This article throws light upon the seven different types of decision taken in an organization. The types are: 1. Programmed and Non-Programmed Decisions 2. Major and Minor Decisions 3. Routine and Strategic Decisions 4. Policy and Operating Decisions 5. Personal and Organizational Decisions 6. Long Term Departmental and Non-Economic Decisions 7. Individual and Group Decisions. Type # 1. Programmed and [...]
After reading this article you will learn about:- 1. Meaning of Decision Making 2. Characteristics of Decision Making 3. Process 4. Factors Influencing 5. Rationality. Meaning of Decision Making: Decision Making is an important function in management, since decision-making is related to problem, an effective decision-making helps to achieve the desired goals or objectives by solving such problems. Thus the [...]
After reading this article you will learn about the meaning and types of policies. Meaning of Policies: The term policy is derived from the Greek word "Politicia" relating to policy that is citizen and Latin work "politis" meaning polished, that is to say clear. These policies which are generally formulated at top level helps managers sufficient freedom to make judgments [...]