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 the meaning and nature of organisation. Meaning of Organisation: In common parlance, 'organisation' refers to 'institution'. An educational institution, private agency, Government department or a business firm are organisations. In the context of management, it refers to formal arrangement of work amongst members of the institution with clear identification of authority and [...]