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Decision making

The process of decision making and its importance are well explained in the given slides.

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Decision making

  2. 2. 1. Meaning 2. Types 3. Process 4. Nature 5. Importance CONTENTS
  3. 3. It is the process of identifying and selecting a course of action to solve a specific problem. According to Stephen P Robbins “Decision making is defined as the selection of a preferred course of action from two or more alternatives.” MEANING
  4. 4. There are three types of decisions in management. They are as follows: 1. Routine decision 2. Non-routine decision 3. Technically-guided decisions TYPES
  5. 5. 1. Problem identifying 2. Collect information in sequence 3. Extract relevant information 4. Evaluate given problem 5. Finding alternatives 6. Make decision PROCESS
  6. 6. 1. Selection or choice 2. Find out best possible action 3. Pervasive function NATURE
  7. 7. 1. Better utilization of resources 2. Facing problems and challenges 3. Business growth 4. Achieving objectives 5. Increase efficiency 6. Motivate employees IMPORTANCE
  8. 8. THANK YOU !!!!