Decision making

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Types of decision : 

Types of decision

Types of decision : 

Types of decision Presented by- DHEERAJ BHARDWAJ MASMS, jaipur

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Irreversible Those type of decision, which if made once cannot unmade.

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Rversible Those type of decision, which can changed completely, either before, during or after the agreed action begins.

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Experimental Those type of decision, which are not final until the first results appear and prove themselves to be satisfactory. It require positive feedback before one can decide on a course of action.

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Trial In this type of decisions, knowledge is derived out of past mistakes. A certain course of action is selected and is tried out, if the results are positive, the action is carried further, if the result appear negative, another course is adopted.

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Conditional Such type of decisions can be altered if certain foreseen circumstances arise. It is an either / or kind of decision with all options kept open.

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Delayed decision Such type of decisions are put on hold till the decision makers feel that the time is right.

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Types of decision making

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There are basically two types of decision making. Objective or logical or quantitative Subjective

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Objective or logical or quantitative objective decisions apply a numerical or logical method for making a decision. This type decision making using numbers. The goal is to a make any decision making as objective as possible.

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Subjective Decisions The key to making a good subjective decision is to make your subjective judgements on very small increments of the total decision.

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An example of this is coming to a fork in the road while driving. If there are signs that communicate where each fork is going, you can make an objective decision. If there are no signs and you have no knowledge of where the forks go, then you must make a subjective decision.

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Steps of Decision making Model

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1. State the Problem – The most important steps in the decision making model is to identifying the problem. If the problem is stated incorrectly or unclearly then your decision will be wrong.

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2. Identify Alternatives – Ensure you have as many good alternatives as possible. 3. Evaluate the Alternatives – This is where the analysis begins. You must have some logical approach to rank the alternatives.

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4. Make a decision – You have evaluated your alternatives. Two or more of your high ranked alternatives may be very close in the evaluations. You should eliminate all of the alternatives that were low ranked.

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5. Implement decision – A decision has no value unless you implement it.