Abstract

ENHANCE THE MANAGERIAL PLANNING USING PROBABILITY BASED DECISION TREE

Dr. Sanjay Kumar

Volume: 1 Issue: 1 2011

Abstract:

Managerial Planning is the most basic function of management. The important activity of planning is forecasting of business, market trend, commodity trends and other functions which affect performance. Planning is the function that determines in advance what should be done. It is a road map to lead an organization from where it is now to where it will go. A strategic plan must reflect the thoughts, feelings, ideas and wants of the developers. It should be flexible & practical. So developed of a plan is a scientific research area, which involves many science disciplines such as statistic, information technology, economics & other. Decision tree is helpful to select the best decision among various alternative by manager. If it is based on probabilistic, the managerial planning is enhance, which is discussed in this paper.

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