Question

define four managerial decision?

(please write short and simpley)

Answer 1

Q) Define four managerial decision?
Ans- The manaerial decision making involves 6 major decisions. They are :

a) Identify and diagnose the problem.
b) Generate alternative solution.
c) Evaluate alternatives.
d) Make the choice.
e) Implement the decision.
f) Evaluate the decision.

Lets understand four major decisions involved in any managerial decisions.

a) Identify the problem: The problem can be identified through comparing past performance, current performance and future expectations. This is analysed through what is happening, what will happen and what had happened.

b) Generate Alternative Solutions: Managers must have alternate solutions. This is done through creating new ideas for specific problems. Previous problems faced will have similar solutions.

c) Evaluate and choose among Alternative solutions: Managers have to evaluate the alternate solutions effectively. Because this will have direct impact over the performance, finance and future of organisation.

d) Implement and Monitor the chosen solution: This final stage is required to give feedback. Positive feedback indicates good decision making and negative shows the failure of decisions. Implementing the decisions means how the things will look when the decisions become effective. Time, resources and responsibility towards each steps of decisions, and must be careful with the problems towards the opportunities.