BON SECOURS ARTS SCIENCE COLLEGE FOR WOMEN MANNARGUDI

BON SECOURS ARTS & SCIENCE COLLEGE FOR WOMEN MANNARGUDI Decision Making Process By SUBA. C M. Com, M. Phill, B. Ed Asst. Professor BON SECOURS ARTS & SCIENCE COLLEGE FOR WOMEN MANNARGUDI

What is a Decision? • Choice between two or more alternatives • If you only have one alternative, you do not have a decision.

Decision Making • “Decision-making involves the selection of a course of action from among two or more possible alternatives in order to arrive at a solution for a given problem”. • Decision making process is a consultative affair done by a comity of professionals to drive better functioning of any organization

Decision Making Process

Decision Making Process • The step by step method for taking decisions • A decision maker should follow these steps before taking decisions

The Decision Making Process Define the Problem Gather facts and develop alternatives Evaluate Alternatives Select the best alternative. Implement the chosen Alternative Follow up and evaluate the chosen alternative.

Identify The Problem : A discrepancy between an existing and desired state of affairs Characteristics : A problem becomes a problem when a manager becomes aware of it there is a pressure to solve the problem the manager must have the authority, information, or resources needed to solve the problem.

Identify The Decision Criteria Decision criteria are factors that are important ( relevant) to resolving the problem. Costs that will be incurred (investment required). Risks likely to be encountered ( chance of failure). Outcomes that are desired ( growth of the firm).

Allocating Weights to the Criteria Decision criteria are not of equal importance: Assigning a weight to each item. Places the items in the correct priority order of their importance in the decision making process.

Generate Alternative Solutions A problem can be solved by different alternative solutions Develop alternative solutions Think on all the alternative possible solutions

Evaluate And Choose Among Alternative Solutions Feasibility Acceptability Costs Ethics Quantitative or qualitative approaches Forecast the result

Selecting The Alternative Choosing the best alternative The alternative with the highest total weight is chosen. The best alternative is the one that produces the most advantages and the fewest serious disadvantages. Sometimes, the optimal solution combination of several alternatives.

Implement And Monitor The Chosen Solution Reveals its effectiveness and significance in achieving the desired goals Depends on careful planning and sensitivity To ensure that the alternative put into action is moving towards the objectives Confirms that the organization goals have been achieved.

1 • Define the Problem, objectives & goals 2 • Identify The Decision Criteria 3 • Allocating Weights to the Criteria 4 • Gather facts and develop alternatives 5 • Evaluate Alternatives 6 • Select the best alternative 7 • Implementing the Alternative 8 • Evaluate the decision’s effectiveness

Decision Making Process Always continuous & dynamics It is not only a process and also a practice A good decision maker will be the good manager Be a best decision maker. . , Be a best manager

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