Lecture # 38-39 decision making .pptx

It is the ppt on decision making in buisness economics in which you learn about how to use decision making technique in daily life.

1. Lecture # 38-39 Decision-making and its process Engr Kazim Raza Burdi (B.E IN M.E INM / S.C.M MBA )

2. Examples of program decision making and non program decision making Program decision These are decisions that are made for  routine, repetitive, and well-structured situations . Because the problem is familiar, the decision-making process can be systemized. Nature:   Routine, Repetitive, Structured Problem:   Clear, well-defined, frequent. Goal:   Efficiency, consistency, and speed. Who Makes Them :  Lower and middle management, often even automated systems. Basis :  Established procedures, rules, policies, and habits

3. Examples of program decision making and non program decision making Program decision How they made Procedures:   A series of sequential steps to follow (e.g., the steps to process a customer return). Rules:   Strict, specific regulations that must be followed (e.g., "A customer must provide a receipt for a return."). Policies :  General guidelines that set boundaries for decision making (e.g., "We will handle customer complaints with empathy and a goal of resolution.)

4. Examples of program decision making and non program decision making Program decision Examples Reordering office supplies   when inventory drops to a certain level. Granting a refund   to a customer who has a valid receipt and is within the 30-day window. Scheduling staff   based on predicted customer traffic. Approving a loan   for an applicant who meets all the predefined credit score and income criteria.

5. Examples of program decision making and non program decision making Non-Program decision These are decisions made for  unique, non-routine, and poorly structured situations . These are novel problems for which there is no pre-existing solution. Nature :  Novel, Unstructured, Complex, Strategic Problem :  Vague, unusual, high uncertainty. Goal:   Effectiveness, innovation, and long-term success. Who Makes Them :  Top-level management (CEOs, VPs, senior leaders). Basis:   Judgment, intuition, creativity, and extensive analysis.

6. Examples of program decision making and non program decision making Non-Program decision How they are made There is no set procedure. They require Problem Identification:   Figuring out what the real problem is. Information Gathering:   Extensive research and data collection. Development of Alternatives :  Brainstorming creative potential solutions. Evaluation and Choice :  Carefully weighing the pros and cons of each novel alternative.

7. Examples of program decision making and non program decision making Non-Program decision Examples Entering a new market  (e.g., deciding to expand operations to a new country). Launching a new product   (e.g., Apple deciding to create the first iPhone). Responding to a major PR crisis   (e.g., a product recall or a social media scandal). Acquiring or merging with another company.