factor influncing decision making in international management
TRANSCRIPT
Factor Influencing
Decision Making
Outlines
Introduction
What is decision making ?
Decision making situation
Types of decisions
Factors influence decision making
Internal factors
External factors
Conclusion
IntroductionEvery day people are posed with options and choices to make. In the many actions and situations that individuals face each day, decisions have to be made. To some, decision making seems like a complicated and difficult thing to do.
According to studies, a lot of people are poorer in coming up with decisions than they think. That is why leaders exist to take the role of decision makers for the group ,team & organization. Yet, a good knowledge of the concept of decision making, the skills needed, and some tools or techniques to be used will help in developing sound decisions
Decision Making
Decision making is a complex, cognitive process often defined as choosing a particular course of action. Webster’s definition—to “judge or settle”—is another view of decision making.
OR
a systematic cognitive process in which there must be an identification of alternatives.
Decision making situation: The situation in which decisions are made. It may be personal or
organizational.
Personal decision making: is a familiar part of everyday life.
Organizational decision making: is choosing options directed toward the resolution of
organizational problems and the achievement of organizational goals.
Decision making situation
Organizational strategy
stress
Resources (finincial,staff,technology)
The CEO’S psychological make-up
Policies and system
Organizational culture
Factors influence decision makingInternal factors
Factors influence decision makingInternal factors
Routine versus non routine decision
Critical nature of work.
Degree of acceptance and support.
Managers' personal ability.
experience and knowledge .
Factors influence decision makingexternal factors
Decision made by competitors
Decision made by suppliers
Decision made by customer
Labor market
Technology
Economic environment
Factors influence decision makingexternal factors
Trade union
Consumer group
Laws & regulation
Financial market
Local,national,regional & international politics
EXTERNAL FACTORS
External Factors
The Organization
INTERNALFACTOR
FactorInfluencing
Decision Making
jjklljljvckhjPresented By :
Prasanna Koirala
Franklin university
