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 [...]
This article throws light upon the eight important types of plans. The types are: 1. Objectives 2. Policies 3. Rules 4. Procedure 5. Programme 6. Schedules 7. Budget 8. Forecasting. Plans: Type # 1. Objectives: Objectives are plans for the future that will serve to provide direction for subsequent activity. We have a hierarchy of objectives. Primary or basic objectives [...]
This article provides an overview on Management Information System (MIS). Information System: It is a system which provides each manager in the organisation with the information he needs in order to take decisions, plan and control within his area of responsibility. Information system is an organised way of sending, receiving and recording messages. It includes both formal flow of information [...]