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Flight Management

In the realm of flight management, effective decision-making is essential for managers to navigate challenges such as sales drops, complaints, and product quality issues. This process involves identifying problems, setting decision criteria, allocating weights to these criteria, and developing and analyzing alternatives. Managers must select the best alternative based on a scoring system, implement it, and evaluate the outcome for future reference. Understanding rationality, bounded rationality, and different decision-making styles enhances a manager’s ability to make informed decisions, ultimately leading to successful outcomes.

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Flight Management

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Presentation Transcript

  1. Day 03 Flight Management

  2. Managers as Decision Makers Managers have to make decisions. Meaning they have to make choices. Making a decision is not a single task. But it is a process.

  3. Decision Making Process 1 Identification of Problem

  4. What is the problem? • Sales drop • Complaints • Poor quality of product

  5. Decision Making Process 2 Identification of Decision Criteria

  6. Identify the decision criteria

  7. Decision Making Process 3 Allocation of Weights to Criteria

  8. Each decision criteria is not equally important. • So the important ones got higher weight and the less important ones got lower weight.

  9. Decision Making Process 4 Development of Alternatives

  10. Find alternatives of the solution of the problems.

  11. Decision Making Process 5 Analysis of Alternatives

  12. Find the points of each decision criteria of each alternative. • To get a clearer picture, multiply the points with its weight and get the total.

  13. Decision Making Process 6 Selection of an alternative

  14. Selecting the one that gives the highest score.

  15. Decision Making Process 7 Implementation of the Alternative

  16. Implement the alternative.

  17. Decision Making Process 8 Evaluation of Decision Effectiveness

  18. The outcome of the implementation has to be monitored for use in the future.

  19. Managers Making Decisions • Rationality – logical and consistent choice to attain the highest value. • Bounded Rationality – rational but limited only to their limited experience and understanding of the problem. • Intuition

  20. Types of Decisions • Structured Problems And Programmed Decisions • Unstructured Problems and Nonprogrammed Decisions

  21. Conditions of Decision Making • Certainty • Risk • Uncertainty

  22. Styles in Decision Making • Linear / Nonlinear Style • Biases and Errors • Over confidence • Immediate Gratification • Anchoring Effect • Selective Perception • Confirmation • Framing • Availability • Representation • Randomness • Sunk cost • Self-serving • Hindsight

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