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Timing of Decision: For Example: There Is A Possibility That The Competitors

Timing is crucial for effective decision-making. Decisions must be made at the appropriate time or their usefulness will be lost. For example, if a firm does not decide to introduce a new product in time, competitors may take the market share. Thus, properly timing decisions is important.

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Mukul Suhalka
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36 views

Timing of Decision: For Example: There Is A Possibility That The Competitors

Timing is crucial for effective decision-making. Decisions must be made at the appropriate time or their usefulness will be lost. For example, if a firm does not decide to introduce a new product in time, competitors may take the market share. Thus, properly timing decisions is important.

Uploaded by

Mukul Suhalka
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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TIMING OF DECISION

• Timing is crucial in the process of decision-making. Mere


taking decisions is not only the problem, the proper time
to take the decisions is also an issue.

• The usefulness of the decisions will be lost if they are not


taken at the appropriate time.

• For example: there is a possibility that the competitors


will seize the market share if decisions regarding
introduction of a new product are not taken by the
concerned firm at the proper time. Hence, it can be said
that ting has a crucial role to play in decision-making.
FOUR DECISION-MAKING STYLES

AUTOCRATIC: You make the decision on your own without input


from your team.

CONSULTATIVE: You ask your team for information that would be


helpful and for their opinions, either individually or as a group, but
you make the final decision.

TEAM: You pull your team together to discuss the situation and
decide as a team. You facilitate their reaching consensus, where
everyone agrees to support the decision. As a member of the group,
you must be willing to support the decision as well.

DELEGATING: You are not part of the decision-making process.


You might ask to be informed of the decision (or not), but you will not
change the decision.

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