Near about 6.36 billion people in the world and he can never take the same decision always different style to think or handle any situation. Inexperienced person can't take decision. Decision maker is making sound, rational, irresponsible decision depends on his maturity and background of experiences decision are usually taken spontaneous, thoughtless and taken without thinking decision about its consequences seriously.
Technique and process of decision making:
- problem identification
- problem analysis
- developing alternative solution
- evaluate
- rationality of decision making
- selecting the best alternative
- implement the decision
- follow
- Problem identification: It is the first technique of decision making process. when any person takes the decision then first of all find what reason and factors to arise problem in the business. Problem defined equivalent to the half solution then we can easily handle it.
- Problem analysis: after the problem identification, analysis the critical factor of problem. For example: why production is not in factory because labour is not come. Why labour is not come. These entire critical factors are finding before taking the decision. When decision effects only individual then person think not again and again. When decision effects to whole of the organization then person think again and again.
- Developing alternative solution: The next step in decision making process is to developing alternative solution. The main aim of developing alternative solution is to have the best possible decision out of the available alternative course of action. When more and more alternatives then we can take best decision. Every coin has two sides: favorable or unfavorable.
· "Peter drucker" says that;" judgment is never in yes or no whenever you tried any solution. When thinks many points for every problem, some guidelines for divergent thinking then you can best decision. For taking the decision or analysis the problem each and every fact should be collected through differ judgment.
- Evaluate: when you choose many alternative for taking the best decision then for evaluation following points is necessary:
- What you think?
- selecting an alternatives
- past experiences
- operational research
- intuitive
For example: when you purchased a car then select budget then various types of car (option) is opened on the screen. Then you select mileage, color, after these qualities option which are opened on screen is little less. After, some other qualities are selected then more less the option. At last you can choose the best car according to their requirement.
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- Rationality of decision making: consumer should be rational. When person take decision then always rationality personality. Near about 6.36 billion people in the world and he can never take the same decision always different style to think or handle any situation. Perfect rational means every study in detail about the product and see all the alternatives.
- Selecting the best alternative and implement the decision: when take the decision then choose many alternatives and selecting the best alternative and implement the decision.
