Decision Making Situation/Condition | CA CAP-1 Fundamentals of managemen...


Decision Making environment/ Conditions

1) Certainty


2) Risk

3) Uncertainty

Comments

Post a Comment

Popular posts from this blog

Organizational Goal Explanation

Image
A n organizational goal is a specific, measurable, and time-bound target that a company or organization aims to achieve. These goals are typically aligned with the overall mission and vision of the organization and are used to guide decision-making and evaluate progress. There are many different types of organizational goals that a company or organization may set, such as financial goals (e.g. increasing revenue or profits), operational goals (e.g. improving efficiency or customer satisfaction), or growth goals (e.g. expanding into new markets or launching new products or services). One of the most important aspects of setting organizational goals is making sure they are aligned with the overall mission and vision of the organization. This helps to ensure that all employees are working towards the same objectives and that the organization is moving in the right direction. Another important aspect of setting organizational goals is making sure they are specific, measurable, and time-bou...
Read more

Need Hierarchy Theory of Motivation- By Abraham Maslow

Image
       A braham Maslow's need hierarchy theory of motivation is a well-known theory that explains how human motivation is influenced by a hierarchy of needs. According to Maslow, people are motivated to fulfill their basic needs before they can move on to higher levels of needs. Maslow's hierarchy of needs is often represented as a pyramid, with the most basic needs at the bottom and the more complex needs at the top. The basic needs include physiological needs, such as food, water, and shelter; safety needs, such as personal security and financial security; Once these basic needs are met, individuals are motivated to fulfill their psychological needs, such as love and belonging needs, such as relationships, a sense of community and esteem needs, such as self-esteem and the respect of others. Finally, the highest level of needs is self-actualization, or the desire to fulfill one's full potential and achieve personal growth. Maslow's theory has been influential in th...
Read more

Managerial Skills Meaning and types

  M anagerial skills refer to the abilities and competencies that are necessary for a person to effectively plan, organize, direct, and control the activities of a group or organization. These skills are essential for the successful management of an organization and can be divided into several categories, including: Technical skills : Knowledge and expertise in a specific field or industry. Conceptual skills : The ability to understand and analyze complex systems and to think critically and strategically. Human skills: The ability to work with, understand, and motivate people. Interpersonal skills : The ability to communicate effectively, negotiate, and build relationships. Decision-making skills : The ability to gather information, evaluate options, and make sound decisions. Leadership skills: The ability to provide direction, inspire and guide others, and create a vision for the organization. Managerial skills are developed through education, training, and experience, and ...
Read more

Evolution of management thoughts|| Classical Approach|| Scientific Management Theory by F.W. Taylor

Image
  Evolution of Management Thoughts.   Management practice is as old as human civilization. The evolution of management thought provides the development and progression of ideas and theories about how organizations should be managed and operated.  This evolution has occurred over time, and can be divided into several key stages or approaches, each of which has its own unique perspective and set of ideas.  These stages include the classical approach, which focused on finding the most efficient way to manage organizations; the behavioral approach, which emphasized the importance of understanding human behavior in the workplace; the quantitative approach, which focused on using mathematical models to improve decision-making and organizational efficiency;  A. Scientific Management Theory This theory was propounded by Frederick Winslow(F.W.) Taylor. He is known as the father of scientific management. This theory was based on efficient use of labor as well as improve...
Read more