MGT503 1st questn ka solution

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1st questn ka solution but plzzzzzzzzzzzzzzz changing kr laina its just a concept.................
QUESTION NO 1:

           Which technique of decision making can help in deciding the quantity of each product to be produced?

ANSWER:

Decision making can be hard .almost any decision involves some conflicts or dissatisfaction. Effective and successful decisions make profit to the company.
Mustafa should make appropriate rational decision making. Rational decision making brings a structured or reasonable thought process to the act of deciding rational decision making is important. When making high value decisions that can benefits from the tools, processes or the knowledge of experts.
Herbert Simon (1916-2001)
     Anything that gives us new knowledge gives us an opportunity to be more rational”
A logical and systematical decision making process help you address the critical elements that result in a good decision. You can build on the approach to make your decision better and better.
There are six steps to effective decision making.
  • Create a constructive environment.
  • Generate good alternatives
  • Explore these alternatives
  • Choose the best alternatives
  • Check your decision
  • Communicate your decision and take action.
1-Create a constructive environment:
To create a constructive environment for successful decision making, Make sure you do the following
Establish the objective.
Agree on the process
Involve the right people
Allow opinion to be heard
Make sure you are asking the right questions
Use creativity tools from the task
2-Generate good alternatives:
When you generate alternatives you force yourself to dig deeper and look at the problem from different angles. If you use the mindset there must be other solutions out their. You’re more likely to make the best decision possible.
3-Explore these alternatives:
When you’re satisfied that you have to good selection at realistic alternatives, then you’ll need to evaluate the feasibility, risks and implementations of each choice.
      Effective analytical tools are
  • Risk
  • Implications
  • Validation
4-Choose the best alternatives:
After you have evaluated the alternatives, the next step is to choose between them
5-Check your decision:
The next step is to check your decision that it is keep according to your requirement            and deciding the best way forward.
6-Communicate your decision and take action:
Once you’re making your decision, if important to look forward about its effectiveness on making decision and involved in implicating it. More information you provide about risk and project benefits.

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