This document provides an overview of decision making processes. It discusses definitions of decision making, types of decisions, phases of decision making, and strategies. It also describes structured decision making models, factors that support effective decisions, collaborative decision making, and tools to aid decisions. Techniques for intuition, ensemble decision making, developing a decision profile, and improving decisions are covered. Complicating factors, pitfalls, and making decisions under stress are also addressed. The document aims to give a comprehensive overview of considerations and best practices for decision making.
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Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
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Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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1. All you need to know about decision
making
by Toronto Training and HR
August 2015
2. CONTENTS
3-4 Introduction
5-6 Definitions
7-8 Types of decision
9-10 Phases of decision-making
11-12 A scientific method of decision-making
13-14 Decision-making strategies
15-16 Structured decision-making and the DECIDE model
17-19 Actions observed in effective decision-making
20-21 Dimensions that support effective decision-making
22-23 Collaborative decision-making
24-25 Decision support tools
26-28 Approaches to streamline the decision-making process
29-32 Big data
33-34 Techniques to improve intuition
35-38 Patterns of ensemble decision-making
39-40 Developing a decision profile
41-42 Keys to making better decisions
43-44 Making decisions under stress
45-46 Complicating factors for decision-making
47-48 Pitfalls of decision-making
49-50 Conclusion, summary and questions
Page 2
4. Page 4
Introduction to Toronto Training
and HR
Toronto Training and HR is a specialist training and
human resources consultancy headed by Timothy Holden
10 years in banking
15 years in training and human resources
Freelance practitioner since 2006
The core services provided by Toronto Training and HR
are:
Training event design
Training event delivery
HR support with an emphasis on reducing
costs, saving time plus improving employee
engagement and morale
Services for job seekers
12. A scientific
method of
decision-
making
• Ask questions
• Do background
research
• Construct a
hypothesis
• Test with an
experiment
• Analyze results
and draw a
conclusion
• True or false
hypothesis
Page 12
18. Actions observed
in effective
decision-making
1 of 2
• Gather information
before making a
decision
• Cross check
information sources
for agreement
• Identify
alternatives/continge
ncies so that
possible solutions
may be explored
Page 18
27. Approaches to
streamline the
decision-making
process 1 of 2
• Approach the
process like an
investigation
• Gather a genuine
variety of opinions
• Limit under
influencing (or
priming) of opinions
• Keep track of
decisions over time
• Know your
competence
Page 27
28. Approaches to
streamline the
decision-making
process 2 of 2
Embedding these
practices
• Make decision-
process checks
• Follow a disciplined
decision process
• Regularly invite
stakeholder opinions
• No-blame reporting
• Realign incentives
• A specialist group
Page 28
30. Big data 1 of 3 • What is data?
• Evidence-based
decisions
• Knowledge
• Information
• What is unique about
big data?
• How does big data
produce value?
Page 30
31. Big data 2 of 3 • Key questions to ask
• Quality data
management
objectives
• Costs associated with
dirty data
• Tools critical to
improve data quality
• Internal data-
individual,
company/institutional
Page 31
32. Big data 3 of 3 • Insights produced
from data
• Applications of data
visualization tools
• Challenges which
prevent organizations
from capitalizing on
big data
Page 32
37. Patterns of
ensemble
decision-making
2 of 3
Adopting the right
framework
• Understand which
blueprint leaders
prefer
• Continually asses how
your preferred
blueprint helps or
hinders your
organization’s goals
for global expansion
Page 37
38. Patterns of
ensemble
decision-making
3 of 3
Adopting the right
framework (cont.)
• Understand the
connection between
the blueprint and the
way the ensemble
operates
Page 38
46. Complicating
factors for
decision-making
• Executives don’t know
what they don’t know
• Cognitive bias creeps in
• Organizational
processes get in the
way
• Decision makers tend
to rely on a single tool
• Managers don’t
consider the option to
delay a decision
Page 46