Decision making process ppt
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Transcript of Decision making process ppt
![Page 1: Decision making process ppt](https://reader035.fdocuments.in/reader035/viewer/2022062306/588982d31a28ab461b8b60b7/html5/thumbnails/1.jpg)
DECISION MAKING PROCESS
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DECISION MAKINGDECISION MAKING IS NOT EASY
• IT Must be done amid •Ever-changing factors •Unclear information •Conflicting points of view
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DECISION AND DECISION MAKING
DECISION = Choice made from available alternatives.
DECISION MAKING = Process of identifying problems and opportunities and resolving them.
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THE SIGNIFICANCE OF DECISION MAKING
Better Utilisation Of Resources Facing Problems And Challenges Business Growth Achieving Objectives Increases Efficiency Facilitates Innovation Motivate Employees
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DECISION MAKING PROCESS
IDENTIFICATIONOF A PROBLEM
IDENTIFICATIONOF DECISION
CRITERIA
ALLOCATIONDEVELOPMENT
ANALYSIS
EVALUATION
IMPLIMENTATIONSELECTION
1 2
34
5
6 7
8
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•IDENTIFICATION OF A PROBLEM1
Problem is a discrepancy (difference)
between an existing and a desired state.
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The word criteria, is defined as “a
standard by which something can be
judged”.
•IDENTIFICATION OF DECISION CRITERIA2
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•ALLOCATION OF WEIGHTS TO CRITERIA3
The next step in the decision making process is prioritization.
Prioritization is achieved by assigning quantitative weights to each criteria element.
The weightage defines the relative significance of each element.
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• DEVELOPMENT OF ALTERNATIVES4
Involves defining the possible alternatives (or choices) that would resolve the problem.
In our case, the alternatives would be a list of candidates or job applicants.
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•ANALYSIS OF ALTERNATIVES5
Alternatives are rated and analyzed on the basis of the criteria
The rating can be based on a specified scale, say 1 – 5 etc.
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•SELECTION OF AN ALTERNATIVE6
Involves choosing the best alternative, based on the above rating and analysis
Generally implies selecting the alternative with the highest score.
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• IMPLIMENTATION OF AN ALTERNATIVE
7 Putting the decision
into action. Involves clear
communication of the decision to all concerned and obtaining their commitment.
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• EVALUATION8 Evaluation forms an integral
part of any process. Involves evaluation of the
outcome based on the desired goal and criteria.
Involves assessing the effectiveness and efficiency of the outcome (or the entire process).
In case of any undesired results, each step of the process is carefully reviewed to trace the root causes.
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DECISION MAKING“A DECISION IS A JUDGMENT. IT IS A CHOICE BETWEEN ALTERNATIVES. IT IS RARELY A CHOICE BETWEEN RIGHT AND
WRONG. IT IS AT BEST A CHOICE BETWEEN “ALMOST RIGHT” AND “PROBABLY WRONG”. -DRUCKER
“A manager by profession is a decision maker; Uncertainty is his opponent, overcoming
it is his mission.”
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One more thing…..