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Chapter 4
4.1
Every organization has some goals and objectives to achieve. Two types of goals and objectives are
included, short term goals and long term goals. There is a management to work in every institute or
organization to achieve these objectives. Managers are the leaders of that management and they guide and
operate the employees to go after those objectives and these managers have abilities and skills to resolve
all kind of issues during the journey to achieve the set objectives.
4.2
Mangers are the people who make decisions and these decisions should me simple and programmed.
Complex and lack of research work can bring higher risks and uncertainties for the organizations.
Managers should have enough experience and skills to execute the decisions and these decisions are the
basic factor of the maximum outcomes for an organization. Thus, early decisions are essential to be
4.3
Objectives are the bull’s eye and they are the basic aim and goal of a company to achieve in the end. In
the early stage of starting a thing, managers make decisions and set the objectives. Must and Want are the
elements that are used to work and include the factors to achieve the set objectives. Must is all about the
factors that are very essential to follow while heading towards the objectives. On the other hand, Want is
the area that can be ignored and it is not necessary to include because Want is to resolve some issues if
4.4
There is a difference in creativity and innovation. Creativity refers to the new ideas that come to minds
and innovation is to apply that ideas and run as a process to bring the productivity. Creativity is an idea
while innovation is implementation of that idea. Alternatives can be used to bring the creativity and these
alternatives are as; brain storming sessions, Delphi techniques, synectics, nominal groups and consensus
mapping. During the time of decision making the alternatives can be decided.
4.5
Quantities designs and techniques are used during the decision making process and the decisions related
to the capital and budget are made with the help of data gathered from the different resources to utilize the
capital for maximum results. Cost control strategy can be decided during the decision process and
institutional data needed to analyze the elements involved in the production regarding capital and money.
Intuition and experience is the important to decide the capital and utilization later in this process.
4.6
Plans and strategies are essential to implement in an effective way to prove the decisions right. Decisions
have no use if plans are not executed. Plans are needed to implement with the perfect time management
and right time can bring maximum positive results. Furthermore, plans should be controlled and
monitored during the working time period. Analytical process should be there while implementing or
applying a plan.