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Decision making

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Decision making involves selecting a course of action from alternatives and is the core of planning. It involves several steps, such as analyzing the matter, determining methods, defining attitudes, making decisions based on knowledge and information. There are different types of decisions ranging from programmed to non-programmed and models for decision making including satisfying, implicit favorite, and intuitive models. Modern approaches to decision making include risk analysis, decision trees, and preference theory.

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DECISION MAKING CHAPTER No. 8
D ECISION M AKING ,[object Object],D EFINTION :
S TEPS O F D ECISION M AKING ,[object Object],[object Object],[object Object],[object Object],[object Object],Decision may OR may not be 100% at every aspects
S TEPS of D ECISION M AKING ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
D ECISION M AKING Selecting an Alternative Reliance on the Post How to Select from among Alternatives? Experimentation Choice Made Research & Analysis
Programmed & Non-Programmed Decisions D ECISION M AKING Nature of Problems Non-Programmed Decision Programmed Decision Lowest Level Highest Level Unstructured Structured Nature of Decision Making
D ECISION M AKING ,[object Object],[object Object],[object Object]
D ECISION M AKING M ODEL ,[object Object],Ascertain the Need for a Decision Identify the Decision Criteria Allocate Weights to the Criteria Develop the Alternative Evaluate the Alternative Select the best Alternative
D ECISION M AKING ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
T HE S ATISFYING M ODEL ,[object Object],Problem Simplify Problem Set Satisfying Criteria Identify a limited set of alternatives Compare Alternatives Expand Search for Alternatives Satisfying Choice
T HE I MPLICIT F AVORITE M ODEL ,[object Object],Ascertain the need for a decision Selection of an implicit favorite alternative Identification of alternatives Identification of confirmation candidates Confirmation of Implicit Favorite Establish decision criteria that are biased toward the favorite Selection Implicit Favorite
M ODERN A PPROACHES T O D ECISION M AKING ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],D ECISION M AKING
S UMMARY Decision Making is the selection of a course of action from alternatives; it is the core of planning. Because there are always alternatives, usually many to a course of action. Decision Maker need to narrow them down to those few that deal with the limiting factors.

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Decision making

  • 2.
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  • 4.
  • 5. D ECISION M AKING Selecting an Alternative Reliance on the Post How to Select from among Alternatives? Experimentation Choice Made Research & Analysis
  • 6. Programmed & Non-Programmed Decisions D ECISION M AKING Nature of Problems Non-Programmed Decision Programmed Decision Lowest Level Highest Level Unstructured Structured Nature of Decision Making
  • 7.
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  • 10.
  • 11.
  • 12.
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  • 14. S UMMARY Decision Making is the selection of a course of action from alternatives; it is the core of planning. Because there are always alternatives, usually many to a course of action. Decision Maker need to narrow them down to those few that deal with the limiting factors.