principles of management
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Related to business management term. Why;How;What to do???? Various question answer on managementTRANSCRIPT
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Planning How Help in Decision Making
Group MembersNAME STUDENT ID
Fahim Hasanul Islam 1503Mukhter Yead Ansary 2601
Md. Mustafizur Rahman 1493S.M. Hasib Reza 1480
Tithi Dutta 2311Md. Mostafizur Rahman 2329
Monira Ahmed Ami 2313Homayra Rahman 2307
Tasnim Sultana Juthy 2308Fatema Afroz 1475
What is Planning?
(Author and
founder of the
Strategic Planning Society)
– John Argenti
A plan is a list of
actions arranged
in sequence is thought
likely to achieve
an objective.
Selecting missions and objectives as well as the
actions to achieve goal, which requires decision making, that is, choosing a course of action
amongst all alternatives.
Steps in planning: * Being Aware of Opportunities *Establishing Objectives * Developing premises * Determining alternative Courses *Evaluating alternative courses * Selecting a Course * Formulating Derivative Plans * Quantifying plans by Budgeting
What is Decision Making?
"No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will
be. . ."
- Isaac Asimov
The process of examining your possible options, comparing them, and choosing a course of
action
Relationship between Planning and Decision making
Planning for Decision Making
While decision making without planning is fairly common, it is often not pretty. The terms used to describe it--crisis management, putting out fires, seat-of-the-pants governing--all reveal the inelegance and awkwardness of this way of life. Planning allows decisions to be made in a much more comfortable and intelligent way. Planning even makes decisions easier by providing guidelines and goals for the decision. We might even say that planning is a type of decision simplification technique.
Four major benefits to planning for Decision making:
Planning allows the establishment of
independent goals
Planning provides a standard of measurement
Planning converts values to action
Planning allows limited resources to be committed
in an orderly way
Decision Levels
StrategicTactical
Operational
This is a list of easy, practical techniques
that can be applied to simple or complex
decisions. They share the assumption that
circumspect analysis is the key to making good
decisions. Many decisions are made
with too little information and too
little thought, in a non-deliberate way.
Note how these techniques
provide a visible, structured, orderly
set of factors involved in a
decision, so that the decision maker can consider them
in a thoughtful and coherent way.
Six C’s of Decision making
1. Construct.
2. Compile.
3. Collect.
4. Compare.
5. Consider.
6. Commit
Six C’s of Decision making(Continued)
Construct a clear picture of precisely what must be decided.
Compile a list of requirements that must be met.
Collect information on alternatives that meet the requirements.
Compare alternatives that meet the requirements.
Consider the "what might go wrong" factor with each alternative.
Commit to a decision and follow through with it.
Decision Making StepsThere are many decision-making models. Here is another that is not nearly as insightful as the one above, but it is one that many of the students will be familiar with.
SWOT Analysis
How play role in Decision making?
Strength Attributes of the organization that are helpful to achieving the objective.
Weaknesses Attributes of the organization that are harmful to achieving the objective.
Opportunities External conditions that are helpful to achieving the objective.
Threats External conditions that are harmful to achieving the objective.
Any Questions?
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