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  • Decision Making Process: Presented by Marzia Jameel CMS No: 27616 Asmaa Sadiqa CMS No: 26530

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    Stu Dent
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    This document summarizes a manager's decision-making process for launching a new project. The manager needs to: 1) Identify the problem of needing an advanced telescope with a sensitive spectrometer for the new project. 2) Develop alternatives that could solve the problem within the budget, and analyze the strengths and weaknesses of each. 3) Evaluate the alternatives and select Celestronion as it best meets the criteria. 4) Implement the alternative by purchasing Celestronion and starting the new project, which was a success with minor conditions.

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    This document summarizes a manager's decision-making process for launching a new project. The manager needs to: 1) Identify the problem of needing an advanced telescope with a sensitive spectrometer for the new project. 2) Develop alternatives that could solve the problem within the budget, and analyze the strengths and weaknesses of each. 3) Evaluate the alternatives and select Celestronion as it best meets the criteria. 4) Implement the alternative by purchasing Celestronion and starting the new project, which was a success with minor conditions.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    9 views17 pages

    Decision Making Process: Presented by Marzia Jameel CMS No: 27616 Asmaa Sadiqa CMS No: 26530

    Uploaded by

    Stu Dent
    This document summarizes a manager's decision-making process for launching a new project. The manager needs to: 1) Identify the problem of needing an advanced telescope with a sensitive spectrometer for the new project. 2) Develop alternatives that could solve the problem within the budget, and analyze the strengths and weaknesses of each. 3) Evaluate the alternatives and select Celestronion as it best meets the criteria. 4) Implement the alternative by purchasing Celestronion and starting the new project, which was a success with minor conditions.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 17

    Decision Making

    Process
    Presented by
    Marzia Jameel
    CMS No : 27616
    Asmaa sadiqa
    CMS No : 26530
    Introduction
    Hey i am a manager of a
    galax-bee organization and
    we are wishing to get one
    step higher

    ‘Going to launch a new


    project’
    ❏ Identifying a problem
    For new project we need a better ,
    more sensitive,advanced telescope
    with extremely sensitive spectrometer
    in it
    Identifying decision criteria
    Our new telescope should have
    magnification,resolving power ,size of
    telescope, excitation of wavelength,
    ❏ Allocating weights to criteria
    ❏ Developing Alternatives
    Created list of alternatives who could
    solve our problem within our budget
    Analysing the Alternatives
    Keeping in mind the strenght and
    weakness of each alternatives i.e. its
    features ..we gave them.number
    relative to their ability to solve our
    problem
    ❏ Evaluation of Alternatives
    ❏ Selecting an alternative
    We chose celestronion
    Impelementing the
    Alternative
    We bought it and started our project
    Evaluating Decision
    effectiveness
    It was a success with minor
    Conditions
    faced by
    managers in
    makingPresented by : Am
    CMS No : 25607
    Risks
    Decisions in which there is a
    threat of loss but you can reduce
    that threat by taking into acount
    the past data relative to it and
    obtain the probability of a certain
    event
    ❏ I am a manager of
    foreign goods selling
    company with 25%
    sales per 6 months
    from Pak despite
    high delivery costs
    ❏ Wish to accelerate
    the profit and for
    that purpose i want
    to take some
    attempts like to set
    ‘free online
    deliveries’ for a
    Uncertainty
    ❏ Unpredictable and uncontrollable
    outcomes
    ❏ Out of possible choices of action ‘a
    optimistic will follow a maximix
    choice’
    ❏ Pessimist will follow maximin choice
    ❏ One who tries to avoid regrets will
    follow a minimax choice
    ❏ I was doing
    bussiness in
    enterpreinership
    and faced loss due
    to particular
    reasons
    I decided to make
    partnership with a
    company for a time
    range
    Here is possible measure of
    profit with four kind of
    strategic partnership

    ● Maximax choice is ‘Company 3’


    ● Maximin choice is ‘Company 1’
    Mini
    ‘com
    Thank you

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