Management-Decision-Making

INTRODUCTION
Much of what managers and supervisors do is solve problems and make decisions. New managers and supervisors, in particular, often make solve problems and decisions by reacting to them. They are "under the gun", stressed and very short for time. Consequently, when they encounter a new problem or decision they must make, they react with a decision that seemed to work before. It's easy with this approach to get stuck in a circle of solving the same problem over and over again. Therefore, as a new manager or supervisor, get used to an organized approach to problem solving and decision making. Not all problems can be solved and decisions made by the following, rather rational approach. However, the following basic guidelines will get you started.

I-

What is decision making?
1) 2) Some Definitions Kinds of Decisions a- Decisions whether b- Decisions which c- Contingent decisions

3)

The Decision Environment
Approaches to Decision Making a- Authoritarian b- Group

4)

5)

Some Decision Making Strategies a- Optimizing b- Satisficing c- Maximax d- Maximin

II-

Decision Making Procedure and techniques

1) Basic

guidelines

to

decision

making

and

problem

solving 2) Decision making techniques a- Pareto Analysis b- Paired Comparison Analysis c- Grid Analysis d- PMI e- Force Field Analysis f- Six Thinking Hats g- Starbursting h- Stepladder Technique i- Cost/Benefit Analysis j- Decision Trees

III-

Risking
1) 2) 3) 4) General Comments on Risk Taking The Orthodox Theory of Risk Evaluation Advice on Risking Risk Management Strategies

I-

What is decision making?
1)Some Definitions

A good place to start is with some standard definitions of decision making. 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