Question
Download Solution PDFWhat is the scope of Decision-making?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Administration.
Key Points
- Decision-making is a fundamental function in administration as it involves setting policies, defining objectives, and outlining strategies.
- It encompasses the process of selecting the best course of action from multiple alternatives to achieve organizational goals.
- Effective decision-making within administration requires a thorough understanding of the organization's internal and external environments.
- The scope includes strategic, tactical, and operational decisions that affect the overall functioning of the organization.
- Administrative decision-making ensures efficient resource utilization, risk management, and achievement of long-term objectives.
Additional Information
- Strategic Decisions
- Long-term in nature and often involve significant resources and high risk.
- Examples include mergers, acquisitions, entering new markets, and launching new products.
- Tactical Decisions
- Short-term actions that support strategic decisions and help in achieving specific objectives.
- Examples include marketing campaigns, pricing strategies, and resource allocation.
- Operational Decisions
- Day-to-day decisions that ensure the smooth functioning of organizational activities.
- Examples include scheduling, inventory management, and quality control.
- Decision-Making Models
- Various models like Rational Model, Bounded Rationality, and Intuitive Model are used to make decisions.
- These models help in structuring the decision-making process and improving outcomes.
Last updated on Jun 9, 2025
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