decision making eq

Decision Making&Problem Solving : 

Decision Making&Problem Solving

Introduction : 

2 Introduction What is a Problem? The difference between what is and what might or should be What is problem solving? An individual or collaborative process composed of two different skills To analyze a situation accurately and To make a good decision based on that analysis

Slide 3: 

3 Why collaborative problem solving? Problems in the organization & challenges often affect every one in the group When working with more that just a few people solving a problem with a set process becomes more manageable It raises ownership of and commitment to the solution and increases group satisfaction Collaborative Problem Solving

Slide 4: 

4 “ the process of responding to a problem by searching for and selecting a solution or course of action that will create value for organisational stakeholders”. Managerial Decision Making

Slide 5: 

5 Managerial Decision Making Four Steps in DECISION MAKING Process STEP 1 IDENTIFY THE PROBLEM STEP 2 GENERATE ALTERNATIVE SOLUTIONS STEP 4 IMPLEMENT & MONITOR THE CHOSEN SOLUTION STEP 3 EVALUATE & CHOOSE AMONG ALTERNATIVE SOLUTIONS DECISION MAKING PROBLEM SOLVING

Slide 6: 

6 Think! APPLIED THINKING

Slide 7: 

7 DECISION MAKING: Decision Making is about deciding what action to take, it usually involves choice between options. A leader who aspires to excellence obviously has a vested interest in assessing that the best decisions are taken. PROBLEM SOLVING: The Problem Solving is usually a solution, answer or conclusion. The problems are solved in the optimum way and that the creative ideas. CREATIVE THINKING: The outcome of creative thinking, by contrast, is new ideas. The creative thinking get good ideas for tomorrow's business flow freely.

Slide 8: 

8 Programmed vs. Non-programmed Decisions

Slide 9: 

9 Managerial Decision Making - SITUATIONS

Slide 10: 

10 GROUP DECISION MAKING

Inherent Personal Traps : 

11 Inherent Personal Traps Trying too hard to play it safe. Letting fears and biases tilt your thinking and analysis. Getting lost in the minutia can cause trouble. Craving for unanimous approval. Trying to make decisions which are outside your realm of authority.

Inherent System Traps : 

12 Inherent System Traps Willing to begin with too little, inaccurate, or wrong information. Overlook viable alternatives or waste time considering alternatives which have no realistic prospects. Failure to clearly define the results you expect to achieve. Worst of all, failure to reach a decision.

Summary : 

13 Summary Identify the purpose of your decision. What is exactly the problem to be solved? Why it should be solved? Gather information. What factors does the problem involve? Identify the principles to judge the alternatives. What standards and judgement criteria should the solution meet? Brainstorm and list different possible choices. Generate ideas for possible solutions.

Summary : 

14 Summary Evaluate each choice in terms of its consequences. Use your standards and judgment criteria to determine the cons and pros of each alternative. Determine the best alternative. This is much easier after you go through the above preparation steps. Put the decision into action. Transform your decision into specific plan of action steps. Execute your plan. Evaluate the outcome of your decision and action steps. What lessons can be learnt? This is an important step for further development of your decision making skills and judgment.

Slide 15: 

15 Emotional Intelligence DM is strongly linked to decision Maker’s emotions

Slide 16: 

16 THANK YOU