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3.22 how to relate management techniques to the decision
1.
2. systematic and analytic methods
used by managers to assist in
decision-making, the improvement
of effectiveness and, in a particular,
the conduct of two key managerial
activities of planning and control
3. Operate by means of continuous cycle of:
gathering and analyzing
factual data,
formulating problems,
selecting objectives,
identifying courses of action,
4. Operate by means of continuous cycle of:
building new models,
weighing cost against performance
to point the way to corrective
action and improvements.
5. :
Consist of specified and often
sequential methods of tackling
problem, providing information
for decision-making or improving
operational efficiency.
6.
7. By concentrating on facts, by
subjecting these facts to
systematic analysis, and by
quantifying this analysis, wherever
possible, management techniques
help managers to be objective.
8. is the process of defining
problems and choosing
course of action from
among alternatives.
It is particularly at the core
of the planning function of
9. Decision making implies choice
Continuous activity/process
Mental/intellectual activity
Goal oriented process
Relates to specific problem
12. 1. Defining the problem.
2. Analyzing the problem.
3. Developing alternative solutions.
4. Selecting the best solution out of
the available alternatives.
5. Converting the decision into action
6. Ensuring feedback for follow-up.
Provides framework within which manager exercise their skills in a more orderly and purposeful manner.
Management technique place monetary values on performance report forecast plans and control information needed to asses against budgets or targets.
Decision making is choosing from one among two or more alternative courses of action.
It is a continuous and dynamic(active) process. It pervades all organizational activity ( spread through all parts)
It requires knowledge, skills, experience and maturity on the part of decision maker.
Aims at providing a solution to problems faced by a manager.
It is not identical with problem solving but it has its roots in a problem itself.
It needs various steps to be completed, thus it make it time consuming.
Needs to be communicated to all concerned parties for suitable follow-up actions.
Managers working at all levels have to take decisions on matter within their jurisdiction.
D.M should be matured, experienced, knowledgeableand rational in their approach.
>This is necessary to classify the problem in order to know who must take decision and who must be informed about the decision taken.
>Only realistic alternative should be considered.
>select an alternative to be the most rational for solving the problem. (Communicated to those who are likely affected by it) Acceptance of the decision by group member is always desirable and useful for its effective member.
Convert selected decision into an effective action . Without action the decision will remain merely a declaration of good intention.
>Checking the effectiveness of follow up measures.