Lectures on Discipline «Methods of Decision-Making» for the Students of the Speciality 073 «Management» (full-time study bachelors)

The lecture material includes the following topics: 1. Decisions in management. 2. Technology of decision-making process. 3. Modeling of decision-making process. 4. Analysis of the internal and external environment and it’s impact on the implementation of alternatives. 5. Decision modeling under uncertainty. 6. Control of decisions implementation.Every action of a manager is generally an outcome of a decision. A decision is a choice made between alternative courses of action in a situation of uncertainty. In business undertakings, decisions are taken at every step. All managerial functions viz., planning, organizing, staffing, directing, coordinating and controlling are carried through decisions. Decision-making is thus the core of managerial activities in an organisation. As a result of studying the discipline, students will know the place and role of decisions in the organization; types of decisions; main steps of decision-making process; elements of a high-quality decision; modeling and its role in decision-making process; impact of the internal and external environment on decision-making process; decision making under risk and uncertainty; decision tree approach; control of decisions implementation. Lecture material allows students to prepare for practical classes, passing tests and passing the credit.Topic 1. Decisions in management ……………………………………………. 4 Topic 2. Technology of decision-making process …………………………..… 10 Topic 3. Modeling of decision-making process ……………………………….. 15 Topic 4. Analysis of the internal and external environment and it’s impact on the implementation of alternatives ………………………………………..…...19 Topic 5. Decision modeling under uncertainty ………..………………………. 25 Topic 6. Control of decisions implementation ……………………………….... 3