ECONOMICS (CBSE/UGC NET)

ECONOMICS

DECISION MAKING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Purchase of raw materials comes under which kind of decision
A
Programmed decision
B
Strategic decision
C
Organisational decision
D
Non programmed decision
Explanation: 

Detailed explanation-1: -Programmed decisions are concerned with the problems of repetitive nature or routine type matters. These decisions are taken generally by lower level managers. For eg. Purchase of raw material.

Detailed explanation-2: -Some common examples of programmed decisions include developing weekly work schedules for part-time employees, decisions regarding personnel arriving late to work and reordering office supplies.

Detailed explanation-3: -Non-programmed decisions are made one time and are unstructured. An example of non-programmed decision-making can be acquiring another organization. Re-ordering an inventory or reprimanding employees in case violating specific work rules can be an example of a programmed decision.

Detailed explanation-4: -What are Programmed Decisions? Programmed decisions are repetitive and routine in nature. That is, this type of decision or response to a situation is common within the organization and largely automated. Programmed decisions are generally documented as Procedures, Policies, or Rules.

Detailed explanation-5: -Organisational and personal decisions: These decisions reflect use of authority. Operational and strategic decisions: Research and crisis-intuitive decisions: Opportunity and problem-solving decisions:

There is 1 question to complete.