Decision making is a critical function of management. However, care needs to be taken to ensure that decisions are not taken on an emotional basis.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
Organizational Planning And Goal Setting MGT 201 Helpful Slides For Management Students Of Different Universities In Karachi And All Over Pakistan And World
In this presentation you guys will get to know techniques of decision making which includes types of decision making, their description, Techniques of decision making(briefly described in easiest way).
Decision Making: Decision Making Process, Stages in Decision Making, Individu...Ashish Hande
Decision Making: Decision Making Process, Stages in
Decision Making, Individual and Organizational Decision
Making, Decision Making Models, Information System
support for Decision Making Phases
The document provides an introductory glimpse of management and the history of its evolution.The document also illustrates the nature, characteristics and importance of management. Various levels of management and managerial skills are also illustrated. The document also provides information to distinguish management and administration. Certain theories of pioneers are also mapped onto the document.
what is decision making, conditions of decision making, decision making under certainty, decision making under uncertainty, decision making under risk, process of decision making, how to effactive decision making
Control is the last function of management. Success or failure of planning depends on the success or failure of controlling.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
Organizational Planning And Goal Setting MGT 201 Helpful Slides For Management Students Of Different Universities In Karachi And All Over Pakistan And World
In this presentation you guys will get to know techniques of decision making which includes types of decision making, their description, Techniques of decision making(briefly described in easiest way).
Decision Making: Decision Making Process, Stages in Decision Making, Individu...Ashish Hande
Decision Making: Decision Making Process, Stages in
Decision Making, Individual and Organizational Decision
Making, Decision Making Models, Information System
support for Decision Making Phases
The document provides an introductory glimpse of management and the history of its evolution.The document also illustrates the nature, characteristics and importance of management. Various levels of management and managerial skills are also illustrated. The document also provides information to distinguish management and administration. Certain theories of pioneers are also mapped onto the document.
what is decision making, conditions of decision making, decision making under certainty, decision making under uncertainty, decision making under risk, process of decision making, how to effactive decision making
Control is the last function of management. Success or failure of planning depends on the success or failure of controlling.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
ReadySetPresent (Decision Making PowerPoint Presentation Content): 100+ PowerPoint presentation content slides. Successful and effective strategic decision making is a guarantee to increase productivity in every workplace. Decision Making PowerPoint Presentation Content slides include topics such as: the 6 C’s of decision making, inherent personal and system traps, 10+ slides on decision trees, 10+ slides on decision making methods and tips, 4 slides on the GOR approach to decision making, 8 slides on common pitfalls in decision making, 4 slides on effective strategies in making decisions, 35+ slides on the 8 major decision making traps and how to effectively minimize each, 7 slides on different decision making perspectives, 25 slides on the 3 different types of analysis (grid analysis – paired comparison analysis, and cost/benefit analysis), 4 slides on utilizing planning and overarching questions, 4 modes of decision making and 6 factors in decision making and more!
Decision-making is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of values, preferences and beliefs of the decision-maker.[1] Every decision-making process produces a final choice, which may or may not prompt action.
Decision-making is an important leadership skill because it helps managers. Effective decisions can save time and propel work projects forward, increasing employee productivity.
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In today's increasingly competitive business environment, organizations are engaged in a rat race to retain customers, build up clientele and simultaneously ensure steady growth. Unfortunately, they often get caught in a web of issues which may not be easily controlled and affect performance. Here comes the play of Financial Accounting. Professional accountants have a vital role in commercial success by using their valuable knowledge to provide their organizations/clients a competitive advantage and an accurate picture of their financial position and performance.
British Aerospace Asset Management Case study will tech you how important is asset management for your business. lern from the experts about the Asset management.
Mc donalds Recruitment Case Study will explain you each and every thing about the Recruitment. hiring a right person at your workplace will be one of the best part of your business management. learn how to hire or recruit perfect person in your company with this case study of Mc donalds Recruitment.
More from We Learn - A Continuous Learning Forum from Welingkar's Distance Learning Program. (20)
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As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
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2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
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Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
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2. Welingkar’s Distance Learning Division
Introduction
Decision-making is also one of the functions of the
management. The success of management depends
upon the quality of decision. If the manager fails to
take correct decision, he may not extract any work
from his sub-ordinates and may not find a way to
finish his work also. Some of the decisions are taken
emotionally. This should be taken with great care.
Emotional decision leads to a lot of confusion. So,
the decision-making is a work of the superiors.
We Learn – A Continuous Learning Forum
4. Welingkar’s Distance Learning Division
Definition
“Decision making is a process involving
information, choice of alternative actions,
implementations and evaluation that is
directed to the achievement of certain stated
goals.”
We Learn – A Continuous Learning Forum
5. Welingkar’s Distance Learning Division
Characteristics of Decision-Making
Decision-making is selection process. The best alternative is
selected out of available alternatives. If there is only one
alternatives, there is no decision-making.
