Decision Making Process Case study on Micro finance Program of BRAC

Topics: Decision making, Decision theory, Decision engineering Pages: 25 (6247 words) Published: December 8, 2013

Table of Contents

Page No
1.0 Introduction

1.1 Problem and purpose1
1.2 Scope1
1.3 Limitations1
1.4 Sources and methods of collecting information1
1.5 General plan of the term paper1

2.0 The Decision making process

2.1 Decision making2
2.2 Rationality in making decision2
2.3 Importance of decision-making2
2.4 Limitation of decision-making2
2.5 Level and types of management decision-making3
2.6 Ethical issue and decision-making4
2.7 Types of decision5
2.7.1 Programmed
2.7.2 Non-programmed

2.8 Group Decision making6
2.8.1 The Nominal Group Technique
2.8.2 Delphi Group Technique
2.9 The Decision making Process 7
2.10 Decision support system 18

3.0 Conclusion18

4.0 Case Study: Micro finance Program of BRAC19

Appendix

Bibliography22

1.0 Introduction

1.1 Problem and purpose

The objective of this study is to have a clear concept and some practical experience about decision making process. Though we had some textbook knowledge about decision making in a business, but never had any real life practice what so ever. So, to achieve the objective we had a case study about the decision making process of micro credit program of Bangladesh Rural Advancement Committee (BRAC). It will help us to improve our knowledge about how decision is taken in business.

1.2 Scope

The term paper will focus on the basic concepts of decision making. It will also highlight the related topics, various model, techniques, and practical example of decision making in an organization.

1.3 Limitations

While preparing the report, we faced some problem. The main problem was time constraint. Though our course teacher instructed us to prepare a report couple of weeks earlier, we were hampered by our upcoming semester final. That is why we had real trouble in work together and collect data from sources. Another problem was the data insufficiency. For that we had to use so many sources to get the proper information.

1.4 Sources and methods of collecting information

We have collected our data mostly from course books and internet. But they were not enough. So, we have visited BRAC to observe their decision-making system by ourselves.

1.5 General plan of the term paper

In the following pages, the discussion will give an over all view of the decision making system. Firstly, we started our discussion by giving an introduction to decision making and other related topics. Without that information, a reader would not be able to understand our main topics. Then, we discussed the decision-making process. After that, we had the case study of micro credit financing program of BRAC.

2.0 The Decision making process

2.1 Decision making

Decision-making, is the process of choosing a course of action for dealing with a problem or opportunity. It is the way of making rational choices among alternatives. This is not confined with management, but rather it is common thread within the five management functions. Managers are responsible for decision-making. Decision-making is a part of all managers’ jobs. A manger makes decisions constantly as he or she performs the functions of planning, organizing, staffing, directing, and controlling.

2.2 Rationality in making decision

The effective decision must be rational. Deciding rationally is attempting to reach goal that can’t be attained without action. They must have clear understanding of alternatives courses by which a goal can be reached under existing circumstances and limitations. They also must have the information and the ability to analyze and evaluate alternatives in light of the goal sought. Finally the must have to desire to come to the best alternatives that most effectively satisfies goal achievement.

2.3 Importance of decision-making

Decision-making is considered as a major part of planning. It gives the awareness of an...

Bibliography: University of Dhaka
March 14, 2005
March 14, 2005
Naheed Nawajesh Roni
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