Jairaj Kochavara 12
Techniques for Stimulating Creativity
The Delphi Technique
 A technique for stimulating creativ...
Prof. Jairaj Kochavara 13
Techniques for Stimulating Creativity
 A technique for generating ideas that involves the
anony...
Prof. Jairaj Kochavara 14
Information Technology and Decision making
Information technology represents
the hardware, softw...
Prof. Jairaj Kochavara 15
Tools for warehousing and retrieving information
Data warehousing
The storage of pieces of knowl...
Prof. Jairaj Kochavara 16
Attributes of Useful Information
Attribute Description
Accessible Information can be obtained ea...
Prof. Jairaj Kochavara 17
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Decision making

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Decision making

  1. 1. By Isha Aggarwal
  2. 2. What is decision??  A conscious choice among alternatives followed by action to implement the choice  Decision without action is meaningless 2Prof. Jairaj Kochavara
  3. 3. Decision Making Decision making involves –  Complex mix of knowledge  Experience  Creative thinking  Risk taking 3Prof. Jairaj Kochavara
  4. 4. Decision Making Knowledge Emotion Reason Individual factors Imagination Uncertainty Risk Group factors Decision making variables 4Prof. Jairaj Kochavara
  5. 5. Types of Managerial Decisions Programmed DecisionsNonprogrammed Decisions  Response to repetitive and routine problems, which is handled by a standard procedure that has been developed by management.  Policies are laid down to handle such situations  “Policy” are the guidelines for managerial action that must be adhered to at all times.  A decision for novel and unstructured problems or for complex or extremely important problems; deserves special attention of top management  No preexisting structure or decision- making procedure in place 5Prof. Jairaj Kochavara
  6. 6. Decision making process Clarify the problem or opportunity Develop alternative courses of action Evaluate alternatives and select a course of action Implement the selected alternative course of action Monitor consequences of action Feedback 6Prof. Jairaj Kochavara
  7. 7. Implement the Selected Alternative Course of Action Six steps of effective delegation  Clearly define the task  Provide guidelines to begin or follow  Delegate authority to accomplish the task  Monitor the tasks, but don’t hover  Provide feedback along the way  Reward and recognize efforts as well as results 7Prof. Jairaj Kochavara
  8. 8. Prof. Jairaj Kochavara 8 Influences on Individual Decision Makers  The Importance of the Decision  Time Pressures  The Manager’s Values  The Manager’s Propensity for Risk
  9. 9. Prof. Jairaj Kochavara 9 Group Decision Making In Organizations, a great deal of decision making is achieved through –  Committes,  Teams,  Task forces,  Other kinds of groups  Virtual teams or  Employees linked electronically who may or may not have met in person
  10. 10. 10Prof. Jairaj Kochavara Techniques for Stimulating Creativity Brain storming The Delphi Technique The Nominal Group Technique Three techniques for stimulating creativity are:
  11. 11. Prof. Jairaj Kochavara 11 Techniques for Stimulating Creativity Brain storming  A technique for stimulating creativity by using a rigorous set of rules that promote the generation of ideas while avoiding the inhibitions that many people feel in group settings.  The basic rules are :  No idea is too ridiculous  Each idea presented belongs to the group  No idea can be criticized  Widely used in advertising
  12. 12. Prof. Jairaj Kochavara 12 Techniques for Stimulating Creativity The Delphi Technique  A technique for stimulating creativity that involves –  soliciting and comparing anonymous judgments  on the topic of interest  through a set of sequential questionnaires  that are interspersed with  summarized information  and feedback of opinions from earlier responses.
  13. 13. Prof. Jairaj Kochavara 13 Techniques for Stimulating Creativity  A technique for generating ideas that involves the anonymous contribution of ideas in a group setting.  A group of seven to ten individuals sit around a table but do not speak to one another.  Each person writes ideas on a pad of paper followed by a structured sharing of ideas.  Each person presents one idea.  Recorder writes ideas on a flip chart in full view of entire group.  The output of this phase is a list of ideas  Next phase is structured discussion of each idea.  The next stage involves independent voting of ideas in which each participant, in private, selects priorities by ranking or voting.  The group decision is the mathematically pooled outcome of the individual votes. The Nominal Group Technique
  14. 14. Prof. Jairaj Kochavara 14 Information Technology and Decision making Information technology represents the hardware, software, telecommunications, database management, and other technologies used to store data and make them available in the form of information for organizational decision making. Time Timeliness Currency Frequency Time Period Content Accuracy Relevance Completeness Conciseness Scope Performance Form Clarity Detail Order Presentation Media Characteristics of High-Quality Information
  15. 15. Prof. Jairaj Kochavara 15 Tools for warehousing and retrieving information Data warehousing The storage of pieces of knowledge, often in the form of stories, for easy access for those who have future need of it Data Mining The use of software to search through the warehouse of stored information for relevant bits. Data Mart A subset of a data warehouse that is easier for people to search for the data and information they need. Search engines Internet services that locate information on the World Wide Web using key words or phrases Software agents Software tools that will perform services for an individual on the World Wide Web
  16. 16. Prof. Jairaj Kochavara 16 Attributes of Useful Information Attribute Description Accessible Information can be obtained easily and quickly. Timely Information is available when needed. Relevant Managers need the information to make a particular decision. Accurate Information is error free. Verifiable Information is confirmed Complete All details needed are available Clear Information is stated in such a way that no facts are misunderstood.
  17. 17. Prof. Jairaj Kochavara 17

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