Decision-making is the end process. Decision-making is
presented by detailed discussion and selection of
alternatives.
Decision-making is the application of intellectual abilities to a
great extend. An intelligent man alone can take a good
decision.
We Learn – A Continuous Learning Forum
6. Welingkar’s Distance Learning Division
Characteristics of Decision-Making
Decision gives happiness to an endeavor who takes
various steps to collect the information which is
likely to affect a decision.
Decision-making is situational. An individual takes
decision according to the situations prevailing.
It is a dynamic process. It is taken to achieve the
objectives of an organisation.
We Learn – A Continuous Learning Forum
7. Welingkar’s Distance Learning Division
Characteristics of Decision-Making
Decision-making involves the evaluation of available
alternatives through—critical appraisal methods.
A decision may be both negative and positive. A
decision may direct others to do or not to do.
Decision––maker has the evaluation of decision
which involves the using of resources in specified
ways.
We Learn – A Continuous Learning Forum
8. Welingkar’s Distance Learning Division
Elements of decision-making
A problem is fully analyzed and the available
alternatives are considered before taking a decision.
The best decision-making requires intelligence,
experience and insight into a problem.
A decision is taken according to the environment of
business.
We Learn – A Continuous Learning Forum
9. Welingkar’s Distance Learning Division
Elements of decision-making
Centralization and decentralization of authority
affect the decision indirectly.
The psychology of an individual is involved in
decision-making.
Decisions are taken when they are needed.
Employees are also involved in decision-making
process
We Learn – A Continuous Learning Forum
10. Welingkar’s Distance Learning Division
Elements of decision-making
Political and social environment of business affect the decision-
making if the management takes a decision after consulting the
employees, the following advantages may accrue:
Better relations with employees
Loyalty to the management.
There is no hindrance in the implementation of a decision.
Efficiency of the employees is increased.
We Learn – A Continuous Learning Forum
11. Welingkar’s Distance Learning Division
Decision-Making Process
Identification of a Implementation
Problem
Conversion of
Diagnosing the Verifying the into action
Problem decision
Selection of best
Collect and analyze alternative
the relevant information
Discovery of alternative Analyzing the Screening of
course of action alternatives alternatives
We Learn – A Continuous Learning Forum
12. Welingkar’s Distance Learning Division
Principles of decision-making
Marginal theory of decision-making:
• It is based on principle of diminishing
returns
• Applied for sales, advertisement,
promotion, training
We Learn – A Continuous Learning Forum
13. Welingkar’s Distance Learning Division
Principles of Decision-Making
Mathematical theory:
• Venture analysis, game theory, probability
theory and waiting theory are examples
• It give scientific approach to manager
We Learn – A Continuous Learning Forum
14. Welingkar’s Distance Learning Division
Principles of Decision-Making
Psychological theory
• Decision taken on basis of aspirations,
technological skill, personality, social status
and organisation status.
We Learn – A Continuous Learning Forum
15. Welingkar’s Distance Learning Division
Principles of decision-making
Principle of limiting factors
• Fundamental of a problem are studied.
• An inference or a conclusion is drawn
We Learn – A Continuous Learning Forum
16. Welingkar’s Distance Learning Division
Principles of decision-making
Principle of participation:
• Principle is based on human behavior and
human relationship.
• Subordinate should be consulted.
We Learn – A Continuous Learning Forum
17. Welingkar’s Distance Learning Division
Principles of decision-making
Principle of alternatives:
• All alternatives are evaluated and
screened and best alternative is taken for
decision making.
We Learn – A Continuous Learning Forum
18. Welingkar’s Distance Learning Division
Characteristics of good decision
or effective decision
Decision is taken after passing various stages. The basic
objective of passing through all the stages is to solve the
problems. The solution of the problem depends on how
effectively the decision has been made or implemented.
Action orientation:
Goal direction:
Efficiency in implementation:
We Learn – A Continuous Learning Forum
19. Welingkar’s Distance Learning Division
Administrative problems in
decision-making
Accuracy:
Environment for decision:
Timely decision:
Communication of decision:
Participative decision-making:
implementation:
We Learn – A Continuous Learning Forum
20. Welingkar’s Distance Learning Division
Types of decision
Programmed decision :
Non-programmed decision:
Major decision
Minor decision
Operative decision
Organizational decision
We Learn – A Continuous Learning Forum
21. Welingkar’s Distance Learning Division
Types of decision
Personal decision
Individual decision
Group decision
Departmental decision
Non-economic decision
Crises decision
Research decision
We Learn – A Continuous Learning Forum
22. Welingkar’s Distance Learning Division
Personal phase of decision-making
There are some differences in decision-making .These
are due to personal characteristics due to
Intelligence
Education
Experience
Courage
Motivation
Forecasting ability
Self-confidence
We Learn – A Continuous Learning Forum