Decision Making is one of the important function, Justify. Give process & importance of Decision Making.
From India, Mumbai
From India, Mumbai
Decision Plays a key role in any administration. Timely decision making is most important.
To take decision, one should have an authority. Moment decisions will also play a vital role.
All these again depends upon hierarchy and management policy, responsibility-authority etc.
D.Gurumurthy
HR/IR Consultant
From India, Hyderabad
107To take decision, one should have an authority. Moment decisions will also play a vital role.
All these again depends upon hierarchy and management policy, responsibility-authority etc.
D.Gurumurthy
HR/IR Consultant
From India, Hyderabad
Dear Ippalpalli, What do you do and in which industry? Why are you seeking an answer for the question? If you can make the scenario clear, you will get a suitable answer.
From United Kingdom
From United Kingdom
hello sir ! i am a student, doin my masters in labour studies at maharashtra institute of labour studies.... this is just an assignment question given to us... thanks for your response...
From India, Mumbai
From India, Mumbai
I thought so; but did not want to assume as you know as wrong assumption leads to "ASS U ME", like my tutor warned us. Rather than seek answers on-a-plate, I suggest that as students we should post what we think our response would be and then request bloggers to help improve it.
From United Kingdom
From United Kingdom
Dear Sanjay,
i have tried to satisfy your answer...
importance of decision making
1. Better Utilisation of Resources
Decision making helps to utilise the available resources for achieving the objectives of the organisation. The available resources are the 6 Ms, i.e. Men, Money, Materials, Machines, Methods and Markets. The manager has to make correct decisions for all the 6 Ms. This will result in better utilisation of these resources.
2. Facing Problems and Challanges
Decision making helps the organisation to face and tackle new problems and challenges. Quick and correct decisions help to solve problems and to accept new challenges.
3. Business Growth
Quick and correct decision making results in better utilisation of the resources. It helps the organisation to face new problems and challenges. It also helps to achieve its objectives. All this results in quick business growth. However, wrong, slow or no decisions can result in losses and industrial sickness.
4. Achieving Objectives
Rational decisions help the organisation to achieve all its objectives quickly. This is because rational decisions are made after analysing and evaluating all the alternatives.
5. Increases Efficiency
Rational decisions help to increase efficiency. Efficiency is the relation between returns and cost. If the returns are high and the cost is low, then there is efficiency and vice versa. Rational decisions result in higher returns at low cost.
6. Facilitate Innovation
Rational decisions facilitate innovation. This is because it helps to develop new ideas, new products, new process, etc. This results in innovation. Innovation gives a competitive advantage to the organisation.
7. Motivates Employees
Rational decision results in motivation for the employees. This is because the employees are motivated to implement rational decisions. When the rational decisions are implemented the organisation makes high profits. Therefore, it can give financial and non-financial benefits to the employees.
and apart from that if you have any query you can copy my assignment. see you in the class
Reagrds,
Priya
From India, Mumbai
i have tried to satisfy your answer...
importance of decision making
1. Better Utilisation of Resources
Decision making helps to utilise the available resources for achieving the objectives of the organisation. The available resources are the 6 Ms, i.e. Men, Money, Materials, Machines, Methods and Markets. The manager has to make correct decisions for all the 6 Ms. This will result in better utilisation of these resources.
2. Facing Problems and Challanges
Decision making helps the organisation to face and tackle new problems and challenges. Quick and correct decisions help to solve problems and to accept new challenges.
3. Business Growth
Quick and correct decision making results in better utilisation of the resources. It helps the organisation to face new problems and challenges. It also helps to achieve its objectives. All this results in quick business growth. However, wrong, slow or no decisions can result in losses and industrial sickness.
4. Achieving Objectives
Rational decisions help the organisation to achieve all its objectives quickly. This is because rational decisions are made after analysing and evaluating all the alternatives.
5. Increases Efficiency
Rational decisions help to increase efficiency. Efficiency is the relation between returns and cost. If the returns are high and the cost is low, then there is efficiency and vice versa. Rational decisions result in higher returns at low cost.
6. Facilitate Innovation
Rational decisions facilitate innovation. This is because it helps to develop new ideas, new products, new process, etc. This results in innovation. Innovation gives a competitive advantage to the organisation.
7. Motivates Employees
Rational decision results in motivation for the employees. This is because the employees are motivated to implement rational decisions. When the rational decisions are implemented the organisation makes high profits. Therefore, it can give financial and non-financial benefits to the employees.
and apart from that if you have any query you can copy my assignment. see you in the class
Reagrds,
Priya
From India, Mumbai
Thank you so much AK Arora sir.i have already gone through this link its very nice book.and quite interesting to study Hope it will beneficial for us as per as exam point of view.Thanks once again
From India, Mumbai
From India, Mumbai
My advice to students is similar to Aussijohn's who says something like "Search first and then seek..." There is a good website where one can get some answers. That site is decision-making and problem-solving techniques, skills and methods
I wonder where is Ipplaplli after raising the question?
From United Kingdom
I wonder where is Ipplaplli after raising the question?
From United Kingdom
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EFFICIENT DECISION MAKING technic.pdf
Decision-Making .zip
COST INPUTS IN DECISION MAKING.ppt