The elements of the decision situation

-

Wilson and Alexis isolate several basic elements in the decision situation.

There are five elements: such as-
  • 1.The decision markers
  • 2.Goals to be served
  • 3.Relevant alternatives
  • 4.Ordering of alternatives
  • 5.Choice of alternatives

These elements are discussed in the below:

1. The Decision markers: 

Decision markers are the first elements of the decision
situation. According to 10 Ernest Dale weak decision-makers usually have one of four
orientations—

a. Receptive
b. Exploitative
c. Hoarding
d. Marketing

a. Receptive: 

Decision makers who have a receptive orientation believe that the source of all good is outside themselves and therefore they rely heavily on suggestions from other organization members.

b. Exploitative: 

Decision makers With an exploitative orientation also believe that the source of all good is outside themselves and they are willing to steal ideas as necessary in order to make good decisions.

c. Hoarding: 

the hoarding orientation is characterized by the desire to preserve
the unchangeable as much as possible

d. Marketing: 

Marketing oriented decisions takers look upon itself as
commodities that are only as valuable as the decisions they make.

2. Goals to be served: 
The goals that decision-makers seek to attain are
another element of the decision situation. In the case of managers, these goals should often be organizational objectives.

3. Relevant Alternatives: 
Relevant alternatives are those alternatives that are considered feasible for solving an existing problem and for implementation.

4. Ordering of Alternative: 
The decision situation requires a process or mechanism for ranking alternatives from most desirable to least desirable. The process can be subjective, objective, or some combination of the two.

5. Choice of Alternatives: 
The last element of the decision situation is the actual choice between available alternatives. This choice establishes the decision.
Typically managers choose the alternative that maximizes long-term return for the organization.

Comments

Post a Comment

Popular posts from this blog

Advantages of motivation in management

-
Definition of motivation Motivation is the inner state that causes an individual to behave in a way that ensures the accomplishment of some goal. In other words, motivation explains why people act as they do. Motivation may be defined as the process at stimulating some to adopt a desired course of action. In brief sense motivation is the drive to achieve a goal. In details sense to attain organizational goal, motivation is a process of making best use of the organization's employees and it is a system to encourage, inspire and to motive the organizational activities. Borolson and Steiner described that, "motivation is an inner state that energizes. activates, or moves and directs or channels behavior toward goals". M.J. Gannon described that "Motivation basically means an individual needs desires and concepts that cause him or her to act in a particular manned'. Heinz Weihrich and Harrold Koontz describe that "Motivation is a general term applying t...
Read more

BENEFITS OF BANK RECONCILIATION

-
Bank reconciliations are an important accounting procedure, performed by companies of all sizes, to match the cash balance of the bank with the balance found on the company's financial records. Reconciliations can detect and prevent intentional fraud, along with errors by bank tellers, accountants, employees, and management. Although bank reconciliation is typically a month-end procedure, companies with smaller cash resources might perform it daily. Detects fraud Because bank reconciliations match a company's disbursed checks with the cleared checks on the company's bank statement, a careful review based on appropriate controls and procedures helps to reveal fraudulent activities. These could include payments for illegitimate business purposes, payments to unauthorized employees or unauthorized vendors, and amended check amounts and details. Prevents overdraft The lag time between cash outflows to vendors and employees - and payments coming in from clients and customers - c...
Read more

The Importance of Impact Shorts in Snowboarding

-
  The Importance of Impact Shorts in Snowboarding Impact shorts, also known as padded shorts or crash pants, are specifically designed to absorb shocks and reduce the severity of injuries during falls. They are typically worn under snowboarding pants and feature padding in key areas prone to impact. Benefits of Wearing Impact Shorts Protection Against Injuries : They provide cushioning to vulnerable areas, minimizing the risk of bruises, fractures, and other injuries. Facebook +9 snowboardingdays.com +9 snowboardingforum.com +9 Enhanced Confidence : Knowing you're protected allows you to push your limits and try new techniques without excessive fear of injury. Comfort : Modern impact shorts are designed to be lightweight and breathable, ensuring comfort during long sessions on the slopes. Versatility : Suitable for various snowboarding styles, from freestyle to alpine, making them a valuable addition to any snowboarder's gear. Key Features to Consider When Cho...
Read more