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Decision Making
Decision making is the study of identifying and choosing alternatives based o...
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Decision Theory.Decision Theory.
Decision makingDecision makingDecision ProcessDecision ProcessDecisions under certainty, risk andDecisions under certainty, risk anduncertainty.uncertainty.
Decision Making.Decision Making.
Decisions are processes by which a managerDecisions are processes by which a managerseeks to achieve some desired state. They areseeks to achieve some desired state. They aremeans rather than ends. Making a decisionmeans rather than ends. Making a decisioninvolves making a choice between theinvolves making a choice between thealternatives. Decisions could be a) engineeringalternatives. Decisions could be a) engineeringor scientific or b) managementor scientific or b) managementDecision making is the sequential process of Decision making is the sequential process of thought and deliberation that results in athought and deliberation that results in adecision.decision.The process of decision making is same in bothThe process of decision making is same in boththe types of decisions and involves a) definingthe types of decisions and involves a) definingthe problem b) gathering facts related to thethe problem b) gathering facts related to theproblem c) comparing these with right or wrongproblem c) comparing these with right or wrongcriteria based on knowledge and experiencecriteria based on knowledge and experienceand then taking the best course of actionand then taking the best course of action
Management decisions are tough becauseManagement decisions are tough becausemanagement problems are wider in scope andmanagement problems are wider in scope andthey are related to human behavior which isthey are related to human behavior which ismost unpredictable.most unpredictable.Management decisions could be either a)Management decisions could be either a)programmed or b) Non programmed.programmed or b) Non programmed.While Programmed decisions are repetitive andWhile Programmed decisions are repetitive androutine in nature and provide solutions toroutine in nature and provide solutions tostructured problems the Non programmedstructured problems the Non programmeddecisions are of non routine or unique indecisions are of non routine or unique innature and attempt to provide solutions tonature and attempt to provide solutions tocomplex and unstructured problemscomplex and unstructured problems
Top Broad, unstructured, infrequent, uncertaintyMiddle Both structured and unstructuredLower Frequent, structured, repetitive,routine, certaintyProgrammed decisionsUn Programmed decisions
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| Upload Date: | 08/01/2009 |
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