Decision Science Management​

Decision-making is a critical process for any team, especially managers and leaders. But why is this the case? It is common for management to make important decisions in the welfare of their organization. Effective decision-making can improve workflows and foster an environment that nurtures innovation. If you are a member of your company’s management team, learning the proper steps in the decision-making process may help you make more informed decisions. It is presumed that decision-making requires you to use the best of both worlds – your gut instinct and your mind. You are at risk if you rely too heavily on either. It occurs because most of our decisions as leaders have a significant impact. Your decisions as managers and leaders can propel teams to success or send them to the sandbox. The possibility of change is what gives decisions their significance.In this MDP, we will discuss why decision-making in management is important, examine the various types of decision-making techniques, and outline the steps you can take to make the best decisions for your organization.

Objectives:

This MDP aims to cover the following objectives:

• To understand the rationale behind managerial decision-making.
• To study the relevance of decision-making along with its types.
• To identify ways to extract decision-making criteria for any business problem.
• To practically implementmulti-criteria decision-makingtechniques for makingknowledgeable decisions.

Contents of the MDP

• Introduction to Decision Making
• Evaluating Decision-Making Criteria
• Decision Making under Multiple Criteria
• Role of Case Studies in Decision Making

Takeaways for the Participants:

• Enhancement in decision-making skills.
• Learning how to extract critical factors involved in a managerial problem.
• Practical exposure through hands-on case study analysis.

Pedagogy:

In order to give clarity on the concepts, the MDP will be a collection of interactive sessions including a mix of interactive presentations and usage of case studies. Other than this, hands-on training will be provided for making effective decisions based on real-life data.

Intended Audience:

This MDP is designed for managers and leaders who regularly face the dilemma of making a justified and knowledgeable decision.