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Decision Making for M.Com Students

The document is about Babar wanting to buy a new mobile phone that costs Rs. 15,000 but he only has Rs. 10,000. It outlines the 6 steps of decision making: 1) Identify the problem, 2) Identify objectives, 3) Generate alternatives, 4) Evaluate alternatives, 5) Select alternatives, 6) Make a decision. For Babar, the alternatives are to save money until he has enough, borrow money, or buy a cheaper phone. After evaluating the alternatives based on importance, Babar decides to wait and save more money to buy the phone he wants without borrowing.

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aminurrahman
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25 views3 pages

Decision Making for M.Com Students

The document is about Babar wanting to buy a new mobile phone that costs Rs. 15,000 but he only has Rs. 10,000. It outlines the 6 steps of decision making: 1) Identify the problem, 2) Identify objectives, 3) Generate alternatives, 4) Evaluate alternatives, 5) Select alternatives, 6) Make a decision. For Babar, the alternatives are to save money until he has enough, borrow money, or buy a cheaper phone. After evaluating the alternatives based on importance, Babar decides to wait and save more money to buy the phone he wants without borrowing.

Uploaded by

aminurrahman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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ASSIGNMENT OF BUSINESS RESEARCH METHOD

Name Amin ur Rahman

Roll no 58

Class M.com 3rd semester

Submitted to Dr Khawar Naheed

Decision making process with a practical example:


Decision making: A decision is one when there are different thing you can do
and you pick one of them you make lots of decision in every day. Or easily we can
say that choosing between alternatives.

EXAMPLE: Babar want to buy a new mobile unfortunately the one he wants
costs Rs 15000 and he has only Rs 10000. He wonders how he will get the rest of
the money.

Step no 1
identify the problem: I am try to search out actual problem. the problem is
babar does not have enough money to buy the new mobile.

Step no 2
Identify objectives : we decide after care full consideration that the mobile
memory, storage, capabilities, display qualities, battery life and warranty of the
relevant criteria in our decision.

Step no 3
Generating alternatives: think of all the possible alternatives that babar buy
a new mobile

1 babar save his money until he’s has got enough money.

2 babar borrow money from has friends or relatives.

3 buy a cheaper or second hand mobile.

Step no 4
Evaluating alternatives: list both the negative and positive alternatives
1 Save has money until he’s has got enough money
 +ve he will feel proud about his accomplishment he will get the
phone
 -ve he has to wait.
2 borrow money from his friends and relatives
 +ve babar will get the phone right away
 -ve babar won’t feel independent friends and relatives say no to has.

3 buyer a cheap or second hand mobile

 +ve babar will get the phone right way


 - ve babar won’t get the phone

Step no 5
Select in alternatives: what is important to babar. He will find some ways
 Getting the phone he really wants
 Getting the phone right a way
 Not borrowing money

After choosing what is important find out their solution

Step no 6
Make a decision : babar decide to wait in order to save some more money
for phone

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