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Decision making is a fundamental aspect of management that involves choosing between alternative courses of action to achieve desired results. Managers must make decisions to solve problems, and monitor the consequences to determine if further decisions are needed. There are different types of decisions like basic one-time decisions, routine repetitive decisions, programmed structured recurring decisions, and non-programmed unique situation decisions. Decision making can also be classified as personal, organizational, strategic, operational, problem-solving, opportunity-based, structured, unstructured, crisis-based, research-based, initiative, and referred. The typical decision making process involves awareness of a problem, diagnosing and stating the problem, developing alternatives, analyzing alternatives, selecting the best solution, and implementing and
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Managerial decision making is an integral part of management. A decision is a choice made from available alternatives to achieve organizational goals. There are different types of managerial decisions like programmed, non-programmed, routine, strategic, tactical, and operational. The decision making process involves identifying problems, gathering information, identifying alternatives, weighing alternatives, choosing an alternative, taking action, and reviewing the decision. Effective decision making is important for organizations as it leads to better resource utilization, facing challenges, business growth, achieving objectives, increasing efficiency, facilitating innovation, and motivating employees.
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Prime therapeutics has seen declining profits and must cut costs by downsizing staff. To make ethical decisions, they will use the 5 Whys method to understand the root causes of declining profits and potential solutions. Any staffing decisions must avoid targeting people based on attributes like race, religion, or orientation. Moving forward, Prime will communicate its status quarterly using the PDCA model to gain employee buy-in for changes through open communication.
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Content context of mgmt dec
Decision making is the central management activity, but its importance cannot be ascertained without pointing out the differences which individual managers face in making decisions.
All management decisions are not the same.
We know that, in practice, those occupying different positions within the organization and therefore performing a different set of management tasks, are confronted with very different types of decision.
So we need some kind of classification of decision types, in order that we can differentiate one decision from another.
Decision making
This document outlines the steps in effective decision making. It begins by defining decision making as the process of choosing a course of action to deal with a problem or opportunity. It then describes the typical decision making process of defining the problem, identifying alternatives, gathering data, making a decision, and evaluating. The document also discusses different types of decisions like programmed versus nonprogrammed, as well as different approaches to decision making such as rational versus bounded rationality. It concludes by noting that all decision making involves weighing risks and rewards.
Decision making
Decision making involves selecting a course of action from alternatives to achieve predetermined objectives. It is a managerial function that facilitates business policies and efficient performance. Problem solving is concerned with overcoming obstacles and may or may not require action. It involves discovering, analyzing, and solving issues. Key aspects of decision making and problem solving include understanding the problem, developing alternatives, selecting the best option, and reviewing the results. Common techniques used are brainstorming, hypothesis testing, and trial and error.
Decision making process
The document outlines the steps in the decision making process as defined by Ponmuthu S. and Daniel R. The 8 step process includes: 1) defining the problem and goals, 2) identifying decision criteria, 3) allocating weights to criteria, 4) gathering alternatives, 5) evaluating alternatives, 6) selecting the best alternative, 7) implementing the alternative, and 8) evaluating the decision's effectiveness. Key aspects of each step are described, such as using decision criteria, assigning weights based on importance, evaluating alternatives based on factors like feasibility and costs, and monitoring the implemented alternative. The overall process is meant to help decision makers systematically analyze problems and select optimal solutions.
Tool & techniques decision making process
This document discusses tools and techniques for decision making. It defines tools as physical items used to achieve goals and techniques as systematic procedures or routines used to accomplish tasks.
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Finally, it states that when making decisions one should consider both the positives and negatives to avoid losses and allow for sustained growth, but that ultimately decisions must be made and the consequences accepted to remain in control.
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Content context of mgmt dec
Decision making is the central management activity, but its importance cannot be ascertained without pointing out the differences which individual managers face in making decisions.
All management decisions are not the same.
We know that, in practice, those occupying different positions within the organization and therefore performing a different set of management tasks, are confronted with very different types of decision.
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The document outlines the steps in the decision making process as defined by Ponmuthu S. and Daniel R. The 8 step process includes: 1) defining the problem and goals, 2) identifying decision criteria, 3) allocating weights to criteria, 4) gathering alternatives, 5) evaluating alternatives, 6) selecting the best alternative, 7) implementing the alternative, and 8) evaluating the decision's effectiveness. Key aspects of each step are described, such as using decision criteria, assigning weights based on importance, evaluating alternatives based on factors like feasibility and costs, and monitoring the implemented alternative. The overall process is meant to help decision makers systematically analyze problems and select optimal solutions.
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It then describes several decision making tools and techniques: nominal group technique, Delphi technique, brainstorming, multivoting, Pareto analysis, fishbone diagrams, and PMI analysis. For each technique it provides a brief explanation of how it works and how it can be used to make decisions.
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The document discusses decision making, including:
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- Identifying different types of decisions like programmed vs non-programmed and routine vs strategic.
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The document discusses decision making in management. It provides details on:
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This document outlines the process of decision making in a business organization. It discusses that decision making involves selecting between alternative courses of action to solve problems. The 9 step decision making process is then described, including identifying the problem, diagnosing it, establishing objectives, collecting information, generating alternatives, evaluating alternatives, selecting an alternative, implementing it, and monitoring the implementation. Programmed decisions that are routine and nonprogrammed decisions that are unique are also defined.
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This document discusses decision making. It defines decision making as identifying and selecting a course of action to solve problems. The key aspects covered include:
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- The process of decision making, which involves identifying the problem, analyzing alternatives, selecting the best solution, implementing it, and ensuring feedback.
- Techniques for both programmed and non-programmed decision making, including linear programming, decision trees, brainstorming, and quality circles.
