DECISION-MAKING FYBMS/B

GROUP NAMES
Urvashi. Solanki Ankit. Rathod Devendra. Nimbarkar Nikhil. Malvankar Varsha. Wanare Shruti. Nair

INTRODUCTION OF MANAGEMENT
Management in simple terms means the act of getting people together to accomplish desired goal. Management comprises planning, organizing, resourcing, leading, directing & controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal resourcing encompasses the development

DECISION-MAKING

WHAT IS DECISION-MAKING
To understand the important of decision making you

must know that decision making is called it choice among option. In Feching Decision making to Adolescents (1991), it is defined as the process of making choices among competing course of action..

In other words
Good decision making is an essential skill for carrier

success generally, and effective leadership particularly. If you can learn to make timely and well considered decision, then you can often lead your team to spectacular and well- deserved success. However, if you make poor decision your team risks failure and your time as a leader will, most like, be brutally short.

DEFINATION
The Oxford Dictionary define the term decision-

making as the action of carrying out or carrying into effect.

According to Haynes and Massie A decision is a course of action which is consciously chosen for achieving a desired result.

Techniques of Decision-Making
All of us to make decisions every day. Some decision are relatively straight forward & simple. Simple decision making usually need a simple decision making process. But difficult decision typically involve issues like this.
Uncertainity. Complexity. High-risk consequence. Alternative. Interpersonal.

MODERN TECHNIQUES OR DECISION MAKING

PROGRAMMED DECISION-MAKING TECHNIQUES: Linear Programming. Game Theory. Simulation. Queuing Theory. Network Techniques. Probability Decision Theory. Payoff Matrix. Decision Tree.

Modern Techniques For Making Non-Programmed Decision.

Brainstorming Techniques. Nominal Group Techniques. Delphi Techniques.

Quality Circles.
Heuristic Techniques.

Types of Effective Decision

Create a constructive element. Generate good alternatives.

Explore these alternatives.

Choose the best alternative. Check your decision. Communicate your decision and move action.

Decision-Making Skills & Techniques

Identify the purpose of your decision.
Gather Information. Identify the principles to judge the alternatives.

Brainstorm & list different possible choices.

Evaluate each choice in terms of its consequences. Determine the best alternatives. Put the decision into action. Evaluate the outcome of your decision & action steps.

Importance/Advantages of Decision-Making
Basis of Managerial Function Core of Planning
It is the thread of the entire managerial process The specific job of the managers. Planning is essentially a choosing activity. Managers sets the objectives to achieve goal; Organization is a complex network of decisional process. Decision maker is the architect of organization. It is through his decision that a manager gives direction to efforts and activities of his sub-ordinate

Building sound organization structure

Provides Direction

Basis of effective control.

Its control from organization success. Managers have to take a corrective action in case of deviations.

Path of success Means to problem solving.

Go decision making for any organization. It is the risk-taking and a challenge to judgment.

Decisions provide creative solutions to problems.

To face challenges.

Mangers can face challenges of modern times through good decisions.

Identifying The Problem Follow-up of Action Taken Analysing the Problem

Process of DecisionMaking
Converting Decision into Action Developing Alternative Solutions

Selecting the Best Solution

CONCEPTS OF DECISION-MAKING
Information.
Alternatives. Criteria.

Goals.
Value. Preferences. Decision Quality. Acceptance.

Self Career cateria lifestyle cateria

Research
Career Making a career Decision Reach a Decision Point Generate alternatives Positive & Negative Emotions

A Basic Decision-Making Model

INPUT

Problem Solving

Decision

OUTPUT

Making

THANK YOU