There are three groups-social, personnel and economic - of managerial decisions which have a direct impact on the employees of any organization. Economic decisions include the methods of manufacturing, automation, shut down, lay-offs, mergers and similar other functions. Personnel decisions refer to recruitment and selection, promotions, demotions, transfers, grievance settlement, work distributions, and so on. Social decisions are related to [...]
In this article we will discuss about the common difficulties faced in decision making with guidelines for making it effective. Common Difficulties in Decision Making: Some common difficulties faced in making decisions and implementing them are as follows: i. Incomplete Information: This is a major problem for every manger. Lack of information leaves a manager adrift in a sea of [...]
In this article we will discuss about the quantitative way of decision-making. Introduction: The administration of a modern business enterprise has become an enormously complex exercise. There has been an increasing tendency to turn to quantitative techniques and models as a potential means for solving many of the problems that arise in such an enterprise. Management in action is decision-making. [...]