In this article we will discuss about:- 1. Stages of Decision Making 2. Types of Decisions 3. Process 4. Theories 5. Organisation. Contents: Stages of Decision Making Types of Decisions Decision Making Process Theories of Decision Making Organisation of Decision Making 1. Stages of Decision Making: In an important sense, management is synonymous with decision making. About the stages in [...]
In this article we will discuss about the concepts of heuristic model and heuristic programming used in managerial decision making. Heuristic Model: The term 'heuristic' means serving to discover or to stimulate investigation, in a literary sense. In its technical sense, heuristic is frequently associated with the simulation of human problem-solving techniques by means of computers. Heuristic model refers to [...]
Several techniques have been developed to make groups more effective at generating innovative and useful ideas. The groups are:- 1. Brainstorming 2. Nominal Group Technique (NGT) 3. Delphi Technique (DT). Technique # 1. Brainstorming: Brainstorming may be defined as "a conference technique (by the formation of a group) of solving specific problems, gathering information, and stimulating creative thinking. The basic [...]