1. BY Muhammad Suleman MBA MIT BSC (COMPUTER)

2.  What is decision Making  Why decision Making  Conditions under which decision are made  What is Rational Decision Making  Process of Rational Decision Making  Programmed and Non Programmed Decision  Creativity and Innovation  What is brainstorming  Who are creative Managers

3.  A decision is a choice made from two or more alternatives.  Decision making is the process through which managers identify organizational problems and attempt to resolve them  Decision making is the study of identifying and choosing alternatives based on the values and preferences of the decision maker.  Making a decision implies that there are alternative choices to be considered, and in such a case we want not only to identify as many of these alternatives as possible but to choose the best one.

4. TAKE OUT UR PAGES AND WRITE DOWN UR NAMES IN THE TOP OF THE PAGE TIME IS 30 MINUTES Q1-WRITE A BRIEF NOTE ON BUSINESS PORTFOLIO MATRIX AND DIFFERENTIATE BETWEEN RELATIVE MARKET SHARE AND MARKET GROWTH RATE Q-2- MENTION SOME IMPORTANCE OF STRATEGIC MANAGEMENT. YOUR TIME STARTS NOW:6:00 AM`

5.  Decision making is the process of sufficiently reducing uncertainty and doubt about alternatives.  The above definition stresses the information gathering function of decision making.  The more you will collect information about the alternatives, the more you will make the best decision.  The decision is the outcome of the information.

6. There are several basic kinds of decisions:  Decisions whether  Decisions which  Contingent decisions

7. Decisions whether  This is the yes/no, either/or decision that must be made before we proceed with the selection of an alternative.  Should I buy a new TV?  Should I travel this summer?

8. Decisions which:  These decisions involve a choice of one or more alternatives from among a set of possibilities. Contingent decisions:  These are decisions that have been made but put on hold until some condition is met

9.  Decision making makes it possible to adopt the best course of action in carrying out a given task. When there are different ways of performing a task, it becomes necessary to find out the best way and that is what decision making is all about  Decision-making helps to find a solution to any problem in a work place. For example, if an organization faces the problem of low productivity, such a problem cannot be ignored and it becomes necessary to find a remedy. To find a remedy, the actual cause of the problem must be identified after which corrective action may be taken. If negative employee attitude is found to be the root cause of low productivity, the management may have to decide on the right course of action to be adopted to change such a negative attitude

10.  Decision-making helps to identify the best course of action in each given situation and thereby promotes efficiency. The course of action finally selected should be acceptable to both the workers and the management. Satisfied workers put in their best efforts and this result in higher output. Higher output satisfies the management and it may come forward to share the gain with the workers. Thus, there is improvement in the overall efficiency of the organization.  The conflicts in an organization are resolved through decisions

11. The conditions are as follow:  Certainty  Risk  Uncertainty.

12. Certainty  in this case you are sure or you expect that every thing will be done according to the plan. Risk  Here we attach some weights to the alternatives Uncertainty.  In this case we make some decisions but we are not sure that it will work accordingly or not.

13.  The Rational Decision Making Model is a process for making logically sound decisions.  The process is one that is logical and follows the orderly path from problem identification through solution  This method would evidently not be used for every decision within the everyday operations of an organization  However, the method would be applicable to major efforts within the problem solving and solution finding area such as team efforts

14. The process is as follow:  Define or Identify the problem  Generate Alternatives  Evaluate and Choose an alternative  Implement and monitor

15. Define or Identify the problem  A problem is defined as a gap between an existing and a desired state of affairs.  Here in first step we go for getting main problem that is why the things are not working properly.  E.g. if you are making some products for customers, if you are not getting revenue against it so go and find out what is the problem either there is some problem in price, quality durability etc….

16. Generate Alternatives:  In this step we go for collecting the information.  The question arises that how will we collect the information so for that we have a technique that is Brainstorming.  Brainstorming is the process of gathering the ideas in order to solve the problems.  The principle of brainstorming is not to criticize the ideas of any person.  If you are going to generate alternatives so generate as many as you can, because it will help you to make a best decision.

17. Evaluate and Choose an alternative  In this step we evaluate the alternatives that is either the alternatives are feasible or not.  So here we provide some weights to the alternatives.  Or here we go for finding the merits and demerits of the alternatives.

18. Evaluate and Choose an alternative After evaluating the alternatives we will choose the best one. So alternatives that has been chosed must be ethically sound.

19. Implement and monitor After selecting your alternative, bring it into the practical sense that is implement it. If you have made a decision and not implementing so your decision is meaningless. In order to find out the effect of decision it is very much necessary to implement it. During or after implementing decision you can easily monitor the decision, if you need some change in your decision so you will make and so on……

20. Programmed Decisions:  are those made in routine, repetitive, well structured situations through the use of predetermined decision rules.  Computers are an ideal tool for dealing with several kinds of complex programmed decisions  Most of the decisions made by first-line managers and many by middle managers are Programmed decisions.

21. Non Programmed Decision:  are those for which predetermined decision rules are impractical because the situations are novel and/or ill-structured.