Decision Making is one of the important function, Justify. Give process & importance of Decision Making.
From India, Mumbai
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From India, Mumbai
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Decision plays a key role in any administration. Timely decision-making is most important. To make a decision, one should have authority. Momentary decisions will also play a vital role. All of these factors depend on hierarchy, management policy, responsibility, authority, etc.
D. Gurumurthy
HR/IR Consultant
From India, Hyderabad
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109D. Gurumurthy
HR/IR Consultant
From India, Hyderabad
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Dear Ippalpalli, What do you do and in which industry? Why are you seeking an answer for the question? If you can make the scenario clear, you will get a suitable answer.
From United Kingdom
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From United Kingdom
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hello sir ! i am a student, doin my masters in labour studies at maharashtra institute of labour studies.... this is just an assignment question given to us... thanks for your response...
From India, Mumbai
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From India, Mumbai
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I thought so, but did not want to assume, as you know wrong assumption leads to "ASS U ME", like my tutor warned us. Rather than seek answers on a plate, I suggest that as students we should post what we think our response would be and then request bloggers to help improve it.
From United Kingdom
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From United Kingdom
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Dear Sanjay,
I have tried to satisfy your answer regarding the importance of decision making.
1. Better Utilization of Resources
Decision making helps to utilize the available resources for achieving the objectives of the organization. The available resources are the 6 Ms: Men, Money, Materials, Machines, Methods, and Markets. The manager has to make correct decisions for all the 6 Ms, resulting in better utilization of these resources.
2. Facing Problems and Challenges
Decision making assists the organization in facing and tackling new problems and challenges. Quick and correct decisions aid in problem-solving and accepting new challenges.
3. Business Growth
Quick and correct decision-making leads to better resource utilization, enabling the organization to confront new problems and challenges, and achieve its objectives. This culminates in rapid business growth. However, wrong, slow, or no decisions can lead to losses and industrial sickness.
4. Achieving Objectives
Rational decisions support the organization in quickly achieving all its objectives, as they are made after analyzing and evaluating all the alternatives.
5. Increases Efficiency
Rational decisions contribute to increased efficiency, defined as the relationship between returns and costs. Higher returns at lower costs indicate efficiency, which is achieved through rational decision-making.
6. Facilitates Innovation
Rational decisions facilitate innovation by fostering the development of new ideas, products, processes, etc., providing the organization with a competitive edge.
7. Motivates Employees
Rational decisions motivate employees to implement them, as they lead to high profits for the organization. This motivation can result in financial and non-financial benefits for the employees.
Furthermore, if you have any queries, you can refer to my assignment. See you in class.
Regards,
Priya
From India, Mumbai
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I have tried to satisfy your answer regarding the importance of decision making.
1. Better Utilization of Resources
Decision making helps to utilize the available resources for achieving the objectives of the organization. The available resources are the 6 Ms: Men, Money, Materials, Machines, Methods, and Markets. The manager has to make correct decisions for all the 6 Ms, resulting in better utilization of these resources.
2. Facing Problems and Challenges
Decision making assists the organization in facing and tackling new problems and challenges. Quick and correct decisions aid in problem-solving and accepting new challenges.
3. Business Growth
Quick and correct decision-making leads to better resource utilization, enabling the organization to confront new problems and challenges, and achieve its objectives. This culminates in rapid business growth. However, wrong, slow, or no decisions can lead to losses and industrial sickness.
4. Achieving Objectives
Rational decisions support the organization in quickly achieving all its objectives, as they are made after analyzing and evaluating all the alternatives.
5. Increases Efficiency
Rational decisions contribute to increased efficiency, defined as the relationship between returns and costs. Higher returns at lower costs indicate efficiency, which is achieved through rational decision-making.
6. Facilitates Innovation
Rational decisions facilitate innovation by fostering the development of new ideas, products, processes, etc., providing the organization with a competitive edge.
7. Motivates Employees
Rational decisions motivate employees to implement them, as they lead to high profits for the organization. This motivation can result in financial and non-financial benefits for the employees.
Furthermore, if you have any queries, you can refer to my assignment. See you in class.
Regards,
Priya
From India, Mumbai
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Thank you so much AK Arora sir.i have already gone through this link its very nice book.and quite interesting to study Hope it will beneficial for us as per as exam point of view.Thanks once again
From India, Mumbai
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From India, Mumbai
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My advice to students is similar to Aussijohn's, who says something like "Search first and then seek..." There is a good website where one can get some answers. That site is [url=http://www.businessballs.com/problemsolving.htm]decision-making and problem-solving techniques, skills, and methods.
I wonder where Ipplaplli is after raising the question?
From United Kingdom
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I wonder where Ipplaplli is after raising the question?
From United Kingdom
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