1. DECISION MAKING CSH Pharma Group

2. What you think what is decision making?

3. Which Mobile Phone should I buy? What are the things you consider before making a decision?

4. What are the things you consider before making a decision?

7. Barriers to Good Decision Making “ Successful leaders have the courage to take action while others hesitate.” - John C. Maxwell

8. Hasty - Making quick decisions without having much thought. Narrow - Decision making is based on very limited information. Scattered - Our thoughts in making decisions are disconnected or disorganized. Fuzzy - Sometimes, the lack of clarity on important aspects of a decision causes us to overlook certain important considerations.

11. Construct a clear picture of precisely what must be decided. Compile a list of requirements that must be met . Collect information on alternatives that meet the requirements

12. Compare alternatives that meet the requirements. Consider the " what might go wrong " factor with each alternative. Commit to a decision and follow through with it.

13. The Decision-Making Process Identification of a Problem Identification of Decision Criteria Allocation of Weights to Criteria Development of Alternatives Analysis of Alternatives Selection of an Alternatives Implementation of the Alternatives Evaluation of Decision Effectiveness

14. Making Decisions: Rationally rational decision-making: Describe choices that are consistent and value maximizing within specified constraints.

15. Making Decisions: Bounded Rationality bounded rationality decision-making: Behavior that is rational within the parameters of a simplified decision-making process, which is limited (or bounded) by an individual’s ability to process information.

16. Intuition decision-making: Intuition decision-making: a subconscious process of making decision on the basis of experience and accumulated judgment .

17. Decision Making Styles

23. SWOT ANALYSIS T hreats O pportunities W eaknesses S trengths

27. Internal Factors  Organization External Factors  External Environment S trengths W eaknesses O pportunities T hreats

29. Group decision-making

30. Advantages and Disadvantages of Group-Aided Decision Making Advantages Disadvantages 1. Greater pool of knowledge 2. Different perspectives 3. Greater comprehension 4. Increased acceptance 5. Training ground 1. Social pressure 2. Minority domination 3. Logrolling 4. Goal displacement 5. “Groupthink”

35. Any Questions?