1. DECISION-MAKING IN MANAGEMENT Presented by: Adetuwo Abisoye Omowumi NSC/2007/093 Ogunbiyi Damilola Rebecca NSC/2008/185 Oluwasanmi Mary. A. NSC/2008/219 Oluwasanmi Temitope. T. NSC/2008/220 Ademola Funmilayo. A. NSC/2008/111 Bello Ahmed Afolabi NSC/2008/155 Adeosun Bukola. O. NSC/2008/115 Odofin Oluwafemi Michael NSC/2008/184

2. Objectives At the end of the learning session, the class will be able to: - Define decision, decision-making -Identify the steps of decision-making process -Identify the two main basic types of decision

3. Questions What is decision? What is decision-making? What are the steps involved in decision making process? What are the types of decision making?

4. INTRODUCTION TO CONTENT All human beings are faced with certain situations in everyday & professional life that necessitate qualitative decisions to be made. A plan cannot be said to exist unless a decision, a commitment of resources, direction or reputation has been made. To avoid mistakes, it is necessary to take decisions in an organized way.

5. DEFINITIONS Decision is a choice made between two or more available alternatives. By oxford dictionary, it is a choice or judgment that you make after thinking and talking about what is best thing to do. Decision-Making: is the process of choosing the best alternative for reaching objectives.

6. STEPS IN DECISION-MAKING PROCESS -Define the problem -Develop alternatives -Evaluate the alternatives -Make the decision/choice

7. STEPS IN DECISION-MAKING PROCESS CONTD. -Implement the decision/choice -Monitor the decision made

8. DECISION-MAKING PROCESS CONTD Define the problem This is the first step in towards a decision making procedure. -state the underlying problems -e.g. for a marketing manager, the goal of an organization could be minimizing cost or maximizing profit.

9. DECISION-MAKING PROCESS CONTD Develop alternatives The situation of making a decision arises because there many alternatives available for it. You will also have to do adequate RCH to come up with the necessary facts that would aid in solving the problem i.e. acquiring a thorough understanding of the problem by seeking information from people who have experts knowledge.

10. DECISION-MAKING PROCESS CONTD Evaluate the Alternatives This is the stage at which various alternatives are analyzed. It involves the utilization of the vital information gathered through the processes of defining the problem. It is important to identify the merits & demerits of each options.

11. DECISION-MAKING PROCESS CONTD Making the Decision This is the stage where the hard work one put in analyzing would lead to a proper decision. This entails the selection of a cost efficient and effective option.

12. DECISION-MAKING PROCESS CONTD Implement the decision Making the decision would not give the result one want. Rather, one has to carry out the selected action which is the final decision agreed upon.

13. DECISION-MAKING PROCESS CONTD Monitor the Decision Making a decision & implementing it is not the end of the procedure. It is crucial to monitor one’s decisions regularly once they are implemented.

14. TYPES OF DECISION Programmed Decision: This are decisions that are routine & repetitive and the organization typically develops specific ways to handle them. Concerned with relatively routine problems. They are structure and repetitive. Such decision are relatively simple and have small impact. The information related to these problems are readily available and can be processes in a pre-determined manner. it takes very little time and effort as there are decision rules and procedures It is taken at lower level of mgt.

15. TYPES OF DECISION CONTD Non-programmed Decision: Decisions that are typically one shot, usually less structured than programmed decision. Concerned with unique 0r unusual problems. They are unstructured and non repetitive. They demand high degree of executive judgment and deliberation. Information related to these problems are not readily available. It is taken at higher level in organization e.g. expansion of business.

16. THANKS.