pricinples of managment

7/31/2019 Pricinples of Managment

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DECISION-MAKING

FYBMS/B


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GROUP NAMES

Urvashi. Solanki

Ankit. Rathod

Devendra. Nimbarkar

Nikhil. Malvankar

Varsha. Wanare

Shruti. Nair


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INTRODUCTION OF

MANAGEMENTManagement in simple terms means the act of

getting people together to accomplish desiredgoal. Management comprises planning,organizing, resourcing, leading, directing &controlling an organization (a group of one or

more people or entities) or effort for the purposeof accomplishing a goal resourcing encompassesthe development


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DECISION-MAKING


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WHAT IS DECISION-MAKING

To understand the important of decision making you

must know that decision making is called it choiceamong option. In Feching Decision making toAdolescents (1991), it is defined as the process ofmaking choices among competing course of action..


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In other words Good decision making is an essential skill for carrier

success generally, and effective leadership particularly.

If you can learn to make timely and well considereddecision, then you can often lead your team tospectacular and well- deserved success. However, ifyou make poor decision your team risks failure and

your time as a leader will, most like, be brutally short.


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DEFINATIONThe Oxford Dictionarydefine the term decision-

making as the action of carrying out or carrying intoeffect.

According to Haynes and Massie A decision is acourse of action which is consciously chosen for

achieving a desired result.


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Techniques of Decision-MakingAll of us to make decisions every day. Some decision are

relatively straight forward & simple. Simple decision

making usually need a simple decision making process.But difficult decision typically involve issues like this.

Uncertainity.

Complexity.High-risk consequence.

Alternative.

Interpersonal.


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MODERN TECHNIQUES OR

DECISION MAKING PROGRAMMED DECISION-MAKING TECHNIQUES:-

Linear Programming.

Game Theory.

Simulation.

Queuing Theory.

Network Techniques. Probability Decision Theory.

Payoff Matrix.

Decision Tree.


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Modern Techniques For Making

Non-Programmed Decision.

Brainstorming Techniques.

Nominal Group Techniques.

Delphi Techniques.

Quality Circles.

Heuristic Techniques.


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Types of Effective Decision

Create a constructive element.

Generate good alternatives.

Explore these alternatives.

Choose the best alternative.

Check your decision.

Communicate your decision and move action.


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Decision-Making Skills & Techniques

Identify the purpose of your decision.

Gather Information.

Identify the principles to judge the alternatives. Brainstorm & list different possible choices.

Evaluate each choice in terms of its consequences.

Determine the best alternatives.

Put the decision into action.

Evaluate the outcome of your decision & action steps.


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Importance/Advantages of

Decision-Making It is the thread of the entire managerial

process

The specific job of the managers.

Basis of ManagerialFunction

Planning is essentially a choosing activity.

Managers sets the objectives to achieve goal;Core of Planning

Organization is a complex network ofdecisional process.

Decision maker is the architect of

organization.

Building soundorganization structure

It is through his decision that a managergives direction to efforts and activities ofhis sub-ordinateProvides Direction


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Its control from organization success.

Managers have to take a corrective actionin case of deviations.

Basis of effectivecontrol.

Go decision making for any organization.

It is the risk-taking and a challenge tojudgment.

Path of success

Decisions provide creative solutions toproblems.Means to

problem solving.

Mangers can face challenges ofmodern times through good decisions.To face

challenges.


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Process ofDecision-Making

IdentifyingThe

Problem

Analysingthe Problem

DevelopingAlternative

Solutions

Selecting theBest

Solution

ConvertingDecision

into Action

Follow-up ofActionTaken


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CONCEPTS OF DECISION-MAKING

Information.

Alternatives.

Criteria. Goals.

Value.

Preferences.

Decision Quality.

Acceptance.


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Making a careerDecision

Research

SelfCareer cateria

lifestyle cateria

Career

Generate alternatives

Reach a DecisionPoint

Positive &

NegativeEmotions


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A Basic Decision-Making

Model


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INPUT

OUTPUT

Problem

Solving

DecisionMaking


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THANK YOU

pricinples of managment

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