Decision Making What is the Decision choice made
- Slides: 15
Decision Making
What is the Decision ? choice made from available alternatives
What is the decision making? process of identifying problems and opportunities and resolving them
Tools for Making Decisions • Multivoting • Nominal Group Technique
What Is Multivoting? A group decisionmaking technique used to reduce a long list of items to a manageable number by means of a structured series of votes.
Multivoting Reduces long lists of ideas Identifies important items
Benefits of Multivoting • Reduces a list • Prioritizes a list • Identifies important items
Assign letter to each item Work from a large list Tally the votes Vote Multivoting Procedures Repeat
What Is Nominal Group Technique A weighted ranking method that allows a group to generate and prioritize a large number of issues within a structure that gives everyone an equal voice.
Nominal Group Technique Generates ideas Prioritizes items
Benefits of Using NGT • Reduces the number of issues • All team members participate • Rank orders items
NGT Parts 1 - Define the Issue and Generate Ideas • Define the issue • Generate ideas • Collect ideas • Clarify ideas • Combine ideas 2 - Make the Selection • Assign letters to ideas • Rank ideas independently • Collate the rankings • Add the rankings • Rewrite the list in priority order.
Six Steps in the Decision-Making Evaluation and Feedback Implementation of Chosen Alternative Decision. Making Process Selection of Desired Alternative 13 Recognition of Decision Requirement Diagnosis and Analysis of Causes Development of Alternatives
Summary • The difference between decision and decision making • Tools for decision making • What is the Multivoting and its benefits ? • What is the nominal group technique and its benefits ? • The six steps in the decision making
- No decision snap decision responsible decision
- Investment decision financing decision dividend decision
- Good choice or bad choice
- A is a choice made from among available alternatives
- Making a career choice begins with
- Strategic analysis and choice in strategic management
- Process choice
- Making inferences
- War making and state making as organized crime
- Stages in consumer decision making process
- Options-based planning
- Decision making and creativity organizational behavior
- Six decision making steps
- Ethical decision making
- Ibear decision making model
- Making decision is a fundamental life skill