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NATURE AND PROCESSOF
DECESSION MAKING
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Submitted to:-Prof. Keshav Sharma.
Submitted by:-
Harsh Udesh Bhat.
MBA Ist Sem 09Date: 07 / 09 /2007
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BIBLOGRAPHY
BOOKS Essentials of Management
(Koontz & Weihrich, 108-127)
Principles & Practice Of Management
(L M Prasad, 239-257)
JOURANLS University of Missouri, By Robert Macdianels
Journal of behavioral Decision Making.
Contd..The Business School
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Websites http://virtualsalt.com/asp12-net/man-de/as.pdf
http://wikipedia/wiki/decision-making
http://lib.umd.edu/groups/decision.making
http://nokia.com/batteries
Magazines
Business World Business & Economy
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Contents
Decision.
Decision making.
Features of Decision Making.
Nature of Decision Making. Decision Making Process.
Block Diagram of Decision making Process
Effective Decision. Corporate Examples.
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DECISION
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Originated from the latin word decidere which
means a cutting away.
Decision involves a cutting of alternatives
between those that are desirable and that which are
not.
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Decision Making
Decision making is a common human processinvolving both
individual and social phenomena
based on factual and value premises whichconclude with a choice
of one behavioral activityfrom among one or more alternatives with
theintention of moving towards some desired state
of affairs. (Shull et al)
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Features of Decision making
Availability ofalternatives.
Decision making may not be completely
rational but may be judgmental andemotional as well.
Like other management processes it is
also goal oriented.
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Nature of Decision Making
Programmed and Non Programmed.
Programmed Decisions.
Non Programmed Decisions.
Strategic and Tactical Decisions.
Strategic Decisions.
Tactical Decisions.
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Decision Making Process
Specific Objectives.
Problem Identification.
Search for alternatives. Evaluation of alternatives.
Choice of alternatives.
Action Results.
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Specific
Objectives
Identification
ofproblems
Result
Evaluation ofalternatives
Search for
alternatives
Choice of
alternativeAction
Feedback
Block Diagram
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Effective Decision
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Action orientation.
Goal direction. Efficiency in implementation.
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Corporate Examples
Nokia BL-5C Batteries.
Effective M&A throughout the world.
Granite Rock Company (1990).
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Thank You
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