Decision making.

Introduction.
• ¿What does decision means?
Noun. The act or process of deciding ; determination, as of a
question or doubt, by making a judgment.

¿What is decision making?

Decision making process is continuos and indispensable
component of managing any organization or business activities.
 Characteristics.
 Lack of structure

 Business risk and Uncertainty

 Conflict
 Lack of structure.
If a manager of a company tried to achieve goals without first establishing
some sort of structure, do you think that the project will go as good as they
would like? Of course not! The target objective is to first establish a structure
for the project so that they will be able to basically fill in the gaps and not
have to worry about any future instability.
 Business risk and Uncertainty

Business risk implies uncertainty in profits or danger of loss and the events that could pose a risk
due to some unforeseen events in future, which causes business to fail. ... In marketing, risks
may arise due to fluctuations in market prices, changing trends and fashions, errors in sales
forecasting, etc.
 Conflict
Organizational Conflict or otherwise known as workplace conflict, is described as the state of
disagreement or misunderstanding, resulting from the actual or perceived dissent of needs,
beliefs, resources and relationship between the members of the organization.
 Stages of decision making
In general, the decision making process helps managers and other business
professionals solve problems by examining alternative choices and deciding on the
best route to take. Using a step-by-step approach is an efficient way to make solve a
problem.
 1. Make clear your purpose
• Ask yourself:
o What´s the problem?
o Why it should be solved?
o What parties are affected by it?
o Any specific period or deadline of
the problem?
2.Gather all the posible information

Share External
holders factors

Internal
factors

INFORMATION
3.Identify alternatives.
 4.Brainstorm and analyze

• Brainstorming refers to listing

down all the ideas and ways
to solve the problem.
5.Evaluate your alternatives
• Find out the pros and cons of every
alternate and eventually evaluate
them on such basis to find out the
one which seem to be more
effective than the rest
6. Pick the best one, and use it.

• The one should be 100% confident

and sure to pick the best possible
alternative.
 7. Evaluate your results
• Evaluate what happened after
making the decision which will help
you to learn from the problem and
prepare for next problems on the
future
The process to make best decisions
• 1. Get clear on what you really want.
Think about what you really want, taking into
account the pros and cons that your decisions
would have
• 2. Dont choose something just because you´re
“supossed to”.
If you´re feeling pressured into making the
decision that looks good, step back and examine
your reasoning. If you can´t come up with a
good answer, you know its nor for you.
• 3. Practive being decisive.
No one makes perfect decisions 100% of the
time. But action works in your favor, while
inaction never does.