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 [...]
This article throws light upon the top four techniques adopted by group members to take decisions. The techniques are: 1. Meetings 2. Brainstorming 3. Nominal Group Technique 4. Delphi Technique. Technique # 1. Meetings: Meeting is gathering of people to discuss a common issue. Members gather to discuss issues mentioned in the agenda and make various decisions. The chairperson controls [...]