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Lesson 05 42 Slides
Decision Making
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1.
2.
3.
4.
Premising.
Identifying alternatives.
Evaluating alternatives in terms of the goal sought.
Choosing an alternative, that is, making a decision.
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1. Understanding of alternatives;
2. Information and ability to analyse and evaluate the
alternatives;
3. Desire to come to the best solution by selecting an
alternative that most effectively satisfies goal
achievement. #
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Aldous Huxley:
Experience is not what happens to
you; experience is what you do with
what happens to you.
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Organisational
Levels
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Nature of
Problems
Non-programmed Decisions
Programmed Decisions
Unstructured
Structured
Nature of Decision
Making
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Risk Analysis
Decision Trees go / no-go
Preference Theory
Attitudes towards Risk #
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Chance
events
Permanent
tooling =
$2,000,000
Temporary
tooling =
$100,000
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1.0
Personal
curve
.80
.60
Risk averters
curve
Statistical
probability curve
.40
.20
Gamblers
curve
Low
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Statistical Probabilities
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Size of Commitment
Planning - Decision making - Koontz&Weihrich Ch.6
and Stoner Freeman & Gilbert-ch 9-Lesson 05
High
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Unconscious scanning
Intuition
Insight
Logical formulation or verification #
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Brain Storming:
Creativity can be taught. Creative
thoughts are results of extensive efforts,
individual or that of groups.
Brainstorming is a technique for
intuitive thinking in a group. In
brainstorming multiplication of ideas is
sought. The rules are as follows:
Brain Storming:
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Group discussion
Brainstorming
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