In this session, we will discuss the decision-making quotes and their meaning, definition, characteristics, types, and importance.
Definition of Decision making of quotes
In this session, we will discuss all the definitions of decision-making quotes. So that Decision making is the selecting course of action from among alternatives. Decision-making is an act of selecting or choice of action from two or more alternatives for the purpose of achieving the desired result. So that decision-making is an important function of every manager. Under planning like that what is to be done, how it is to be done when it is to be done, and who is to do it all are considered. Implementation of managerial function Decision making is essential in all the managerial functions such as planning, organization, directing, controlling, staffing all functions can be conducted. So that decision-making is an important element to implement the managerial function. If you want to get more information about the Definition of SWOT Analysis? Meaning, Benefits, and Limitations then click here, I am sure you are definitely satisfied here
According to Koontz and Weihrich:- Decision making is the selection of a course of action from among alternatives.
Rick Griffin defines decision-making quotes:- Decision making is the act of choosing one alternative from among a set of alternatives.
D. E. Mcfarland defines decision making:- A decision is an act of choice wherein an executive forms a conclusion about what must be done in a given situation. A decision represents behavior chosen from a number of alternatives.
In the session on decision making, we will also discuss the characteristics of decision making
The characteristics of decision making can be dedicated to the following points.
- Dynamic process
- Pervasive function
- Continuous process
Decision-making is oriented toward it is achieving organizational goals. In the organization, decision-making takes the initial state to desired goal state. So that managers can make decisions to achieve any kind of organizational goals.
Decision-making is a dynamic process rather than as one state entity. It takes place within the changing environment. like that changing technologies increase complexity in decision making. for example, A manager may hire that people based on merit regularly and also pick up candidates recommended by an influential party at the time. The situation requirement to depending on managers to take suitable decisions using direction and judgment. (decision-making quotes). If you want to get more information about the Definition of Team Management | Importance, and its Types then click here, I am sure you are definitely satisfied here.
Decision-making is pervasive at all levels of management and all function of management. like that planning is essentially decision making, staffing, directing, organizing, and controlling all functions of management are required for decision making.
Decision-making is not a one-time activity in the manager’s life. it is the continuous activity of any organization manager at any level of management. Any organization manager will be making series of decisions every day. The decision should be well-timed.
In any organization or life of a human being, there is no need for decision-making without problems. So decision-making is the process of solving problems. it is a rational process. It involves interdisciplinary input. it requires information. (decision-making quotes)
Decision-making involves choice. it is selecting the best course of action from among the available alternatives. The decision-maker has freedom of choice. The choice is based on logical facts and the judgment of the decision-maker. It balances the conflicting interest of stakeholders, information is the heart of decision-making. Authority needs to make a choice.
Decisions involve short-term and long-term commitment. They generally commit resources over a period of time. Decision-making should be communicated to those who will implement them to ensure commitment. If you want to get more information about the What is Business definition, features, types, importance then click here, I am sure you are definitely satisfied here.
In the session of the decision-making quotes, we will also discuss the types of decision making
The types of decision-making can be dedicated by the following points.
Types of decision making
- Programmed and non-programmed decision.
- Tactical and Strategic Decisions
- Organizational and personal decision.
- Individual and group decision.
- Policy and Operating Decisions
- Long-term, departmental, and non-economic decision.
Programmed and non-programmed decisions
Here we will be discussing programmed and non-programmed decisions. So, let’s discuss firstly programmed decisions. According to programmed decisions. The programmed decision is that type of a decision, which is represented in nature.
These types of decisions are dealt with by following a specific standard procedure. The lower level of management, who has been taken these types of decisions in any business organization. Also, these types of decisions are taken based on the existing rule, policies, or procedures of the business organization.
For example, sanctioning of different types of leave, increments in salary, purchasing spare parts etc.
According to non-programmed, which one is the second decision. Non-programmed is those type of a decision, which arises out of unstructured problems, i.e., these types of decision are not routine or daily occurrences. So, there is no standard procedure or process to deal with such issues.
In the business organization, these types of decisions are important, so these types of decisions are taken only by the top level of management. For example, the opening of a new branch of the organization or a large number of employees absenting from the organization or introducing a new product in the market, etc.
Tactical and Strategic Decisions
Here we will be discussing Tactical and Strategic decisions. So, let’s discuss firstly Tactical decisions. According to the tactical decision, Tactical decisions are those types of decisions, which are taken by the organizational manager over and over again when adhering to certain established policies, rules, and procedures.
They are of repetitive nature and related to general functioning. So, these types of decisions are taken by the lower level of management in any business organization.
