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Managerial Decision Making

Managerial Decision Making. Chapter Three. Characteristics of Managerial Decisions. Figure 3.1. Lack of Structure. Programmed decisions Decisions encountered and made before, having objectively correct answers, and solvable by using simple rules, policies, or numerical computations.

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Managerial Decision Making

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  1. Managerial Decision Making Chapter Three

  2. Characteristics of Managerial Decisions Figure 3.1

  3. Lack of Structure • Programmed decisions • Decisions encountered and made before, having objectively correct answers, and solvable by using simple rules, policies, or numerical computations. • Nonprogrammed decisions • New, novel, complex decisions having no proven answers.

  4. Comparison of Types of Decisions Table 3.1

  5. Conflict • Conflict • Opposing pressures from different sources, occurring on the level of psychological conflict or of conflict between individuals or groups.

  6. The Stages of Decision Making Identifying and diagnosing the problem

  7. Making the Choice • Satisficing • Choosing an option that is acceptable, although not necessarily the best or perfect • Optimizing • Achieving the best possible balance among several goals

  8. Implementing the Decision • Determine how things will look when the decision is fully operational. • Chronologically order the steps necessary to achieve a fully operational decision. • List the resources and activities required to implement each step. • Estimate the time needed for each step. • Assign responsibility for each step to specific individuals.

  9. Implementing the Decision • What problems could this action cause? • What can we do to prevent the problems? • What unintended benefits or opportunities could arise? • How can we make sure they happen? • How can we be ready to act when the opportunities come?

  10. Barriers to Decision Making

  11. Pros and Cons of Using aGroup to Make Decisions Table 3.2

  12. Managing Group Decision Making

  13. Constructive Conflict • Cognitive conflict • Issue-based differences in perspectives or judgments. • Affective conflict • Emotional disagreement directed toward other people.

  14. Constructive Conflict • Devil’s advocate • A person who has the job of criticizing ideas to ensure that their downsides are fully explored. • Dialectic • A structured debate comparing two conflicting courses of action.

  15. Brainstorming • Brainstorming • A process in which group members generate as many ideas about a problem as they can; criticism is withheld until all ideas have been proposed.

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