![]() ![]() ![]() An important challenge for quality decision is to evaluate to what extend the managers utilize quantitative and qualitative criteria in decision making. This needs the risk analyses to discriminate between alternative. The identifying of the objectives, providing alternatives for solving the problems and the weighing and balancing the values and interest are crucial for the quality of decision making. ![]() The quality and speed of decision making is the key determinant of the success or failure of the organizational management. identifying the decision, (ii) gathering of information and data, (iii) analysing of data and information, (iv) developing of alternatives, (v) evaluating the alternatives, (vi) choosing of the appropriate alternative, and (vii) taking action and reviewing the decision and its consequences. The process of the decision making has a systematic approach, and consists of seven steps, namely (i) appreciating of problem or opportunity i.e. It begins with a definition of the problem or opportunity and ends with the achievement of the objectives. This process includes a group of procedures or steps. Decisions of good quality are effective decisions and enable the organization to maintain competitive position, align internal operations with external environment, and survive threats and challenges, while conversely, because of their magnitude, a single, poor quality decision can lead to the deterioration in the performance of the organization and result in corporate embarrassment, and large economic losses.ĭecision making is normally considered to be a process. Hence, all of the factors affecting decision making need to be considered when deciding on a course of action.ĭecisions, when implemented correctly, are an opportunity to reposition and realign the organization for a better ‘fit’. The importance of the correct decision being made cannot be signified. Failure to make the correct decision can lead to huge financial loss, while on the other hand making the right decision can help to achieve a financial gain. Finding the right data at the right time and analysing it fast enough remains a challenge for the organizations as poor decisions can be very costly.ĭecisions play a fundamental and crucial role within large organisations, and how the managers react can very well have a substantial impact on the performance of the organizations. Fragmented and inaccurate data causes managers to make delayed and flawed decisions costing millions. With decisions valued in their millions, a bad decision can cause damage the organization and the manager’s career which is irreparable. It is also the hardest and the most dangerous. The most important job of any manager is making decisions. Decisions set the tone for the entire organization in terms of image, profits and customer service. ![]() Making decisions is a matter of a huge responsibility for the managers not only for the organization itself, but also for the employees and other stakeholders, as well. Decision making is one of the most important functions of the managers in the organization. In the organization, managers at all the levels in the organization take decisions for the achievement of the organizational objectives. This is only realized when solid, high quality decision making becomes embedded in the entire organization. Organizational management is to realize the significant positive impact of developing true decision competencies. The ability of the organization to take efficient and effective decisions can have a major impact on its sustainability and agility. These days the role of managers includes a large amount of decision making and complex problem solving. It is necessary since the right decision at the right time can help organizations achieve great success whereas a wrong decision can end up costing them dearly. That is why it is very important that organizations adopt best practices and execute good judgment when it comes to making decisions. These decisions set the tone for the entire organization in terms of image, profits and customer service. In the present day environment, organizations are faced with thousands of decisions daily, and how they make these decisions have an enormous impact on their performance level. The decision making role of the management is the ‘heart’ of the executive activities in the organization. It reflects the success and failure of the management and the organization which mainly hinges upon the quality of decisions. It is the basic activity of the management. Decision making, Decision making style, decisions, Organizational decision making, Quality of decisions, Structurd decision, Unstructured decisions ,ĭecision making is a fundamental function of the management. ![]()
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