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    Managerial Decision Making

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    TSg Nemenio E
    Decision making is a vital process for good management that involves identifying problems or opportunities and choosing solutions from available alternatives. There are different types of decisions including program decisions, which address recurring issues, and non-program decisions that deal with strategic planning and greater uncertainty. The level of certainty or risk in a decision depends on how much complete information is available. The steps of decision making include recognizing the need, diagnosing causes, developing alternatives, selecting an alternative, implementing it, and evaluating outcomes with feedback. Effective decision making helps organizations solve problems, allocate resources properly, and achieve their goals.

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    Managerial Decision Making

    Uploaded by

    TSg Nemenio E
    16 views12 pages
    Decision making is a vital process for good management that involves identifying problems or opportunities and choosing solutions from available alternatives. There are different types of decisions including program decisions, which address recurring issues, and non-program decisions that deal with strategic planning and greater uncertainty. The level of certainty or risk in a decision depends on how much complete information is available. The steps of decision making include recognizing the need, diagnosing causes, developing alternatives, selecting an alternative, implementing it, and evaluating outcomes with feedback. Effective decision making helps organizations solve problems, allocate resources properly, and achieve their goals.

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    Decision making

    Original Title

    Managerial-Decision-Making

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    Decision making is a vital process for good management that involves identifying problems or opportunities and choosing solutions from available alternatives. There are different types of decisions including program decisions, which address recurring issues, and non-program decisions that deal with strategic planning and greater uncertainty. The level of certainty or risk in a decision depends on how much complete information is available. The steps of decision making include recognizing the need, diagnosing causes, developing alternatives, selecting an alternative, implementing it, and evaluating outcomes with feedback. Effective decision making helps organizations solve problems, allocate resources properly, and achieve their goals.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    16 views12 pages

    Managerial Decision Making

    Uploaded by

    TSg Nemenio E
    Decision making is a vital process for good management that involves identifying problems or opportunities and choosing solutions from available alternatives. There are different types of decisions including program decisions, which address recurring issues, and non-program decisions that deal with strategic planning and greater uncertainty. The level of certainty or risk in a decision depends on how much complete information is available. The steps of decision making include recognizing the need, diagnosing causes, developing alternatives, selecting an alternative, implementing it, and evaluating outcomes with feedback. Effective decision making helps organizations solve problems, allocate resources properly, and achieve their goals.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 12

    Decision-Making

    Management
    Decision making:
     is the process of identifying problems and opportunities
    and resolving them.

     is choice made from available alternatives.

    Decision Making is a vital part in good


    management;

     Determine how good the organization solve problem.


     How to allocate resource.
     Accomplish its goals.
    Program Decision
    Decision are made in response to situation that has occurred
    often enough to enable managers to develop decision rules
    that can be applied in the future.

    Decision are made in response to recurring organizational


    problems. (inventory)

    Non-Program Decision
    Decision are related to strategic planning because uncertainty
    is great and decision are complex. (create/relocate)

    Reduce decision uncertainty


    Information and Failure scale

    Certainty means all the information the decision maker needs is


    fully available. Complete data

    Risk means that decision has a clear-cut goals and that good
    information is available, but the future outcomes associated with
    each alternatives are subject to some chances of lost or failure

    Uncertainty means that managers know which goals they wish to


    achieve, but information about alternatives and future events is
    incomplete. Assumption

    Ambiguity means that goals to achieve or the problem to be solve


    is unclear, alternatives are difficult to define , and information
    about outcomes is unavailable. Eliminate this factor
    Steps of Decision-Making
    1. Recognize decision requirement (periodic information)
    2. Diagnosis and analysis of causes
    a) Disequilibrium?
    b) How, Where & When did it occur?
    c) Urgency of the problem?
    d) Interconnectedness of events?
    e) Result?
    f) Continue to ask 5 Why?
    3. Development of Alternatives (internal & external source)
    4. Selection of desired Alternatives (willingness to accept risk for high
    payoff)

    5. Implementation of alternatives (make it happen)


    6. Evaluation and feedback (monitoring)

    Decision-Making is not always easy.


    Steps of Decision-Making
    1. Recognize decision requirement

    Awareness of a problem or
    opportunity is the in decision-
    making sequence.

    Information comes from periodic


    reports such as performance /
    financial reportsm and other sources
    that are designed to discover
    problem before they become too
    serious
    Steps of Decision-Making
    2. Diagnosis and analysis of causes

     Disequilibrium?
     How, Where & When did it occur?
     Urgency of the problem?
     Interconnectedness of events?
     Result?
     Continue to ask 5 Why?
    Steps of Decision-Making
    3. Development of Alternatives (internal & external source)

     Generate possible alternative


    solution that will respond to the
    needs of the situation and
    correct the underlying causes.

     Alternatives can be throught of


    as tool for reducing the
    differrence between the
    organization’s current and
    desired performance.
    Steps of Decision-Making
    4. Selection of desired Alternatives

     Select Alternatives
     Least amount of risk and uncertainty
     Try to gause the prospects for success
     Rely on their intuition and experience
     Depends on managers’ personality
    Steps of Decision-Making
    5. Implementation of alternatives (make it happen)

    Implementation is all about the use of


    managerial, administrative. And
    persuasive abilities to ensure that the
    chosen alternative is carried out.
    Steps of Decision-Making
    1. Recognize decision requirement (periodic information)
    2. Diagnosis and analysis of causes
    a) Disequilibrium?
    b) How, Where & When did it occur?
    c) Urgency of the problem?
    d) Interconnectedness of events?
    e) Result?
    f) Continue to ask 5 Why?
    3. Development of Alternatives (internal & external source)
    4. Selection of desired Alternatives (willingness to accept risk for high
    payoff)

    5. Implementation of alternatives (make it happen)


    6. Evaluation and feedback (monitoring)

    Decision-Making is not always easy.


    Thank you and Good day

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