Ppt Decision Making

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Amrapali Institute Of

Management

PRINCIPAIS AND PRACTICE OF

MANAGEMENT

DECISION MAKING

Prem Prakash Bafila

M.B.A. Isem (B)


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Decision making is said to be apsychological construct. This means

that although we can never see adecision we can infer fromobservable behavior that a

decision has been made. This isanother impotent function of amanager.

INTRODUCTION


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Decision making is a process ofselection of alternatives courses ofaction which is thought to fulfill theobjectives of the decision problemmore satisfactorily than others.

IN the word of R.A. Killian ;

A decision in its simplest from, is a

selection of alternatives.

Meaning And

Concept


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In the word of Peter Drucker ;

Whatever manager does , he doesthrough decision making.

Management & decision making goside by side. Whether knowingly or

unknowingly, every manager has to

Importance Of Decision

Making


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Decision makers face three types ofproblems.

1) A crisis problem is a serious difficultyrequiring immediate action.

1) A non-crisis problem

2) An opportunity problem

a. Opportunity involve ideas

b. Non-innovative managers tend to focuson problems

Nature Of Managerial

Decision Making


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Traditional approach to

Decision makingv Decision making intend to maximize economicgains.

v He is objective & rational.

v He can identify the problem clearly.

v

He has the full information about variousalternatives.

v He has complete freedom to chose the best

alternatives.


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Divided into two types ;

1) Decision making underCertainty :

Conditions of decision

making


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Following are the commonly used typesof decisions ;

v Routine & Strategic

v Policy & Operating

v Organizational & Personal

v Programmed & Non- programmed

v Individual & Group

Types of decision

making


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Types ; Decision tree hasfollowing three types :

1) Classification tree

1) Regression tree

1) CART

Decision tree


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Largefactory

Smallfactory

Averagefactory

StrongEconomyStableEconomyWeakEconomy



Sample Decision Tree


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v Brain Storming

v Nominal Group Technique

v Delphi Technique

v Consensus Making

Other Decision Making Methods

1. Delphi Method

2. Scenario Analysis

3. NGT Nominal Grou Techni ue

Techniques used for

group aided decisions


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Thanks

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Ppt Decision Making