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Title: EFFECTIVE DECISION-MAKING TECHNIQUES IN MANAGEMENT
Description: Effective decision making is defined as the process through which alternatives are selected and then managed through implementation to achieve business objectives.
Description: Effective decision making is defined as the process through which alternatives are selected and then managed through implementation to achieve business objectives.
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EFFECTIVE DECISION-MAKING TECHNIQUES IN MANAGEMENT
Decision-making is the judgment of the process, by which one can choose between a number
of alternative courses of action for the purpose of achieving goals
...
It decides what should be
done, how should it be done, when, and by whom
...
Programmed and non-programmed decision: programmed decisions are those which are
in accordance with some habits, rules, or procedures
...
For example, companies do not worry about salaries for new
employee since the organization generally has established a salary scale for all positions
...
Routine and strategic decisions: routine decisions are slightly similar to the programmed
decision-making
...
Strategic decision is related to the
policy of the organization and are taken by high-level management
...
Organizational and personal decision: a manager makes organizational decisions on behalf
of a company's officer
...
Personal
decisions are the manager's individual decision and not as a member of the organization
Individual and group decision: individual decisions are taken by a single individual in the
context of the routine decisions according to the guideline of the organization
...
Policy and operative decisions: policy decisions are critical; therefore, they are taken by top
management
...
The operative
decision is related to day-to-day operations of the enterprise and taken by low-level
management
Long-term departmental and non-economic decision: long-term decisions are taken for a
longer time period and risk involved is high
...
The non-economic decision is related to
factors such as technical values and moral behaviour
...
Programmed:
Routine, repetitive decisions, an
organization develops a specific
procedure
...
structure
...
process for handling them
...
2
...
(ii) Rule of thumb
...
training of
(ii) Constructing heuristic
executives
...
Title: EFFECTIVE DECISION-MAKING TECHNIQUES IN MANAGEMENT
Description: Effective decision making is defined as the process through which alternatives are selected and then managed through implementation to achieve business objectives.
Description: Effective decision making is defined as the process through which alternatives are selected and then managed through implementation to achieve business objectives.