Lesson 10 Quiz Values by Aurora Bedova

Decision making is a fundamental management function. In the light of this statement, define and explain including all the 3 approach of decision making (rational, behaviour and practical), with examples, all the views on how managers make decisions. Explain with Examples.

Can you Please hep me with this

An effective decision maker spends much time determining the possible scenarios in future. In the light of this statement, define and explain with examples all three approaches on how managers make decisions. Answer this question in not more than 700 words.

Discuss the different roles played by the qualititative and quantitiative approaches to managrial decision making.  Why it is important for a manager or decision maker to have a good understanding of both of these approaches to decision making?

Can you describe the difference between a rational decision and a non-rational decision? Is it possible to always make rational decisions?

Your Task For each scenario, discuss the following: - What is the issue (there may be more than 1)? - Who are the parties affected? - List and explain 2 alternatives for handling each situation o Discuss 2 pros and 2 cons for each alternative - What is your conclusion? Discuss the best way to handle each situation - use reasoning to justify your decision Situation You are the owner of a small craft store. When doing the scheduling, you put Judi on the Friday shift. On Tuesday, Judi comes to you and says that she cannot work. You remind Judi that she needs to tell you the days she is unavailable at least one week in advance. You insist that she work on Friday. At 7:00 a.m. on Friday, Judi calls in sick. You must take Judi's shift-giving up your only day off. When making deliveries for the store, you see Judi eating lunch on Friday in a local restaurant.

Herbert Simon (cited in Certo & Certo (2014) questioned the ability of managers to make rational decisions. In his opinion, managers are not able to make perfectly rational decisions. a. Do you agree? Why/Why not? b. Secondly, it is often said that managers often make decisions without all the necessary information. Why is this so?

Using relevant examples, use your own words to explain the term participation in decision-making. Identify and discuss the different styles of participation in decision making. Discuss why you think teachers, parents and school management need to participate in educational decision-making at the school level.

Decision-Making Simulation: Create a simulation of a Diversity, Equity, and Inclusion (DEI) decision-making scenario that an organization might face. Analyze the different types of decisions and decision-making techniques that could be used to solve the problem. What are the common Diversity, Equity, and Inclusion topics trending in your field? Pick one and use in this decision-making scenario assessment. It’s important to be thoughtful and consider the sides of all involved. Be sure to refer to the APA Inclusive Language Guidelines handbook provided in your Courses Resources Lib Guide.   Scenario background: Please describe the DEI decision-making scenario for this assessment. Give an Indepth narrative background story.   Management & Organization Structure: Please describe the type of organization for this scenario.   What is the narrative background of each participant in the scenario?  What is the disagreement?  List 3 possible solutions that may benefit all…

Positive thinking is defined as a mental attitude or world view of optimism that interprets situations and events as being the best. Positive thinking has been used in various management and organizational behavior context; and the general idea is to accept positive thinking as being good. The main idea of positive thinking is that one must banish negative thoughts. Only positive thinking should be pursued and implemented. But questions arise whether this positive thinking is really beneficial. How does positive thinking would lead to sub optimal decision making process in the context of non-programmed decision making?

1. What are structured, unstructured, and semistructured decisions? Provide an example of each. Why is it important to understand the structure of decision-making when solving business problems?

D through G please

Suppose you are a manager in some leading firm / organization. The owner of the firm wants you to uplift the profit of the firm by introducing some new commodity in the market. Explain all decision making process relating to successfully introducing your commodity in the market.

Cathy is the manager of Fancy Bags, a store that sells designer purses. Cathy knows that the economy greatly affects her business. Therefore, she is developing alternative courses of action for each of the four possible economic outcomes that may occur over the next four to six years. In this situation, Cathy is following the garbage can model. generating contingency plans. engaging in satisficing. implementing a decision. making a programmed decision.

Describe a problem or decision you might face in your personal or professional life and share which decision-making method from chapter 3 of your textbook you would use to resolve it. Why is it important to ask questions when problem-solving? Why do many employers specifically seek employees who are excellent problem-solvers?

To assist in their promotions and appraisals, Mazen analyzed and graded the performance of his team members for the previous year. He is sure of his decisions, and the various outcomes, as he had all the needed information. This type of environment that is ideal for decision making is known as a(n) Uncertain environment. Risk environment. Certain environment. Threat environment.

Why are the maximax and maximin strategies considered to be optimistic and pessimistic, respectively?

Assume that alternatives A, B,C, D are considered. Alternative C is better than each of the other 3 alternatives in all the 10 attributes considered, except one, but this one C is by far the worst. Which of the decision making models below would be the mostly likely to result in aliminating alternative C? a) addictive weighting b) dominance c) satisficing d) disjunctive resolution

Choose the letter of the correct answer on each questions being asked for each case 1. If the decision maker knows nothing about the probabilities of the four states of nature, what is the recommended decision using MAXIMAX CRITERION? D1 D2 D3 D4   2. What decision alternative will he choose if using MAXIMIN CRITERION?   D1 D2 D3 D4   3. What about MINIMAX REGRET CRITERION?   D1 D2 D3 D4   4. What decision would he make if using criterion of realism at alpha 0.6 is used?    D1 D2 D3 D4

As a manager, when you are making decisions for the company, you need to consider the distinction between how the decisions will impact the company in the short term and in the long term. Describe the information needed to make these decisions. What tests can you run to help make your decisions? Justify your answer..

1- What three guidelines help management accountants provide the most value to managers? 2- Where does the management accounting function fit into an organization’s structure? 3- When is a revenue or cost item relevant for a particular decision? 4- What is an opportunity cost and why should it be included when making decisions? 5- How can conflicts arise between the decision model used by a manager and the performance evaluation model used to evaluate that manager?

Below pay-off was generated for your investment options. From this pay-off table determine the best decision using decision making under uncertainty: a.Maximax b.Maximin c.Minimax

Explain the difference between risk and ambiguity. How might decision-making differ for a risky versus an ambiguous situation in each business?

Decision making is a fundamental management function. In the light of this statement, define and explain, with examples, all the views on how managers make decisions. Answer this question in not more than 400 words