Decision making

Dec 01 2019 1 min read

Hello everyone.. Today the topic is all about decision making..  Decision making is an intellectual process which involves cutting down of unwanted actions and selecting the necessary and needed decisions that would be helpful for the growth of the organization.  Today we are going to know about one of the theory of decision making. It is 'Normative Decision theory' This theory is also known as prescriptive theory of management. It was propounded by Peter F Drucker and Ansoff.  It is a classical approach of decision making which involves selection of one perfect decision maker who has knowledge, rational and accuracy and precision in making the best decisions.  It involves the practical application of decisions involving identification and developing various techniques methods tools that would support people.  In this theory the decisions are supposed to be done in the quantitative manner in order to maximize the profit of the organisation in terms of productivity.  There are certain assumptions that are to be considered in this theory

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