Category: Decision Making

Man has the capacity to understand the ideational relation between the two orders of reality. It includes all the functions of memory, imagination, reasoning, observation, intuition, apprehension and so on.The world according to Islam is not the work of chance; it was created in perfect condition. Everything that exists does so in a measure proper to it and fulfils a certain universal purpose. Man has the capacity to know that purpose and ability to work accordingly.Man is capable of modifying the activities of him and his society so as to actualize the divine pattern or commandant in himself as his fellows and environment must all be capable of receiving the efficacious action of man, the subject. Image Source: genheration.com ADVERTISEMENTS: Islam suggests rationalistic activities for man. These include the rejection…

Some modern approaches also played a significant role in the evolution of management theories. These approaches can be classified as Quantitative School of Thought, the Systems Theory and the Contingency Theory. 1. Quantitative School of Thought: Quantitative school of thought emerged during the World War II. During the war, managers, government officials and the scientists were brought together to help the army to effectively utilize resources. Using earlier mathematical approaches to the concepts advocated by F.W. Taylor and Gantt, the experts of quantitative school of thought, solved many logistic problems in the war. Image Source: cdn.siasat.com ADVERTISEMENTS: After the war, such techniques were applied by many organizations to solve their business problems. This school of thought extensively utilized statistics, optimization models, information models and computer simulations for decision making and…

Main characteristics of political system are as follows: 1. A political system is a set of intersections abstracted from the totality of social behaviour, through which values are allocated for a society. 2. There are certain properties common to both natural and social systems. Like natural systems, social systems possess properties that enable them to cope with the words—types of disturbances to which they may be subjected.Like a living system the political system has ‘responding’ and ‘self regulating’ mecha­nisms by which it can change, correct and readjust its processes and structures in the face of activity which threatens to disrupt its own activity.3. Political system is not a static but a dynamic affair. ADVERTISEMENTS: It is on account of the feedback mechanism that the system persists even though everything associated…

One way forward in this direction however is to know what needs to be done and what is the status of the efforts already made in that regard in today’s world. Short of a revolution which transforms the entire state apparatus, we must learn to evolve responses to the legitimate security and market concerns of the states and the Transnational Corporations (TNCs), while meeting human needs, eliminating weapons of mass destruction and protecting planetary environmental resources.The rollback process indeed is difficult and it has several stages. However, two lessons are worth- remembering in the wake of termination of cold war rivalries, (a) As Paul Kennedy says, a nation’s rise to economic prominence inexorably leads it to seek military pre-eminence. This is something, which needs to be guarded against; (b) Security…

Types of factors which influence the cost of production are as follows:An entrepreneur has to take some very important decisions before setting up a new venture. These decisions have close bearing on the cost of production of the product in the long run.He has to decide the site of the works, the nature of production, scope and size of the market that will be served and the size of the plant. ADVERTISEMENTS: All these decisions are of such nature that once taken cannot be altered time and again. All these decisions affect the cost of production in the long run.The entrepreneur, therefore, should study the various forces (factors) which may affect the cost behaviour in the long run.Generally there are three types of factors which influence the cost of production…

Factors that affect an organisation’s human resources from outside the organisation are as follows:Personnel manager cannot perform his job in a vacuum as a number of environmental factors affect HRM. The environment furnishes the macro context and the organisation is the micro unit.Of primary importance here are the external influences of economic conditions, labour markets, laws and regulations and labour unions. Image Source: eastafricauniversity.net ADVERTISEMENTS: Each of these external factors separately or in combination can influence the HRM function of any organisation.The changes in the external environment of an enterprise have a profound impact on its personnel. These changes include technological obsolescence, cultural and social changes, policies of the government etc. ADVERTISEMENTS: The external environment consists of those factors that affect an organisation’s human resources from outside the organisation. Factors…

Free sample essay on Elections in India. Elections are very important in democracy. In fact, it is a big festival in democracy. It is through elections that people participate in the formation of government.They become participant in decision making through elections. Elections are held after a specific period. Generally, they are held every five years. Elections are held to elect representatives for the parliament, state assemblies and for local bodies.Democracy is a government of the people, for the people and by the people. Governance in democracy depends on representation. Representatives are elected by the people. Everybody in a modern democracy above a certain specified age has the right to vote until he is disqualified by law. It means that only law can disqualify a man from his voting right on…

The proposal to have an international trade organisation was mooted first in 1945 at the World War II. During the outer war periods, 1919 and 1939 free flow of international trade has been badly disrupted by various European countries such as U.S.A., Canada and Japan.They raised high tariff walls and importing quota restrictions in import goods into them, while at the same time resorting to export promotion through shipping of their products in foreign markets and engaging in heavy doses of devaluation of their currencies with the avowed object of making their exports cheep in other countries and imports in the domestic market dearer. ADVERTISEMENTS: This policy of trade not only led to heavy shrinkage of the volume of world trade but also to a severe decline in national income…

Reservation policy fails to achieve its purpose of giving equal opportunity to everyone because of lack of infrastructure in the rural areas of the country where the proportion of backward classes is significant.A number of people living in some remote areas in Orissa, M. P. or Bihar are not even aware of these policies. They are deprived of even primary education and basic employment which make them more backward financially. It fails to establish which causes disequilibrium in the status of the states. ADVERTISEMENTS: The total reservation quota stands at 49% in many states of India and this includes the SCs, STs and OBCs. The trend seems to have shifted to reverse discrimination rather than more affirmative action. Some backward class’s elite have gained political and economic clout based on…

Phases that an organization should adopt for an effective Knowledge Management system are:1. Awakening phase (Pre-implementation phase)2. Actionable phase (Design & development phase) ADVERTISEMENTS: 3. Implementation phase (Deployment phase)4. Maintenance & ‘measurement phase (Post-implementation phase) brucerosenstein.com Awakening Phase (Pre-implementation phase): Review of organizational mission/vision statements for any KM initiatives to succeed, it has to be synchronized with the organizational vision. ADVERTISEMENTS: Hence, it is a recommended practice to flag off the KM initiative by reviewing the organizational mission/vision and understands how a KM initiative can help the organization realize its objectives. The associated implementation scope can also be gauged.In case an organization cannot establish a strong case for commencing a KM initiative, the plan should be outright abandoned.Organizational mission statement The Mission Statement declares “why” an organization exists, and is…