WELCOME TO

NIRANAJANA MAJITHIA COLLEGE

OF COMMERCE

PRESENTERS

KANCHAN SINGH (36) HIRAJ LALJANI (18)

JAYESH TAVAR (47)

MUNEEB SAHANI (27)

CHANDRESH PANCHAL (20)

PAWAN MISHRA (22)

DEFINITION DECISION MAKING : The process of examining

your possibilities and options, comparing them and choosing a course of action.

DECISION MAKING STAGES

Orientation Stage Conflict Stage Emergence Stage Reinforcement Stage

DECISION MAKING models

Rational Model Social Model Bounded Rationality Model Judgement Heuristics and Biases

DECISION

Decision is partly divided in two parts.

1. Programmed2. Non Programmed

Types of Decisions

- Programmed decisions. Involve routine problems that arise regularly and

can be addressed through standard responses.- Non Programmed decisions. Involve non-routine problems that require

solutions specifically tailored to the situation at hand.

Six C’s of DECISION MAKING

o Constructo Compileo Collecto Compareo Considero Commit

CONSTRUCT :- Construct a clear picture of precisely what must be decided.

COMPILE :- Compile a list of requirements that must be met.

COLLECT :- Collect information on alternatives that meet the requirements.

COMPARE :- Compare alternatives that meet the requirements.

CONSIDER :- Consider the “what might go wrong” factor with each alternative.

COMMIT :- Commit to a decision and follow through with it.

THANK YOU