Info, Mgt & Decision Making

DECISION MAKING PROCESSA decision Making process involves all the steps mentioned in the following diagram.

DECISION MAKING MODEL:-
Basically there are three decision making models.

(i) CLASSICAL MODEL:
It is the oldest model of Decision Making and involves All the above steps mentioned in the above diagram

Merits:

(a) Best plan selection
(b) Wide range of alternatives
(c) Deals in interest of organizational goals & objectives
(d) Relevant in present

(ii) ADMINISTRATIVE MODEL:-

In this model, top level management plays a role of opportunistic i.e The decision taken is in the interest of the top level management & then the goal of the organization.
Otherwise the model is similar to classical model.

E.g. - Satyam case.

(iii) HERBERT SIMON MODEL:

Herbert Alexander Simon US nationalist born on June 15,1916.
An economist, scientist, AI Expert, Psychologist, Library Science, Political Scientist, innovator of decision making model.
he is one of the most influential social scientists of the 20th century.
Herbert Simon model states the following form of the decision making Process.

Intelligence--à Problem Recognition
Acquiring relevant data

Design ----à Drawing Alternatives
Evaluating Alternatives

Choice---à Selection of best alternative.
We can also expalin these three forms in the following way.

Limitations:
Implementation & follow up is missing in the Herbert Simon Model due to which the decision maker dont get the exact idea whether the Selected alternative is best or not.

Prof. A. R. Sayyed