State different types of decisions

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 TYPES OF DECISION MAKING

Managers make different types of decisions in different situations. Decisions can be classified in terms of frequency of recurrence, nature, importance, time horizon, number of participants in decision making process etc. The various types of decisions are as follows:

1. On the basis of frequency of recurrence

On the basis of frequency of recurrence, decisions can be classified into programmed decisions and non-programmed decisions.

a. Programmed decisions: A decision which is fairly structured or recurred with some frequency is called programmed decisions. Such decisions deal with repetitive and routine problems. If a particular situation occurs, managers will often, develop a routine procedure for handling it. Decision makers know in advance what decisions he/she has to take in particular set of situations. Generally middle level and operating level managers deal with such decision and have short-term impact. There is great deal of certainty in programmed decisions.

b. Non-Programmed decisions: These decisions are relatively unstructured and occur less frequently. Such decisions are required for unique problems and take more time, energy and resources into exploring the situation from all perspective. Intuition, experience, creativity and judgment are major factors in non-programmed decisions. Most of the decisions made by top level management involving organizational missions, goals, strategies, structure and exceptional issues require in this type of decision.

2. On the basis of nature of the decisions

On the basis of the nature of the decisions, it can be classified into three types: a. Strategic decision: Those decisions which are made by top level of management for long term purpose are called strategic decisions. Long term goals, objectives, strategic plans are strategic decisions.

b. Tactical decision : Tactical decisions are the decisions made by department level: managers for their respective departments. They are normally one to three years of term. Such decisions are also called departmental decisions.

c. Operational decision : Decisions taken to solve the problems regarding day to day operation are called operational decision. Such decisions are usually made by operational level supervisors. Decisions relating daily duty management, machine arrangement, etc. are some examples of operational decision.

3. On the basis of the participants involved in decision making process 

On this basis of number of participants involved in decision making process, decisions can be classified into individual decision and group decision as follows:

a. Individual decision: The decision which is made by a single person is called individual decision. Generally simple routined problems are decided individually in organization. 

b. Group decisions: Such decisions which are taken collectively by group of people are known as group decisions. Under this method, group members participate in discussion and share their opinion, ideas and views to reach in decision. Further, decisions can be classified into financial and non-financial decisions, major and minor decisions, short-term and long-term decisions on the basis of organization's financial involvement nature and time horizon respectively.

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