Enhancing decision making

WELLCOME TO OUR PRESENTATION

Submitted By1.MIR MD BELAL 1022114557

2.NISHAT YESMIN SONIA 1022114586

3.SIFUDDIN AHAMED 1022114559

4.JOYASREE GHOSH 1022114684

5.KOHINUR AKTHER 1022114580

6.MILLATH HOSSINE 1022114595

Submitted To:

Mrs. Shamima Parvez

Lecturer of Premier University

Department of BBA

Presentation On Course Title : Management

Information System .

Chapter: Enhancing Decision Making.

contents Business value of improved decision

making .

Types of decisions

The decision making process

Managerial Roles

Real world decision making

What is decision making ? Decision making is the catalyst of that drives

the planning process. An organizations goals follow from decision made by various managers.

Now a days decision making in business used to be limited to management. The different level of

organization such as senior/middle or operational management have used to different decision making.

In taking proper decision we have to think about:

* better decision making.* how does it took place in

the business and other organization.

Business Value Improved Decision Making To improve the decision making of business value we have to think about :

1. What does it mean to the business to make batter decision ?

2. What is the monetary value of decision making ?

Figure : 1Example Decision

Decision Maker

Number of annual decision

Estimated value to firm of a single improved decision

Annual Value

Allocate support to most valuable customer

Accounts Manager 12

Tk.

1oooooTk.

1200000Product call center demand

Call center management 4 150000 600000

Decide parts inventory levels daily

Inventory Management 365 5000 1825000

Identifycompetitive bids from major suppliers

SeniorManagement

1 2000000 2000000

Schedule production to fillorders

ManufacturingManager 150 10000 1500000

Allocate labor to complete a job

ProductionManager

100 4000 4000000

Types

of

Decisions

Types of Decisions

There are three types of decision that's are given below:

# Unstructured Decision.

# Semistructered Decision.

# Construct red Decision.

Unstructured DecisionUnstructured Decisions are those in which decision

maker must provide judgment, evaluation and insight to solve the problem.

Semi Structured DecisionSome decision procedure can be per specified, but not

enough to lead to a definite recommended decision. It occurs when only part of the problem has a clear cut answer which is provided by an accepted procedure.

Structured Decisions Structured Decisions are repetitive and routine, and they involve a definite procedure for handling them so that they do not have to be treated each time as if they were new.

Information Requirements of key Decisions groups in a firm:

Decision Characteristics:

Unstructured

Semi structured

Structured

Senior Management

Middle Management

Operational Management

Stages Decision Making Process

Intelligence

Design

Choice

Implementation

Steps of decision making: There are four steps in decision making.

That’s are given below:

Intelligence.

Design.

Choice.

Implementation.

IntelligenceIt’s consists of discovering,

identifying and understanding the problems occurring in the organization.

Design

It is involves identifying and exploring various solutions to the problem.

Choice

It is consists of choosing among solutions. alternatives.

ImplementationIt involves making the chosen alternatives work and continuing to monitor how well the solution is working.

Managerial Roles Managerial roles are the expectations of the

activities that managers should perform in an organization.

Managerial Roles fall into three categories:

Interpersonal Roles.

Informational Roles.

Decisional Roles.

Interpersonal Roles:

Inter personal Roles fall into the following steps :

1. Figurehead.

2. Leader.

3. Liaison.

FigureheadManagers act as a figurehead

of the organization, when they represent their companies to the

outside worlds and perform symbolic duties.

Leader

Managers act as a leaders. They attempting to motivate, counsel and

support subordinates.

LiaisonManagers also acts as liaison between

various organizational level within each of the levels , they serve as liaison among the members of the

management team.

Informational roles

Informational roles involves these steps :

1.nerve center .

2.disseminator and spoke person.

Never centerManager s act the nerve center of their

organization. They receive most concrete, up to date information & re-distribute the it to those who need them.

Disseminator & spokesperson They also act as information

disseminator & spokesperson for their organization.

Decisional Roles

Decisional role involves : # Entrepreneur.

# Disturbance Handler.

#Resource allocator.

# Negotiator .

EntrepreneurManagers act as entrepreneur by

initiating new kinds of activities.

Disturbance handler They handle disturbance arising in the

organization .

Resource allocator Managers allocate resources to staff

members who need them.

NegotiatorThey negotiate conflicts & medicate

between conflicting groups.

Managerial roles and Supporting Information System

Roles Support System

Interpersonal Roles :FigureheadLeader Liaison

None ExistNone ExistElectronic Communication System

Informational roles :Nerve center Disseminator Spokes person

Management Information System, ESS.Mail, Office System Office and Professional system, Workstation .

Decisional Roles EntrepreneurDisturbance handler Resource allocator Negotiator

None exist.None exist.DSS system. None exist.

Real World Decision Making

Investment in information technology do not always produce positive results.

There are three main reasons:

1. Information Quality.

2. Management filters.

3. Organizational culture.

Information quality

High quality decisions requires high quality information. If the output of information system does not meet these quality

criteria, decision making will suffers.

Information Quality DimensionQuality Dimension Description

Accuracy Do the data represent reality?

Integrity Are the structure of data and relationshipsamong the entities and attributes consistent?

Consistency Are the data elements consistently defined?

Completeness Are all the necessary present?

Validity Do data values fall with in defined ranges?

Timeliness Area data available when needed?

Accessibility Are the data accessible , comprehensible and usable?

Management Filters

For instance wall street firms such a bear streams and Lehman Brothers imploded in 2008

because they underestimated the risk of their investments in complex mortgage securities, many of which were based on

subprime loans that were more likely to default. Management wanted to make sure that their firms capital was not all tied up as a cushion against defaults from risky

investing it to generate profits.

Organizational Inertia and PolitiesOrganizations are bureaucracies with limited

capabilities and competencies for acting decisively.

Study off business restructuring finds that firms tend to ignore poor performance until threatened by outside takeover and they systematically blame poor performance

on external forces beyond their control.