Decision Making Models

BIBLIOGRAPHYBIBLIOGRAPHY• Weihrich & Koontz, Management• Study Material by Prof. Keshav

Sharma.• Peter F. Drucker, Management Tasks,

Responsibilities and Practices.• www.google.co.in• Business Today

DECISION MAKING DECISION MAKING MODELS MODELS

Economic Man ModelAdministrative ModelImplicit Favourite Model

Economic ModelEconomic Model

DiscoverSymptom

Define Problem

DevelopCriteria

SelectBest

Alternative(6)

Act Decision

Altntivs

ASSUMPTIONS

•Collection Of Information•Storage Of Information•Information Manipulation •Economic Rationality

EXAMPLES

Introduction Of new Product

ADMINISTRATIVE MODELADMINISTRATIVE MODEL

Define Problem

EstablishCriteria

IdentifyFeasible

Alternative(3)

AppraiseAlternative

Act(5)

AppraiseEaseOf

AspirationLevel(6)

GAMESMAN MODELGAMESMAN MODEL

SetGoal(1)

IdentifyImplicitFavorite

CompareAnd RankRejected

Alternatives(3)

IdentifyConformAction

Candidate(4)

EstablishCriteria

AnnounceDecision

(6)Act(7)

CORPORATE EXAMPLESCORPORATE EXAMPLESMicrosoft Ltd

ROB-Internal Application 3400 Financials Analysts

Wipro Technologies Ltd Specialized Tools

Infosys Ltd

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Decision Making Models

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