DECISION MAKING

A Decision is a course of action which is consciously chosen for achieving a desired result . - Haynes and Massie

IMPORTANCE OF DECISION MAKING

1) 2)

3)
4)

5)

Sets the Ball Rolling Facilitates entire management process Continous Managerial Function Essentail to face new Problems and Challenges Its Delicate and Responsible Job

DECISION MAKING PROCESS

SPECIFIC OBJECTIVES IDENTIFICATION OF PROBLEMS FEEDBACK SEARCH FOR ALTERNATIVES EVALUATION OF ALTERNATIVES

RESULTS

ACTION

CHOICE OF ALTERNATIVES

TYPES OF DECISIONS
PROGRAMMED NON PROGRAMMED

STRATEGIC

TACTICAL

INDIVIDUAL VS GROUP DECISION

NATURE OF PROBLEM

TIME AND COST AVAILABILITY QUALITY OF DECISION CLIMATE OF DECISION-MAKING LEGAL REQUIREMENT

DECISION MAKING CONDITIONS

PERFECT CERTAINTY
RISK UNCERTAINTY

QUALITY ASSURANCE

QUESTIONS :1) How do Monginis select their Raw Materials ? 2) How do you take decision regarding location of 3) 4) 5) 6)
monginis shop ? What do you do with unsold products ? How do you manage to maintain your reputation in market ? How do you appoint your employees ? What decision you take when sales are not picking up in market?

Expected Sales 10,000 units Gap of Sales 2,000 units Actual Sales 8,000 units Dissatisfaction of consumer

Price and Disscounts Offers

Improvement in quality and Presentation of product

THANK YOU