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Decision-making is a crucial part of good business. The question then is 'how is a good decision made?
One part of the answer is good information, and experience in interpreting information. Consultation ie seeking the views and expertise of other people also helps, as does the ability to admit one was wrong and change one's mind. There are also aids to decision-making, various techniques which help to make information clearer and better analysed, and to add numerical and objective precision to decision-making (where appropriate) to reduce the amount of subjectivity.
Managers can be trained to make better decisions. They also need a supportive environment where they won't be unfairly criticised for making wrong decisions (as we all do sometimes) and will receive proper support from their colleague and superiors. A climate of criticism and fear stifles risk-taking and creativity; managers will respond by 'playing it safe' to minimise the risk of criticism which diminishes the business' effectiveness in responding to market changes. It may also mean managers spend too much time trying to pass the blame around rather than getting on with running the business.
Decision-making increasingly happens at all levels of a business. The Board of Directors may make the grand strategic decisions about investment and direction of future growth, and managers may make the more tactical decisions about how their own department may contribute most effectively to the overall business objectives. But quite ordinary employees are increasingly expected to make decisions about the conduct of their own tasks, responses to customers and improvements to business practice. This needs careful recruitment and selection, good training, and enlightened management.
Types of Business Decisions
1. Programmed Decisions These are standard decisions which always follow the same routine. As such, they can be written down into a series of fixed steps which anyone can follow. They could even be written as computer program
2. Non-Programmed Decisions. These are non-standard and non-routine. Each decision is not quite the same as any previous decision.
3. Strategic Decisions. These affect the long-term direction of the business eg whether to take over Company A or Company B
4. Tactical Decisions. These are medium-term decisions about how to implement strategy eg what kind of marketing to have, or how many extra staff to recruit
5. Operational Decisions. These are short-term decisions (also called administrative decisions) about how to implement the tactics eg which firm to use to make deliveries.
What else can I help you with?
What factors effect decision making discuss how an effective decision making could have an impact on organization success. the process needs to be evaluated and shows how it relates to the success?
If your motives and intent are pure, trust God and make your move.
Why management equated to decision making?
Decision making is the key aspect of management. There are lots of decisions that needs to be made by an organization's management in order to move the organization forward.
Correct sequence for decision making process?
what is the correct sequence in the policy making process
Describe decision making steps in the decision making process?
Manger is the most important person of the organization he has to take all kinds of resources utilization decision. for example: Human resource, that must be placed in the proper place. in the operation of factory he must decide from the raw material to sales process. In the general sense we can say that decision making is the one of the most vital function of the management that approach the best alternative among the available alternative. Decision making is the most challenging job for the manager, there are so many steps to take the decision if he follow the some major steps that will be the rational decision from his/her organization. They are: 1. Collect needed information from the internal sources of organization. 2.Collect needed information from task and external sources of organization. 3. Environment scanning 4. Analise the opportunities 5. Getting some related information from expert. 6. Draft circular to subordinates 7. Collect the feed back from all 8. Decision making.
What is the decision making process in business?
dont no
Who has more authority in the decision-making process?
In most cases, the person with more authority in the decision-making process is the one who holds a higher position or has more power within the organization or group.
Why is decision making a life- wire at every organization?
Decision making is a life wire to every organization
What is the purpose of the administrative review process and how does it impact decision-making within the organization?
The purpose of the administrative review process is to evaluate and assess the decisions and actions taken by an organization's administration to ensure they align with policies, procedures, and regulations. This process impacts decision-making within the organization by providing a mechanism for oversight, accountability, and improvement. It helps identify areas for enhancement, correct errors, and ensure compliance with standards, ultimately leading to more informed and effective decision-making.
What the decision making process in driving is known as?
the decision making process in driving is known as
Does communication has a bearing on your decision making process?
Communication has a bearing on your decision making process.
What is an administrative review and how does it impact the decision-making process within an organization?
An administrative review is a formal evaluation process conducted within an organization to assess the effectiveness and efficiency of its administrative functions. It impacts the decision-making process by providing insights and recommendations for improving operational procedures, resource allocation, and overall performance. This helps the organization make informed decisions to enhance productivity and achieve its goals.
Stage of decision making process?
Explain stages of (of ) in decision making process, with the flow chart?
What factors effect decision making discuss how an effective decision making could have an impact on organization success. the process needs to be evaluated and shows how it relates to the success?
If your motives and intent are pure, trust God and make your move.
Determine factors affecting decision implementation in an organization?
what are the factors that affecting decision making what are the factors that affecting decision making what are the factors that affecting decision making what are the factors that affecting decision making what are the factors that affecting decision making
Why management equated to decision making?
Decision making is the key aspect of management. There are lots of decisions that needs to be made by an organization's management in order to move the organization forward.
What is decision and decision making?
Decision making is the process by which a decision is made. Communicating, when it comes to decision making, is the way the information about that decision is distributed to ensure everyone is aware.
What is the purpose of the decision making process?
The purpose of the decision making process is to ensure that you have considered all possible options and are satisfied with the choices you are making.
