This ppt is about mcob 1st sem subject.

1. Welcome
MCOB PRESENTATION
TOPIC – DECISION MAKING
AND ITS TECHNIQUE

2. contents
Meaning and Definition of Decision Making
TECHNIQUES of decision making
1-brainstorming
2-Nominal group technique
3-Delphi method
Conclusion

3. WHAT IS DECISION MAKING?
According to Haynes and Massie, “a decision is a course of action which is con
sciously chosen for achieving a desired result”.
Decision-making involves the selection of a course of action from among two or
more possible alternatives in order to arrive at a solution for a given problem.
t is an ongoing activity, decision making process plays vital importance in the
functioning of an organization. Since intellectual minds are involved in the process of
decision making, it requires solid scientific knowledge coupled with skills and
experience in addition to mental maturity.

4. Techniques of decision making:-
 There are mainly three types of techniques of decision
making:-
 1-Brain Storming
 2-Nominal group technique
 3-Delphi technique

5. Brain storming:-
 Brainstorming is a popular group decision-making technique that is
used for generating ideas. In brainstorming, the leader of the session
presents a problem or question, clarifies the rules of the session and
then the group offers ideas in a round-robin format. Ideas are written
down so that every member can see them. Brainstorming does not
solve the problem but helps generate creative ideas. As a result,
quantity of ideas counts and members do not criticize ideas. To be
successful, the leader of a brainstorming session must understand
the problem and be able to create a relaxed and creative air.

6. Nominal group tecniques
 This group decision-making technique is used to identify problems or to
evaluate alternatives. In this technique, members of the group spend five
to 10 minutes writing their ideas without discussion. Then, they report
their ideas individually. Ideas are written on a flip chart, and individuals
try to add to the ideas. In the next phase, group members vote or rank
the ideas privately. With private voting, strong members of the group can
not affect the results. After voting, the group discusses results and
generates more ideas. The idea generation, voting and discussion cycle
can continue until a satisfactory decision is reached.

7. •EXAMPLE
•A group of accountants working on improving a management report has a strongly structured
work style, and consequently use NGT rather than Brainstorming to come up with the right
format.
•A sales manager, wanting to put together a presentation for a key customer, brings together
the account manager, the product marketing manager and the two key product engineers.
The quality manager facilitates a session for them, where they quickly find the key product
benefits over the competing products, and come up with a compelling value proposition.
•A product line team cannot agree on the best sound-proofing for a plate press, and the
production manager will not pay until they agree. They get the line facilitator to run an NGT
session to help uncover the real problems. This reveals that a couple of people have
preferred brands and no trials have been done. After a visit to a local trade show and internal
trials, they agree on a compromise system.

8. Delphi Method
 The Delphi method helps the group reach consensus without the influence of strong
members of the group and the tendency to rush for a decision at the end of a
meeting. It is a structured variant of the traditional expert polls and is usually used in
forecasting. In this method, a questionnaire is mailed to a group of experts;
administrators aggregate the results and send a second questionnaire with the
results of the first round. Several rounds of questionnaires and feedbacks help
respondents reach consensus on the debated issue. The administrators of the
Delphi method make a decision based on the results of the rounds.

9. EXAMPLE
Let’s take motor vehicle companies making two separate brands of cars. A company
would employ the Delphi technique steps, in trying to evaluate which model will be
purchased more between Toyota Hilux and Mercedes Benz. Experts on both car brands
will be called to provide their perspective on which car is likely to be purchased the
most.

10. CONCLUSION
ConclusionWhen it comes to making decisions, one
should always weigh the positive and negative
business consequences and should favour the positive
outcomes.This avoids the possible losses to the
organization and keeps the company running with a
sustained growth. Sometimes, avoiding decision
making seems easier; especially, when you get into a
lot of confrontation after making the tough decision.S

11. Thank-you