DECISION MAKING PROCESS

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DECISION MAKING PROCESS 


Decision making is the process of choosing what to do by considering the possible consequences of different choices. 

It is daily activity for any human being and there is no exception about that.



Decision Making Model :-


• Identify the decision to be made :-

The decision making process begins with a situation or a problem to be addresses or solved.

After the identification of the purpose of the decision you realize that a decisions must be made.


• Gather relevant information :-

Most decisions required collecting pertinent info. 

The real trick in this step is to know what information is needed, the best sources of this information and how to go about getting it.


• Identify alternatives :-

Through the process of collecting information you will probably identify several possible paths of action or alternatives. 


• Weight the evidence :-

In this step, the baseline criteria for judging the alternatives should be setup. 


• Making a choice :-

Maximize :- a decision realize the best possible outcome. 

Satisfies :- choose an option that is acceptable although not necessarily the best or perfect. 

Optimizing :- achieving the best balance among several goals.


• Take action.


• Review the decision.




Decision Making Process :-


• Identify and diagnosing the problem 

Recognize that a problem exists and must be solved. 


• Problem difference between current state and 

- Past performance.

- Current performance of the other organization.

- Future expected performance.


• Decision maker must want to resolve the problem and have the resources to do so.


• Generating alternative solution 

- Ready made means ideas that have been.

- Custom made means combining new ideas into solution.


• Evaluating alternatives 

- Determines the value or adequacy of the alternatives.

- Predict the consequences that will occur if the various options are put into effect. 

- Managers should consider several types of consequences contingency plans.

- Alternative course of action.


• Making the choice 

- Maximize.

- Satisfies.

- Optimizing.


• Take action.


• Review the decision.


Location: Julana, Haryana 126101, India

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