Managerial Skill PPT.pptx, Managerial Skill

Managerial Skill PPT.pptx, Managerial Skill,

1. Presented By:- Aabhash Narayan Albela MBA 2 nd Sem MBA-209 Managerial Skills Decision Making Submitted To:- Proff . Jyotsana Khandelwal

2. Introduction to Decision Making Decision-making is a crucial skill that allows us to navigate the complexities of life and work. It involves analyzing information, weighing options, and choosing the best course of action to achieve our goals.

3. Types of Decisions Strategic Decisions Operational Decisions Tactical Decisions These are high-level decisions that shape the overall direction of an organization or individual. These are day-to-day decisions that help implement and execute strategic plans. These are intermediate-level decisions that bridge the gap between strategic and operational decisions.

4. 1. Personal Biases Our beliefs, experiences, and emotions can unconsciously sway our decision-making process. 2. Available Information The quality and quantity of information we have access to can affect the decisions we make. 3. Time Constraints The pressure of tight deadlines can lead to rushed, suboptimal decisions. 4. Organizational Culture The values, norms, and expectations of the environment can shape the decision-making process. Factors Influencing Decision Making

5. 1. Identify the Problem Clearly define the issue or challenge that needs to be addressed. 2. Gather Information Collect relevant data and insights to support the decision-making process. 3. Generate Alternatives Explore multiple options and potential solutions to the problem. 4. Evaluate and Select Carefully analyze the pros and cons of each alternative and choose the best course of action. 4. Implement and Monitor Put the decision into action and continuously evaluate its effectiveness. The Decision-Making Process

6. Data Analysis Using statistical methods and visualizations to inform decision-making. Decision Matrices Evaluating options based on weighted criteria to identify the best choice. Scenario Planning Exploring multiple potential futures and their implications for decision-making. Optimization Models Applying mathematical techniques to find the best solution given constraints. Quantitative Decision-Making Tools

7. Stakeholder Interests . Considering the needs and concerns of all parties affected by a decision. Long-Term Impacts . Anticipating the potential consequences of a decision beyond the immediate situation. Moral Principles Aligning decisions with core ethical values like fairness, transparency, and accountability. Regulatory Compliance Ensuring decisions adhere to relevant laws, regulations, and industry standards. Ethical Considerations in Decision Making

8. Gather Diverse Perspectives Seek input from people with different backgrounds and experiences. Prioritize Critical Thinking Analyze information objectively and consider multiple viewpoints. Embrace Uncertainty Acknowledge that some decisions are made with incomplete information. Learn from Mistakes Reflect on past decisions and use them to improve future choices. Effective Decision-Making Strategies

9. Conclusion and Key Takeaways Effective decision-making is A crucial skill that can be developed through practice, self-awareness, and the application of various tools and strategies. By navigating the complexities of decision-making, we can make more informed choices and achieve better outcomes.

10. Thank You