AST-SEPT03-GM-SES-6

AST-SEPT03-GM-SES-6 - General Management...

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General Management MSP-AST (September 2003 Batch) MSP-AST (September 2003 Batch) Fundamentals of Decision  Fundamentals of Decision  Making Making General Management – Pankaj Roy Gupta
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ERP/GM – Pankaj Roy Gupta Understand the role of decision making Understand the conditions under which  individuals make decision Understand the characteristics of routine, adaptive  and innovative decisions. Understand the various models of decision making  systems
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ERP/GM – Pankaj Roy Gupta Decisions and Problems Decision is a choice made from available  alternatives Decision making is the process of  identifying problems and opportunities and  then resolving them.
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ERP/GM – Pankaj Roy Gupta Nature of Decisions Programmed Decision :  A decision made in response  to a situation that has occurred often enough to enable  decision rules to be developed and applied in the future Non-programmed Decision :  A decision made in  response to a situation that is unique, is poorly defined and  largely unstructured and has important consequences for  the organization.
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ERP/GM – Pankaj Roy Gupta Nature of Decisions Certainty, Risk, Uncertainty and Ambiguity Certainty  means that all the information the decision maker needs 
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AST-SEPT03-GM-SES-6 - General Management...

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