Deal or No Deal is an activity conducted for MBA student batch 2019 by Dr.Samiya Mubeen where IIBS students are made to take decisions under uncertainty. Dr. Samir R. Pradhan was also a part of the activity where sir encourages the students to take the risk and make a wise decision. The activity encountered in the rich discussions like risk, utility, and probability. The activity is easy to learn and fun to play in class and usually receives a strong positive response from students. Risk aversion decreases after earlier expectations have been shattered by unfavourable outcomes or surpassed by favourable outcomes. Finance quiz is prepped to boost student knowledge.
The ideas of finance quiz are used along with quantitative procedures to evaluate risk-taking capacity and decision making as in the team and to win as a team. Decision making is a process of selecting the best among the different alternatives is taught for students in this activity. Before making decisions all alternatives student lean to evaluate from which advantages and disadvantages are identified. It helps them to make the best decisions among alternatives.
Objectives of Deal or No Deal
- To analysis the risk factor and making the best decision
- To achieve, preserve and avoid risk while deciding in stipulated time.
- To analysis the success and failure ratio for making wise decisions.
Decision making plays a significant role to implement the managerial function. Without proper decision making, it is very different to make managerial function decision such as planning, organizing, directing, controlling, staffing. Decisions can evaluate based upon the performance. When the decision is correct it is understood that the manager is qualified, able and efficient. When the decision is wrong, it is understood that the manager is disqualified.
Selecting the best alternatives available is very important if you are performing. The successful operation of business leads every individual; departments and organization on decision making and risk-taking.
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