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MIS & Decision Making

MIS & Decision Making

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Published by Arun Mishra

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Published by: Arun Mishra on Apr 07, 2010
Copyright:Attribution Non-commercial

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10/12/2010

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MIS & Decision Making
By ArunMishra
 
DECISION MAKING
Decision making 
is the developinconcepts leading to the selection of acourse of action among variations.Every decision making process produces a final choice
t can be an action or an opinion.
begins when we need to do something but we do not know what 
e.g. Decision to raise a Purchase Order 
 
 Decision making in business and management 
n general, business and management systems should be set up to allow decision making at the lowest possible level.
Several decision making models or practices for business include:
 ±
SWOT A
nalysis
Evaluation by the decision makinindividual or organization of Strengths, Weaknesses,Opportunities and Threats with respect to desired end state or objective.
 ±
Bu 
yer decision processes - 
transaction before, during, and after a purchase
orporate finance:
Th
e investment decision
Th
e financing decision
Th
e dividend decision
working capital management decisions
 ±
ost-benefit analysis
process of weighing thetotal expected costs vs. the total expected benefits

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