decision making model - b.e (cs/it) - ee&fa/c - dr.k.baranidharan, sri sairam institute of...
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Decision Making Model - B.E (CS/IT) - EE&FA/C - DR.K.BARANIDHARAN, SRI SAIRAM INSTITUTE OF TECHNOLOGY, CHENNAITRANSCRIPT
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Sri Sairam Institute of Technology 2
Prepared by :Dr. K. BARANIDHARAN
PROF.MBASRI SAIRAM INSTITUTE OF TECHNOLOGY
CHENNAI
ENGINEERING ECONOMICS
AND FINANCIAL
ACCOUNTING
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Engineering Economics&
Financial Accounting
Ee&fa3April 28, 2023
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Decision making model
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Three Decision-Making Models
Classical Model
Administrative Model
Political Model
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Characteristics of Classical, Political, and Administrative Decision Making Models
Classical Model Administrative Model Political Model
Clear-cut problem and goals Vague problem and goals Pluralistic; conflicting goals
Condition of certainty Condition of uncertainty Condition of uncertainty/ambiguity
Full information about Limited information about Inconsistent viewpoints; ambiguous
alternatives and their outcomes Alternatives and their outcomes information
Rational choice by individual Satisficing choice for resolving Bargaining and discussion among
for maximizing outcomes problem using intuition coalition members
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Decision Styles• Differences among people with respect to how
they perceive problems and make decisions
• Not all managers make decisions the same
–Directive style–Analytical style–Conceptual style–Behavioral style
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Directive Style
• People who prefer simple, clear-cut solutions to problems
• Make decisions quickly• May consider only one or two
alternatives• Efficient and rational• Prefer rules or procedures
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Analytical Style• Complex solutions based on as
much data as they can gather• Carefully consider alternatives• Base decision on objective,
rational data from management control systems and other sources
• Search for best possible decision based on information available
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Conceptual Style
• Consider a broad amount of information• More socially oriented than analytical style• Like to talk to others about the problem
and possible solutions• Consider many broad alternatives• Relay on information from people and
systems• Solve problems creatively
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Behavioral Style• Have a deep concern for others as individuals• Like to talk to people one-on-one• Understand their feelings about the problem
and the effect of a given decision upon them• Concerned with the personal development of
others• May make decisions to help others achieve their
goals
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New Decision Approaches for
Turbulent Times
Learn, Don’t Punish
Know When to Bail
Practice the Five Whys
Engage in Rigorous Debate
Brainstorming
New Decision Approaches for Turbulent Times
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