INTRODUCTION

Decision making is a daily activity for any human being. In the decision making process, we choose
one course of action from a few possible alternatives. In the process of decision making, we may use
many tools, techniques and perceptions.
PROBLEM SOLVING VS DECISION MAKING

It is important to differentiate between problem solving, or

problem analysis, and decision-making. Problem solving is
the process of investigating the given information and
finding all possible solutions through invention or
discovery.
 TYPES OF DECISION MAKING

• Basic Decisions
• Personal Decisions
• Individual Decisions
• Group Decisions
• Organizational Decisions
• Routine Decisions
 STEPS OF DECISION MAKING

• Awareness the Problem

• Diagnose and State the Problem
• Develop the Alternatives
• Evaluate the Alternative
• Select the Best Alternative
• Implement and Verify the Decision
• Feedback
 TECHNIQUES OF DECISION MAKING

• Group Discussions
• Brain Storming
• Delphi Method
• Ratio Analysis
• Financial Analysis
 IMPORTANCE OF DECISION MAKING

• Optimum and efficient utilization of resources

• Aids in problem solving and facing business challenges
• Helps in business growth and achieving objectives
• Facilitates effective management and innovation
• Motivates employees and overall business performance
 CONCLUSION

Every decision-making process reaches a conclusion, which can be a choice to act or not to act, a decision on what
course of action to take and how, or even an opinion or recommendation. Sometimes decision making leads to
redefining the issue or challenge.