A

Detailed Study

On

“ Decision Making Technique ”

Submitted by
CHETAN JAGTAP   18

Submitted To

Prof. Sanjeev Kadam

SARASWATI COLLEGE OF ENGINEERING,

Department of

Master of Management Studies

Kharghar, Navi Mumbai

Decision Making :
Decision Making is a mindful human process involving both individual and
socialphenomenon based upon accurate and value premises which concludes with
a choice of one behavioral activity from among one or more alternatives with the
intention of moving toward some desired state of affairs.

Techniques For Decision Making :

1) Delphi Technique

o This technique developed by OLAF HELMER and his colleagues at RAND

Corporation, has a degree of scientific respectability and acceptance.
o A panel of expert on a particular problem area is selected, usually from both
inside and outside the organization.

o The expert are asked to make (Secretly, so that they will not influenced by
others) a forecast as to what they think will happen, and when, in various
areas of new discoveries or development.

 Involves achieving non-interactive consensus on a topic through sequential

questionnaires that are summarized and used as feedback of opinions from
earlier responses.

2) Brainstorming Technique

o Alex F Osborn is called father of Brainstorming.

o In the brainstorming session, a multiplication of ideas is sought.
o The purpose of this approach is to improve problem solving by finding new
and unusual solution.
o The rules of brainstorming art as follows
 No ideas are ever criticized.
 The more radical (far-reaching); the ideas are, the better.
 The quantity of idea production is stressed.
 The improvement of ideas by others is encouraged.

 Groups are expected to produce imaginative solutions to organizational

problems.
 No idea is too ridiculous.
 Each idea presented belongs to the group.

3) SWOT Analysis

This is a technique which help decision making by analyzing organization’s

internal strength and weaknesses and external opportunities and threats.

4) Creative Thinking

Creative Thinking is the process of bringing a problem before one’s mind

clearly by imaging, visualizing, guesswork, study, and then originating an
idea, concept, realization, or picture along new or original lines. It involves
study and suggestion rather than action.
 Stages in Creativity Process :

o Saturation: Thorough familiarity of problem itself, its history, its importance

to other parts of business.
o Preparation: Decision Maker tries to collect information relating to the
problem.
o Incubation: During the process of incubation, the mind will work
subconsciously to create certain new ideas.
o Illumination: flash of insight or a sudden spontaneous solution.
o Verification: verifying, modifying or applying the ideas toward the solution.

5) Synectics

Analysing the problem but well not find out the solution to the problem.

6) Nominal Grouping Technique

A process that brings about consensus through a prescriptive method of

group interaction

o Each idea is discussed before a vote is taken.

o Ideas are prioritized by ranking or voting.
o The group decision is the mathematically pooled outcome of the individual
votes.