What is Individual and Group Decision? In simple language, an individual decision is one that is made by a single person whereas a group decision is one made by more than two people. Based on the participation of people in the decision-making process the types of decisions are two individual and group decisions. Let’s discuss…
What is Organizational and Personal Decision? An organizational decision is when a manager makes any decision on behalf of the organization. Whereas, a personal decision is when a manager takes one that does not affect the company’s performance. Let’s discuss individually, the organizational and personal decisions. What is Organizational Decision? An organizational decision can be…
What is Programmed and Non Programmed Decision? A programmed and non-programmed decision are two types of decisions that are categorized on the basis of their frequency of reoccurrence. What is Programmed Decision? A programmed decision is a decision that has a high degree of occurrence in the future. It is repetitive and structured in nature….
Types of Decision (Decision Making) Decision-making is a crucial component of management. It is an intellectual art to choose the right option out of many. In organizations, managers have to make several decisions as to needs and situations. The types of decisions or decision-making can be many some major decision types found in the organization…
When we wake up we make a decision as to whether we wake up and chase our dreams or again sleep and go on the dreams. In our personal life and professional life, we make several decisions in different situations. Let’s discuss how we can make rational decisions in our professional life. What is Decision…
Characteristics of Decision Making Decision-making is the rational process in which managers choose the right option out of many which is supportive of organizational goals achievement. The main features/characteristics of decision-making are mentioned below: Goal Oriented Decision-making is a goal-oriented component of management. During the course of the organization, managers have to make decisions considering…
Decision-making is an indispensable component of management function. Every organization’s success is a determinant of decisions made by the managers and how the decisions are implemented. Making the right decision is as important as setting the right plan. Let’s discuss what it is and how you can make the right decisions. What is Decision Making?…
Methods of Environmental Scanning Environmental scanning is the in-depth analysis of business environment factors that have a direct or indirect, immediate or future impact on an organization’s performance. Below are the common methods/techniques of environmental scanning you can adapt to scan the environment. Extrapolation Method The extrapolation method of scanning the environment is the method…
Techniques and Tools For Planning Organizations can use various tools and techniques for the effectiveness and efficiency of planning. It would help if you understood qualitative and quantitative planning tools that support formulation and implementation. Managers should understand the advantages, disadvantages, or limitations of these tools and choose one that helps to select a suitable…