Premier Cement Management
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The document summarizes the decision making policies of Premier Cement, a top cement brand in Bangladesh. It discusses that Premier Cement follows some but not all eight steps of the decision making process. Key decisions include field engineers detecting and reporting issues, analyzing trends to find solutions, and field managers evaluating implemented solutions. Managers make decisions in their four roles of planning, organizing, leading, and controlling. The document also describes types of decisions as structured or unstructured and conditions as certain or uncertain. It recommends Premier Cement follow all eight decision making steps.
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This document discusses decision making in business management. It defines decision making as identifying problems and finding alternatives to solve them. Managers must make various decisions to ensure the organization runs smoothly. The decision making process involves identifying the problem, forming alternatives, analyzing the alternatives, selecting the best alternative, and evaluating the results. Decision making authority depends on the scope and level of the decision. Techniques for decision making include brainstorming, nominal group technique, and Delphi technique.
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Premier Cement Management
- 1. Decision Making Policies of Premier Cement Prepared For: Sutapa Bhattacharjee Assistant Professor Institute of Business Administration University of Dhaka Prepared by: Mahbub Rahman Nafee(Roll:05) Saadman Hussain (Roll : 14) Md. Rafid-ur Rob (Roll : 26) Mahee Durdana (Roll : 28) Nahian Rashid Urbee (Roll : 52)
- 2. Introduction: Why we chose Premier Cement? Premier Cement is one of the top cement brands in Bangladesh Sales of BDT 6,416 million for the 2012-13 financial period Profit of BDT 499 million (before taxes) Provides a good and safe working environment for its 1500 employees
- 3. Mr. Khurshed Alam Chief Marketing Officer Premier Cement
- 5. The company does not follow each of the eight fundamental steps The steps they follow are as stated below : 1. Field engineers detect the problem and report to the top-level managers. 2. A trend analysis is carried out and a suitable solution is found. 3. The solution is then implemented via the field engineers. 4. The field managers then evaluate the effectiveness of the implemented solution.
- 6. Decisions that Managers make in their Four Roles
- 7. Planning: Managers take decisions that are in the best interests of the business During stable conditions, decisions are made by the manager himself In the current unstable and highly competitive market situation, brainstorming sessions are becoming necessary
- 8. Organizing: Employs about 1500 employees Employees are allocated to their jobs according to the functions they will be carrying out Resources are allocated according to the location of sales outlets and target consumer groups Transportation of materials and finished goods, are done using roads and waterways
- 9. Leading: A leader needs three important characteristics, will to do hard work, sincerity and honesty Motivation is done mainly through financial incentives; performance, sales, target achieving and festival bonuses Training and Brainstorming sessions also aid motivation
- 10. Controlling: Controlling is done through a hierarchy of supervisors. Regional In charge District In charge Route In charge Route In charge District In charge Route In charge
- 11. Targets set for employees are supervised and results are monitored. Employee performance is checked on a regular basis and regular appraisal sessions are held. Employees with decreasing performance maybe transferred to other departments or branches Introducing a new Management Information System (MIS) for improved controlling.
- 12. Decision Making Approach Types of Decisions Decision Making Conditions
- 13. Types of Decisions and Decision Making Approach: Types of Problems Structured Problems Unstructured Problems
- 14. Structured Problem Rational Routine Steps Problems with load shedding at factories Managers take rational decisions Use of generators
- 15. Unstructured Problem Intuition Based Maybe take New Approach Recent problems with blockades Managers took an intuition based decision Changed transportation routes, and employee working hours
- 16. Decision-Making Conditions: Mostly face decision making conditions of certainty Decisions are mostly rational, hence outcomes can be well predicted However, some decisions do involve risk and uncertainty Such as, when marketing to new clients, establishing marketing targets and during political unrest
- 17. Recommendations: Following all the eight steps of the decision making process Such as assigning weights to the decision criteria And developing more alternatives To solve the problem more efficiently