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1 Techniques of Decision-Making

This document discusses various qualitative and quantitative techniques for decision making. The qualitative techniques covered are the Delphi technique, brainstorming, and SWOT analysis. The Delphi technique involves gathering experts' opinions through multiple rounds of questionnaires to build consensus. Brainstorming encourages generating many radical ideas without criticism. SWOT analyzes internal strengths and weaknesses and external opportunities and threats. The quantitative techniques discussed are probability and linear programming. Probability assigns likelihood values between 0 and 1 to possible events. Linear programming uses linear inequalities to optimize allocation of limited resources.

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Abrar Ahmad
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360 views13 pages

1 Techniques of Decision-Making

This document discusses various qualitative and quantitative techniques for decision making. The qualitative techniques covered are the Delphi technique, brainstorming, and SWOT analysis. The Delphi technique involves gathering experts' opinions through multiple rounds of questionnaires to build consensus. Brainstorming encourages generating many radical ideas without criticism. SWOT analyzes internal strengths and weaknesses and external opportunities and threats. The quantitative techniques discussed are probability and linear programming. Probability assigns likelihood values between 0 and 1 to possible events. Linear programming uses linear inequalities to optimize allocation of limited resources.

Uploaded by

Abrar Ahmad
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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VARIOUS TECHNIQUES OF

DECISION-MAKING

Presented By:-
Abrar Ahmad Ansari
MBA, IInd Sem.

By A3 1
QUALITATIVE TECHNIQUE

 DELPHI TECHNIQUE
 BRAINSTORMING TECHNIQUE
 SWOT ANALYSIS

By A3 2
QUANTITATIVE TECHNIQUE

PROBABILITY

LINEAR PROGRAMMING

By A3 3
DELPHI TECHNIQUE

 This technique developed by OLAF HELMER


and his colleagues at RAND Corporation, has a
degree of scientific respectability and
acceptance.

 A panel of expert on a particular problem area is


selected, usually from both inside and outside
the organization.

By A3 4
DELPHI TECHNIQUE

 The expert are asked to make (Secretly, so that


they will not influenced by others) a forecast as
to what they think will happen, and when, in
various areas of new discoveries or
development.

By A3 5
DELPHI TECHNIQUE

PROBLEM PRESENTED

QUESTIONNAIRE COMPLETED

RESULT COMPILED, DISTRIBUTED

SECOND & SUBSEQUENT QUESTIONNAIRE COMPLETED

CONSENSUS

By A3 6
BRAINSTORMING TECHNIQUE

 Alex F Osborn is called farther of


Brainstorming.
 In the brainstorming session, a multiplication
of ideas is sought.
 The purpose of this approach is to improve
problem solving by finding new and unusual
solution.
 The rules of brainstorming arte follows

By A3 7
BRAINSTORMING TECHNIQUE

 No ideas are ever criticized.

 The more radical (far-reaching); the ideas are,


the better.

 The quantity of idea production is stressed.

 The improvement of ideas by others is


encouraged
By A3 8
SWOT ANALYSIS

 This is a technique which help decision


making by analyzing organization’s internal
strength and weaknesses and external
opportunities and threats.

By A3 9
PROBABILITY
 A probability is a numerical statement about the
likehood that an event will occur.

 The probability, P, of any event or state of occurring is


greater than or equal to 0 and less than or equal to 1.

 The probability of 0 indicates that an event is never


expected to occur.

 A probability of 1 means that an event is always


expected to occur.

By A3 10
LINEAR PROGRAMMING
 It was conceptually developed before World War II
by Soviet Mathematician A.N.Kolmogorov.

 A mathematical model for optimal solution of


resource allocation problems.
 A branch of mathematics that uses linear
inequalities to solve decision-making problems
involving maximums and minimums.

By A3 11
LINEAR PROGRAMMING
Assumptions Of Linear Programming

 Certainty
 Proportionality
 Divisibility
 Nonnegative Variable

By A3 12
References

 Books:

 Management, A Global Perspective,


 Management And Behavioral Process,
 Quantitative Analysis For Management
 Authors: Heinz Weihrich, Harold Koontz.
Shridhar Bhatt.
Barry Render, Ralph M.Stair,JR., Michael E. Hanna

Thank you

By A3 13

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