DECISION MAKING

NAME : VIJAY MITTALCOURSE :BBA, L.L.BSUBJECT: PRINCIPLE OF MANAGEMENTTEACHER:NEETIKA MAM….

“It is the process of Selecting The Best Solution Among Alternatives in order to solve a problem.”

PROCESS OF DECISION MAKING

Identification

of

Problem

Analyzing causes

for problem

Developing

alternative

situations

Evaluating alternatives

&

Selecting the best method

Implementation

&

Feed back

BY TAKING AN EXAMPLE OF A FOOD CORNER I would like you introduce the process of decision making

IDENTIFICATION OF PROBLEM

Which sort of a food corner should be

opened in the food court in vaishali

2 n d Step

The large number of food outlets that provide different kinds of foods, already established in the food court.

Analyzing Causes for the Problem

3 r d Step

DEVELOPING ALTERNATIVES

A Pizza ShopIce Cream StallCoffee Shop

4 t h Step

Pros:At present there is a

good demand.

High profit per unit.

Cons:Formidable

competition

Have to create our own image which is not second to Pizza hut

Have to bear high promotional cost

EVALUATIVE ALTERNATIVES

01. Pizza Shop

Pros:High demand among every range of age

Can be provided under an affordable price

Can provide various kinds of ice cream E.g. Ice-cream Flavors such as, Chocolate & VanillaAdditionally providing sweetness like trickle & chocolate syrups

Cons:High competition E.g. Roots

Decreasing of demand due to some seasonal changes

ICE CREAM STALL

Pros:High demand

Popular among every range of age in any country

Low production cost

High sales from customized products that suit any customer need.

E.g. Diabetics, young & working crowd

Cons:Requires a certain

amount of advertising & promotions

Threads from other organizations.

E.g. Coffee Beans & Barista

04. COFFEE HOUSE

5 t h Step

SELECTING THE BEST METHOD

Coff ee House

IMPLEMENTATION & FEEDBACK

GREEN MOUNTAIN

COFFEE HOUSE

“My Blood type is coffee”

ASPECTS OF DECISION MAKING

COGNITION: COGNITION IS AN ACTIVITES OF MIND ASSOCIATED WITH KNOWLEDGE

CONATION: THE ACTION OF MIND IMPLIED BY SUCH WORDS AS WILLING DESIRE ETC

;

TYPES OF DECISION MAKING

• PROGRRAMED DECISION

• NON PROGRAMMED DECISION

• STRATERGIC

• TACTICAL DECISON

PROGRAMMED: programed decision are the routine respective & are within the organizational policies

NON PROGRAMMED : are relevant for solving unique unusual problems in which various alternatives and not we decidedin advance for such decision the situation is not well structured and the outcomes of the various alternatives in advance .

Strategic : strategic decision is a major choice of actions concerning allocation of resources & contribution to the achievement organization of objectives

Tactical decision : tactical or operational decision is desired out of strategic decision it relates to day to day working of the organization & is make is the context of the well set policies & procedure

THAMK YOU VERY MUCH