PLANNING Steps Importance Components CO ORDINATION Importance MANAGEMENT BY OBJECTIVES Advantages MBE MANAGEMENT INFORMATION SYSTEM Concept Components DECISION MAKING Techniques Essentials Impact Of Technology On Decision Making ID: 1029256
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1. MODULE II: PLANNING AND DECISION MAKINGPLANNING: Steps, Importance, ComponentsCO ORDINATION: ImportanceMANAGEMENT BY OBJECTIVES: Advantages, MBEMANAGEMENT INFORMATION SYSTEM: Concept, ComponentsDECISION MAKING: Techniques, Essentials, Impact Of Technology On Decision Making.
2. PLANNING DEFINITION: “PLANNING IS DECIDING IN ADVANCE WHAT TO DO, HOW TO DO IT, WHEN TO DO IT AND WHO IS TO DO IT.” – KOONTZ AND O’DONNELL
3. STEPS IN PLANNING PROCESSSWOTSHORTMEDIUMLONG(SMART)RESOURCESCAPACITYSMALL PARTS OF A BIG PLAN
4. Importance of planningMinimizes RiskCoordinationProper OrganizingProper DirectionProper ControlEfficiencyInnovationFocus on GoalsDecision MakingMotivates Personnel
5. Components of PlanningStanding PlansMissionObjectivesStrategiesPoliciesProceduresRulesSingle Use PlansProgrammesBudgetsSchedulesProjects15 DAYSAIMS/PURPOSE
6. coordinationIt is an integration or synchronization of group efforts in an organization.
7. Importance of coordinationSATISFACTION, DEDICATION, WILLINGNESS
8. Management by objectives MBO is a management model that aims to improve performance of an organization by clearly defining objectives that are agreed to by both management and employees. When subordinates are involved in setting objectives, they are more likely to fulfill their responsibilities in achieving the objectives.
9. Steps in MBO processAnalysis of EnvironmentCollectively Formulating GoalsCollectively Formulating PlansEvaluating the Alternative PlansSelecting the best PlanImplementation of PlanMeasurement and Comparison of PerformanceCauses of DeviationsCorrective MeasuresFollow upCOLLECTIVELY BY SUPERIORSAND SUBORDINATESSUBORDINATES
10. Advantages of m.b.o.
11. Management by exception MBE is a management technique by which managers’ focus only on those events or activities which deviate significantly from standards. Manager intervene only when employees fail to meet performance standards. MBE enables managers to focus valuable time on more important activities as strategic planning and control.
12. Advantages of mbeAutomation of Routine MattersBusiness ExpansionConcentration on Core IssuesDelegation of AuthorityEfficiency of the FirmFreedom to the EmployeesGoals of the OrganizationCorporate ImageCompetitive AdvantageMotivation to EmployeesEnsures Succession Planning
13. Management information system H.Weihrich and H. Koontz defines MIS as a formal system of gathering, integrating, comparing and analyzing and dispersing information internal and external to the enterprise in a timely, effective and efficient manner.
14. Features of misSystematic ProcessScopeComponentsContinuous in NatureReport GenerationAccessibilityScalabilityProfessional ApproachUnified and CentralizedTypes of Data Base SystemsUser Oriented InformationTimely InformationFuture Oriented
15. Components of misComputer operator, support staff, network administratorSet of rules and guidelines for the use of computer based information systemServer computers, Client computer, Communication mediaTraditional alpha-numerical data, Text data, Image data, Audio dataInput device, Output device, Processors, Storage deviceSystem software, Application software
16. Decision Making “The process of indentifying and selecting a course of action to solve a specific problem.” -James Stoner
17. Essentials of decision making
18. Techniques of decision makingProgrammed Decision – Making Technique: This technique is used for repetitive activities. Normally, the lower level managers make such decisions to solve routine but complex problems.Non-Programmed Decision– Making Technique: This technique is used for unstructured situations or problems of a non-recurring nature. It requires subjective judgement. The top management deals with such decisions.
19. Programmed decisionsLinear Programming: linear or straight line relationship exist between two variable.Game Theory: study of organizations making interdependent choices.Simulation: variables are observed in artificial or simulated situation.Queuing Technique: useful to solve the problem related to waiting line.Network Techniques: Complex project- various activities involved – PERT and CPM.Probability Decision Theory: based on the assumption that there is a chance of certain event or outcome to take place.Payoff Matrix: the return or reward for selecting the best alternative.Decision Tree: extension of pay of matrix.
20. Non-programmed decision makingBrainstorming Technique: group of people, sit across a table to generate ideas.Nominal Group Technique: the group members think independently.Delphi Technique: similar to brainstorming, except the group members do not meet face to face.Quality Circles: small group of employees meet the voluntarily to identify, analyze and solve work related problems.Heuristic Technique: thumb rule technique to fid solution.
21. Impact of technology on decision makingSpeed QualityCostGDSSCommunicationAutomationCore AreasBusiness expansionDecentralization