decision making models
DESCRIPTION
TRANSCRIPT
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BIBLIOGRAPHYBIBLIOGRAPHY• Weihrich & Koontz, Management• Study Material by Prof. Keshav
Sharma.• Peter F. Drucker, Management Tasks,
Responsibilities and Practices.• www.google.co.in• Business Today
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DECISION MAKING DECISION MAKING MODELS MODELS
Economic Man ModelAdministrative ModelImplicit Favourite Model
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Economic ModelEconomic Model
DiscoverSymptom
(1)
Define Problem
(2)
DevelopCriteria
(3)
SelectBest
Alternative(6)
Act Decision
(7)
Dev
Altntivs
(4)
Dev
Outc-
ome
(5)
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ASSUMPTIONS
•Collection Of Information•Storage Of Information•Information Manipulation •Economic Rationality
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EXAMPLES
Introduction Of new Product
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ADMINISTRATIVE MODELADMINISTRATIVE MODEL
Define Problem
(1)
EstablishCriteria
(2)
IdentifyFeasible
Alternative(3)
AppraiseAlternative
(4)
Act(5)
AppraiseEaseOf
AspirationLevel(6)
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GAMESMAN MODELGAMESMAN MODEL
SetGoal(1)
IdentifyImplicitFavorite
(2)
CompareAnd RankRejected
Alternatives(3)
IdentifyConformAction
Candidate(4)
EstablishCriteria
(5)
AnnounceDecision
(6)Act(7)
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CORPORATE EXAMPLESCORPORATE EXAMPLESMicrosoft Ltd
ROB-Internal Application 3400 Financials Analysts
Wipro Technologies Ltd Specialized Tools
Infosys Ltd
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Queries??????Queries??????