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Decision

This document outlines the decision-making process, including its key components, steps, models, and types of decisions. The components are the decision makers, alternatives, criteria, consequences, and objectives. The steps are defining the situation, identifying alternatives, evaluating them, selecting the best, implementing it, and following up. Two models are described - the classical rational model and the administrative bounded rationality model. Decision types vary based on frequency, conditions, time horizons, number of decision makers, and organizational level.

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Cosmin Reissler
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58 views6 pages

Decision

This document outlines the decision-making process, including its key components, steps, models, and types of decisions. The components are the decision makers, alternatives, criteria, consequences, and objectives. The steps are defining the situation, identifying alternatives, evaluating them, selecting the best, implementing it, and following up. Two models are described - the classical rational model and the administrative bounded rationality model. Decision types vary based on frequency, conditions, time horizons, number of decision makers, and organizational level.

Uploaded by

Cosmin Reissler
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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THE DECISIONAL

PROCESS
The Components of the Decisional
Process
1. The decident (s)
2. The decisional alternatives
3. The decisional criterias
4. The evaluation criterias
5. Business Environment
6. The consequences
7. The objectives
The steps of the decisional process
 Recognizing and defining the situation
 Identifying alternatives

 Evaluating alternatives

 Selecting the best alternative (THE DECISION)

 Implementing the chosen alternative

 Follow-up and evaluation


Decisional Models
 The Classical Model
 managers should have complete and perfect information
 managers should eliminate uncertainty
 managers should evaluate everything logically and rationally

 The Administrative Model


 managers have incomplete and imperfect information
 managers are constrained by bounded rationality
 managers tend to satisfice
Types of decision (1)
Decision-Making Frecquency :
 Programmed Decisions
 Nonprogrammed Decisions

Decision-Making Conditions:
 Decision Making Under Certainty
 Decision Making Under Risk
 Decision Making Under Uncertainty

Decision-Making Time Horizons :


 Strategic Decision
 Tactical Decision
 Operational Decision
Types of decision (2)
Decision-Maker Number:
 Individual Decisions
 Group Decisions
- Interacting Groups (brainstorming)
- Delphi Groups
- Nominal Groups

Decision-Making Level:
 Centralised Decisions
 Decentralised Decisions

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