There are innumerable decisions that are taken by human beings in day-to-day life. JUSTIFY WHY THIS CHOICEWHY NOT THE OTHERS? DECISION MAKING ; The act of choosing one alternative from among a set of alternatives. HOW IMPORTANT IS THE QUALITY OF THE DECISION? WEATHER BUREAU HISTORY Normal 35, Wet 30, You should PLANT CORN EVERY YEAR. The above diagram shows that a large number of disciplines influence and interact on strategic decision making in organisations. Decisions can be made without planning but planning cannot be done without making decisions. Management Support Systems and Decision-Making. Or use it to upload your own PowerPoint slides so you can share them with your teachers, class, students, bosses, employees, customers, potential investors or the world. The PowerPoint PPT presentation: "THE NATURE OF DECISION MAKING" is the property of its rightful owner. Thus, we buy Car B because I liked the color and, NOT RATIONAL OR SYSTEMATIC, BUT WE THINK WE WERE. An outline classification of decision making is given below for comprehension: The decision making process is very complex. Decision-making is the end product because it is preceded by discussions and deliberations. And they’re ready for you to use in your PowerPoint presentations the moment you need them. It also involves certain commitment. Decision-making is basically a process that includes the following stages: Information is thus, very important to take decisions. “Decision-making is usually defined as a process or sequence of activities involving stages of problem recognition, search for information, definition of alternatives and the selection of an actor of one from two or more alternatives consistent with the ranked preferences”. the selection from among alternatives of a course of action. There is no simple analytical model upon which basic strategic choices are made. If you continue browsing the site, you agree to the use of cookies on this website. Or use it to find and download high-quality how-to PowerPoint ppt presentations with illustrated or animated slides that will teach you how to do something new, also for free. The Rational Model A rational decision model assumes that there is one best, or optimal, outcome. IS CONFLICT LIKELY AMONG SUBORDINATES (OVER THE, CAN THEY CONTRIBUTE GOOD INFORMATION TO MAKE, A1 YOU SOLVE THE PROBLEM YOURSELF, WITH YOUR, DISCUSSION LIMITED TO A FEW ALTERNATIVES (ONE OR, FAILURE TO REEXAMINE THE PREFERRED ALTERNATIVE, LITTLE OR NO ATTEMPT TO OBTAIN EXPERT OR OUTSIDE, A TENDENCY TO IGNORE FACTS AND OPINIONS THAT DO, NO ATTEMPT TO LOOK AT THE SITUATION FROM A, LAUGHING AT DANGER SIGNALS MAKING LIGHT OF, LEADERS WHO DOMINATE DISCUSSIONS AND MAKE THEIR, A VERY COHESIVE GROUP THAT IS LIKELY TO MAKE POOR, ILLUSION OF INVULNERABILITY (Superiority), RATIONALIZATION (Discounting Warning Signs), STEREOTYPED VIEWS OF OUTSIDERS (Not Trusted, MINDGUARDS (Dont Let Others/outsiders Influence, ILLUSION OF UNANIMITY (Silence Means Agreement? INDIAN JOES ESTIMATES Normal 30, Wet 25, You should PLANT POTATOES EVERY YEAR. HOW IMPORTANT IS SUBORDINATE COMMITMENT TO THE, DOES THE LEADER HAVE GOOD INFORMATION TO MAKE. Looks like you’ve clipped this slide to already. It is also regarded as one of the important functions of management. Using a step-by-step decision-making process can help you make more deliberate, thoughtful decisions by … In business undertakings, decisions are taken at every step. Learn more. - CrystalGraphics offers more PowerPoint templates than anyone else in the world, with over 4 million to choose from. Title: THE NATURE OF DECISION MAKING 1 THE NATURE OF DECISION MAKING. Hopefully intelligent choices for both: ... Chapter 3: Nature, Nurture, and Human Diversity, - Chapter 3: Nature, Nurture, and Human Diversity, Researching working class students and the career decision-making process: progress to date. It's FREE! is a leading presentation/slideshow sharing website. The, The decision maker can identify all the relevant, The criteria and alternatives can be ranked and, The decision criteria are constant and the, The decision maker can obtain full information, The rational decision maker will choose the, SOME IMPORTANT CRITERIA ARE NOT IDENTIFIED, MAY ONLY COMPARE AND CONTRAST TWO OPTIONS, IS THE OPTION UNDER CONSIDERATION OK or GOOD, OVERCONFIDENCE Im 70 suremore like 50/50, CONFIRMATION Bias that remembers only data, ESCALATION OF COMMITMENT More investment in a, DECISION MAKERS KNOW WHICH OBJECTIVES THEY WANT, ALL INFORMATION NEEDED IS FULLY AVAILABLE, LIKELIHOOD OF OUTCOMES IS SUBJECT TO CHANCE, INFORMATION ABOUT OUTCOMES IS UNAVAILABLE, - - - - - - - - - - - - - - - - - - - - - - -, CLEAR UNDERSTANDING COMPUTATIONAL COMPROMISE, OF CAUSE / EFFECT - - - - - - - - - - - - - - - -, DO YOU KNOW WHAT OUTCOMES YOU WANT AND WHAT TO, ALL IMPORTANT CRITERIA ARE CLEARLY IDENTIFIED, CRITERIA ARE WEIGHTED ACCORDING TO IMPORTANCE, ALL ALTERNATIVES CAN BE MATHEMATICALLY MODELED, EXPECTED VALUE IS CALCULATED FOR EACH OPTION, THE BEST EXPECTED VALUE IS THE OPTIMAL CHOICE, USE OF EXPECTED VALUES ALWAYS LEADS TO THE, VERY HIGH PERFORMANCE ON ONE CRITERION CAN OFFSET, ARE YOU CONFIDENT THE WEIGHTS AND VALUES ARE, CONVERTED GRID (so all s are standardized), CRITERIA CAN BE RANKED OR ORDERED IN IMPORTANCE, ALTERNATIVES ARE COMPARED TO THE CUTOFF LIMITS, ONLY ALTERNATIVES WITHIN ALL CUTOFF LIMITS, THE PROCESS MAY NARROW DOWN THE OPTIONS, BUT, IN FACT, IT IS POSSIBLE THAT ALL ALTERNATIVES MAY, EXCEPTIONAL STRENGTH ON ONE CRITERION CANNOT MAKE.

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