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Decision making involves selecting a course of action from alternative options to solve an organizational problem. It is closely related to problem solving and is a key managerial function. Decision making and planning are interdependent, continuous processes where managers identify issues and make choices to achieve objectives and deal with risks, certainty, and uncertainty. Good decisions lead to effective plans and vice versa.
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This document outlines the key aspects of decision-making as discussed in Chapter 6. It begins by defining decision and decision-making process. It then describes the eight steps in the decision-making process as identifying the problem, identifying decision criteria, allocating weights, developing alternatives, analyzing alternatives, selecting an alternative, implementing the alternative, and evaluating the decision's effectiveness. It also discusses rational decision-making and its assumptions, as well as the concepts of bounded rationality, satisficing, and escalation of commitment in decision-making. The document provides examples and exhibits to illustrate decision-making concepts.
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The document outlines the key aspects of the managerial decision-making process, including identifying problems, criteria, alternatives, and selecting the best alternative. It discusses rational and bounded rational decision making approaches and the role of intuition. Managers must make programmed decisions for well-structured problems and non-programmed decisions for poorly structured problems under conditions of certainty, risk, or uncertainty using different decision-making styles.
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Many people struggle with decision making due to fear of failure, a lack of structure, and unclear objectives. There are two types of decisions - programmed decisions which are routine and follow predetermined rules based on past experience, and non-programmed decisions which are for unique situations without clear guidelines and require creative thinking to develop a new strategy.
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Decision making- concept,types,process,techniques and principles
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This document provides an overview of decision support systems (DSS) and related concepts. It defines DSS as computer-based systems that support business or organizational decision-making through the use of data, documents, knowledge, analytical models, and tools. The document discusses different types of decisions, levels of decision making, and models of decision making. It also describes the key components of a DSS, including data management, model management, user interface, and knowledge base subsystems. Finally, it outlines different types of DSS such as data-driven, model-driven, and knowledge-driven systems.
D m
Decision making is an integral part of a manager's job and responsibilities. It involves examining options and possibilities, comparing them, and choosing a course of action. Effective decision making requires managers to construct a clear understanding of the decision needed, compile requirements, collect information on alternatives, compare alternatives, consider potential issues, and commit to and implement a decision. There are various types of decisions managers must make, including organizational vs personal, basic vs routine, programmed vs non-programmed, individual vs group, and strategic vs tactical decisions. Barriers to good decision making include decisions that are hasty, narrow, scattered, fuzzy, rely too heavily on heuristics or hindsight bias, involve overconfidence, or make illusory correlations
Decision making
The document outlines the 8 step decision making process managers follow which includes: 1) identifying the problem, 2) identifying decision criteria, 3) allocating weights to criteria, 4) developing alternatives, 5) analyzing alternatives, 6) selecting an alternative, 7) implementing the alternative, and 8) evaluating the decision. It also discusses types of decisions, decision making styles, biases that can influence decisions, and quantitative tools that can aid the decision making process such as decision trees, payoff matrices, and break even analysis.
MPOB unit2.pptx
This document discusses decision making and various aspects related to it. It defines decision making as the process of selecting an action from alternatives to fulfill objectives. It then describes the characteristics, types, and techniques of decision making. The types discussed are routine vs strategic, policy vs operating, and programmed vs non-programmed decisions. Quantitative techniques like marginal cost analysis and qualitative group techniques like brainstorming and the Delphi method are also summarized. Finally, the document outlines the rational model and bounded rationality in decision making.
Ppt on decision making by kundliwal ravi kumar(eco).
This document discusses decision making in business. It begins by stating that decisions are made consciously or subconsciously in daily life and must be made scientifically in business since they affect operations. It then defines decision making as selecting between alternative courses of action to solve a problem. The document outlines the key features and steps of the decision making process, which includes identifying the problem, diagnosing causes, setting objectives, gathering information, generating alternatives, evaluating options, selecting a choice, implementing it, and monitoring the results. It also describes different types of decisions as either programmed, routine decisions or non-programmed unique decisions.
Decision making.docx
Management involves making many decisions. Decision-making is selecting the best course of action from alternatives to achieve goals. There are different types of decisions like strategic vs routine, programmed vs non-programmed, policy vs operating, and individual vs group. The decision-making process involves identifying the problem, gathering information, setting criteria, brainstorming alternatives, evaluating them, selecting the best option, implementing it, and reviewing results. Careful analysis and following a process is important for effective decision-making.
Individual decision making & problem solving seminar
This document discusses individual decision making and problem solving. It covers key concepts such as the decision making process, types of decisions, and approaches to problem solving. The decision making process involves identifying a problem, searching for alternatives, evaluating alternatives, choosing an alternative, and providing feedback. Decisions can be programmed (routine) or non-programmed (non-routine), and strategic decisions are usually non-programmed while tactical decisions are often programmed. Problem solving approaches include routine, scientific, quantitative, and creative approaches.
Decision making
This document discusses concepts related to business decision making. It defines business decisions and their characteristics. Rational decision making and Herbert Simon's model of intelligence, design and choice are explained. The document also covers types of decisions, decision alternatives, decision analysis techniques, behavioral concepts, and how organizations can deal with uncertainty and learn from past decisions. MIS can support decision making by providing flexible decision support systems and incorporating organizational and cultural factors.
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Decision making- concept,types,process,techniques and principles
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Importance and Process of Decision Making_By Parakramesh Jaroli
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Decision+making+and+management+of+change
- 1. Decision Making & Management of Change
- 12. PERSPECTIVE MANAGEMENT Decision Making Process Identifying the Problem Developing Alternative Solutions Analyzing the Problem Follow up or Action taken Converting Decision into Action Selecting the Best Solution