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Decision Making

Decision-making can be regarded as a problem-solving activity yielding a solution deemed to be optimal, or at least satisfactory. It is therefore a process which can be more or less rational or irrational and can be based on explicit or tacit knowledge and beliefs. Tacit knowledge is often used to fill the gaps in complex decision-making processes.[3] Usually, both of these types of knowledge, tacit and explicit, are used together in the decision-making process.

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Decision Making

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  1. RMM Technologies Pvt Limited DECISION MAKING

  2. AGENDA • Decision Making • Definition • Characteristics of Decision Making • Principle of Decision Making • Types of Decision Making • Process of Decision Making • successful Strategies for Decision Making

  3. Decision Making • One of the function of management is Decision-making • Decision may be rational or irrational • Best decision making is necessary for effective functioning of management DEFINITION • Manely H. Jones: it is the solution selected after examining several alternatives chosen by George. • R Terry: Decision-making is the selection based on some criteria from two or more possible alternatives

  4. Characteristics of Decision Making • From various courses of action, it is a process of choosing a particular course of action. • It is a human process which involves the application intellectual abilities. • It is a rational process which is proceeded by deliberation and reasoning. • It may also be called as end process.

  5. Principle of Decision Making • From various courses of action, it is a process of choosing a particular course of action. • It is a human process which involves the application intellectual abilities. • It is a rational process which is proceeded by deliberation and reasoning. • It may also be called as end process. • It is always related to situation in which a manager may take one decision in a particular set of circumstances and another in a different set of circumstances. • This involves certain specific purpose in which these may just be decisions not to decide.

  6. Types of Decision Making • Business Decision making: includes decisions that are made that determine business or organization outcomes. • Personal decision-making: Has the decisions that determine who we are as individuals and the outcomes we create for ourselves and others with which we have relationships. This category includes what is sometimes referred to as life decisions. Image of consumer definition • Consumer decision making: consists of choices that determine our effectiveness in purchase decisions that occur in either a personal or business context. In this case, the consumer (entity) can be an individual or a person within a business.

  7. Decision Making Process

  8. Successful Strategies For Making Process • Building extensive networks of individuals and groups who could provide them with resources • Searching the nursing, hospital and business literature • Communicating regularly and repeatedly about decision activities to organization members • Directing the majority of their time and energy towards the accomplishment of their plan.

  9. THANK YOU for more information please log on to www.rmmindia.com “You cannot make progress without making decisions.”

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