Decisions can be classified in the following ways: 1. Major and Minor Decisions 2. Routine and Strategic Decisions 3. Policy and Operating Decisions 4. Programmed and Un-Programmed Decisions. 5. Departmental and Non-Economic Decisions 6. Organisational and Personal Decisions. Type # 1. Major and Minor Decisions: These can be categorised on the basis of their intensity. For example, purchase of a [...]
After reading this article you will learn about the decisions taken under certainty and uncertainty. Decision under Certainty: The decisions may be taken when the problems are under certainty i.e., where a complete knowledge about the nature of future conditions is known. Let us take a simple example. It is not uncommon for constructing firms to set up service facilities [...]
After reading this article you will learn about:- 1. Meaning of Creativity 2. Components of Creativity 3. Process 4. Climate. Meaning of Creativity: Creativity means creating something new. In the context of business, it means creation of new ideas, new method or new product/service. Creativity is the "cognitive process of developing an idea, concept, commodity, or discovery that is viewed [...]