THE RESPONSIBILITY FOR MAKING DECISIONS
ELEMENTS OF THE DECISION SITUATION
The Decision Maker
Goals to be Served
Ordering of Alternatives
Choice of Alternatives.
THE RATIONAL MODEL OF DECISION MAKING
Steps in the Decision Making process
Identifying an Existing Problem
Listing Alternative Solutions
Select the Most Beneficial Of These Alternatives
Implement the Selected Alternative
Gathering Problem-Related Feedback
DECISION MAKING AND INTUITION
What is Intuition - What is Intuitive Decision Making?
How Intuition can influence decision making by managers
An Intuitive Approach
RELEVANCE OF PROBABILITY THEORY
Introducing a New Product
GROUP DECISION MAKING
Identification of several alternatives
Knowledge sharing by cross-functional teams
More acceptance of decision
Domination by team members
Group Decision Making Process
Nominal Group Technique
EVALUATING GROUP DECISION MAKING PROCESSES
What is Risk?
BIBLIOGRAPHY …………………………………………………….………………………………………………............................. 28
Whether we realize it or not, decision-making is a part of our daily lives. Everyday there are decisions to be made. Some of those decisions are minor and some of them are life changing. Some of the decision that has to be made is oftentimes obvious and straightforward, while others have to be critically analyzed to arrive at the best alternative. In a similar way organizations must make decisions on a daily basis. Decision making within in an organization is vital for growth and development and should be done effectively for maximum results. The importance of a good decision is relevant to the any organization’s success, thus it is important to have an effective decision-making process so as to prevent poor decisions from being made. This project will look at Decision Making within the organization and the steps that must be followed in order for the decisions to be effective. DECISION MAKING
A decision is a choice made between two or more available alternatives (Certo, 2012). There are two (2) types of Decisions:
Programmed decisions are decisions that occur often enough in an organization which standardized rules are used to make. They are used in relation to repetitive duties which the organization develop a systematic way of monitoring. These standardized rules can take the form of decision guidelines, standard operation procedures, or checklist. Programmed decisions help to ensure that tasks are performed smoothly and consistently, for example the amount of material to put into a specific product. Non-Programmed Decisions
Non-programmed Decisions are decisions that occur infrequently enough in an organization that standardized rules cannot be used to make them. When making non-programmed decisions managers must rely on their experience and intuition. They must be able to think critically and make decisions based on the facts presented. Decisions about new products or building new manufacturing facilities are examples of non-programmed decisions. THE RESPONSIBILITY FOR MAKING DECISIONS
When decisions are to be made, someone has to make them. Generally, top managers make both non-programmed decisions and risky and uncertain decisions. These are usually broad objectives relating to the direction the organization will take. Middle managers often have the tasks of transforming non-programmed...
Bibliography: DECISION MAKING
A decision is a choice made between two or more available alternatives (Certo, 2012).
ELEMENTS OF THE DECISION SITUATION
There are five elements in the Decision Situation, these elements are very important in the decision making process (Certo, 2012)
Please join StudyMode to read the full document