According to Strategic decision which one is the second decision. Strategic decisions are those types of decisions, which one is the most difficult. So that, these types of decisions are taken by the top level of management in any business organization.
They influence the future of the business and involve the entire organization. So here are define the examples of strategic decisions, Decisions pertaining to the objective of the business, capital expenditure, plant layout, production, etc.
Organizational decisions and personal decisions
According to organizational decisions. Organizational decisions are those types of decisions, which the organizational manager has to takes in their official capacity and which can be delegated to others.
For example, transferring an employee, decisions regarding introducing a new incentive system, reallocation or redeployment of employees, etc. are taken by managers to achieve certain objectives.
According to personal decisions. The personal decision, which one is the second decision. A personal decision is that type of a decision, which the organizational manager has to take in their individual capacity but not as a member of the organization.
For example, through personal in nature, the manager’s decision to quit the organization may create some problems for the organization.
Individual decision and group decision
Here we will be discussing two types of decisions which one is the individuals’ decision and the second one is the group decision. So according to the individuals’ decision.
Individuals’ decision is those types of decision, which one is taken by a single individual in an official capacity in any business organization. For example, routine type decisions are taken by individuals within the broad policy framework of the organization.
According to the group decision. Group decisions are those, which are taken by a group or a collective of the firm’s employees and management. Generally, very important and pertinent matters for the organization are referred to this committee. For example, decisions taken by the board of directors are group decisions.
Policy and Operating Decisions
Here we will be discussing two types of decisions which one is the policy decision and the second one is the operating decision. So according to the policy decision. The policy decision is those type of a decision, which is the vital importance character display in the business organization. These types of decisions are taken by the top level of management in any business organization.
But finally, we will be talking about the operating decision. then Operating decision is those types of decisions, which is necessary to put the policy decisions into action. These types of decisions are taken by the lower level of management in any business organization.
For example, in any business organization, the bonus issue is a policy matter which is to be decided by the top level of management, and the calculation of the bonus is an operating decision, which is taken at the lower levels of management to execute the policy decision.
Long-term, departmental, and non-economic decision
Long-term decisions are those types of decisions, which are taken in the business organization for a longer time period and the risk involves is high.
Departmental decisions are those types of decisions, which are taken by the head of the department, related to a particular department.
The non-economic decision is those type of a decision, which is related to factors such as technical values, moral behavior, etc.
In the session on decision-making quotes, we will also discuss the importance of decision-making.
The importance of decision-making can be dedicated to the following points.
- Implementation of managerial function
- Pervasiveness of decision-making
- Selecting the best alternatives
- Evaluation of managerial performance
- Successful; operation of business
- Helpful in planning and policies
Implementation of managerial function
In any business organization, decision-making is the most important character displaying. Because the managerial function such as planning, organizing, directing, controlling, staffing is doesn’t work smoothly when the decision doesn’t have taken. On the other hand, in the business organization, when the employee does, s/he does the work through a decision-making function. that’s why decision-making is clearly defined as an important element to implement the managerial function.
Pervasiveness of decision-making
The Decision-making process is one of the Pervasiveness. Because in any business organization the decision making is most important as whole managerial activities and their function such as planning, organizing, motivating, directing, and controlling and also the areas of managerial function such as production, marketing, finance, personnel, and research and development. It must be taken by all staff of the business organization.
Selecting the best alternatives
One thing we all clearly know any business organization has to face multiple problems, but there are multiple solutions to solve the problem of the business organization. But we don’t clarify which alternatives are the best. So, decision-making is those types of processes, which one is the best alternative among various alternatives by analyzing them one by one using various financial, statistical, and accounting tools/techniques. Proper decision-making enables the decision-maker to properly analyze all aspects and choose the most appropriate action.
Evaluation of managerial performance
In the business organization, the role of decision-making is not only important for selecting the best alternative, but it is also important for evaluating the performance of a manager. When the organizational manager has been taken a decision that is correct then it is clearly defined that the manager is qualified, able and efficient. But when the organizational manager has been taken a decision that is wrong then it is clearly defined that the manager is disqualified. So, this way of decision-making helps in evaluating managerial performance.
Successful; operation of the business
Decision-making is one of the important character displays for the successful operation of the business. In course of operation, many problems may arise in different situations and times. So, correct decisions help in the successful operation of the business.
Helpful in planning and policies
Plan and policy are also important for the business organization. But plans and policies are not possible to establish without decision-making. In the process of making plans, appropriate decisions must be made from so many alternatives. Therefore, decision-making is an important process, which is helpful in planning.
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