This article throws light upon the two types of information systems needed by organisations to make decisions. The types are: 1. Management Information System (MIS) 2. Decision Support System (DSS). Type # 1. Management Information System: To carry out managerial functions for various functional areas (production, marketing etc.) and integrate them with the external environment (government, customers etc.), managers need [...]
This article will help you to learn about the difference between rational and non-rational models of decision-making. Differences between Rational and Non-Rational Models Difference - Rational Models of Decision-Making 1. Rational models are normative. 2. They are theoretical or unrealistic in nature. 3. Rational models follow deterministic approach to problem-solving. 4. They believe there exists the optimum situation for decision-making. [...]
After reading this article you will learn about Decision Making in an Enterprise:- 1. Meaning of Decision Making 2. Process of Decision Making. Meaning of Decision Making: To decide means to 'cut short', 'cut-off' or come to conclusion, A decision is a choice whereby a person forms a conclusion about a situation. A decision represents a course of behaviour or [...]