Mba Level Decision Making : Tools For Managerial Decisions

Managers within organizations are faced with the challenges daily of making excellent decisions. In everyday life we are challenged in making sound decision, decision that will last for a life time. Folk often wonder after making a decision if it was the right choice, will it affect the people around me, was this a good choice for my family, and will the decision affect them. In order to be an effective manager you have to possess the skill of outstanding decision making skills. In order for one to be successful within their personal life they may also need to possess an understanding of effective decision making. The decision- making process should be one that makes a positive change. Can the decision making process work

Decision-making in the workforce is a process of responsibilities used by upper management to implement, enforce rules, regulations, and maintain a successful environment. Decision-making implemented more effectively by making a plan, thinking it through, accepting more than one opinion and determining what is best. However, decision-making often utilized more effectively by opening doors of opportunities for a suggestion, question, discussion, and feedback. Although, more involvement helps improve understanding, utilize behavior skills and present opportunities for better communication. Everyday life consists of decision-making, the right decision may not always be applied, but ensure room for improvement and opportunity. Individuals approached decision-making in many different ways. As stated by (Jones, Graham, & Bateman, 2006) decision making is a procedure used to recognize a problem, weigh the alternatives and evaluate a solution in which, certain situations will require different approaches to become effective.

Top-level executives and key managers are at the helm of the decision-making process with the focal point being selecting the best choice. Selecting the best choices or alternative of choices derive from assessments, interviews, surveys and audits that evaluates the strategic position of the selected choices. Consequently, the chief executive officer at some point should show how the middle-managers, front-line managers, employees and client fit into the decision-making process.

Challenges are presented to people on the daily basis. What to eat, drink, where they have to go, who they need to see, and etc... These things all impact the decision making process and the decisions made. In financial decision making, highly successful people do not make investment decisions based on past sunk outcomes, rather by examining choices with no regard for past experiences; this approach conflicts with what one may expect. In addition to past experiences, there are several cognitive biases that influence decision making.

As we make decision throughout our day, for most of us we make a lot of decisions within the workplace. Those who are in leadership roles make decisions within the organization such as determining organizational goals, missions, visions, and other decisions that can greatly affect the organization either in a positive or negative way. According to Robins and Judge everyone play in the role of decision making in the workplace. “Non-managerial employees also make decisions that affect their jobs and the organizations for which they work. They decide whether to come to work on any given day, how much effort to put forth at work, and whether to comply with a request made by the boss” (Robins & Judge 2009, p. 147). These particular decisions that non-managerial employees make can affect the workplace in numerous of ways such as impacting views and decisions of other employees, impacted the set atmosphere in the workplace as well as impacting

Depending on your undergraduate studies there may be no requirement for a managerial-decision class, “if” not no one is required to provide it. Real-time and unfortunately being honest, competencies can be built by proficiency skills or skillset and learning on the job. Decision making skills can also be broken down into: basic, intermediate, advanced or expert. However, the bottom line is accountability and responsibility for whatever decision you undertake.

They are open ended question, closed question and partially categorized questions. Open ended questions allow the participants to add and give their own perspective and view more than they have been asked to say. Closed question only takes such answer that they were asked. Finally, partially categorized questions are those questions that sometimes allow personnel view and opinions and sometimes not (University of Michigan, 2010).

MBA level of thinking is the ability to think more deeply about business administration concepts and techniques, as well as applying them to an organization structure. In the Business Administration program, I learned the foundational concepts of organizational change, critical thinking and teambuilding lays the foundation for MBA thinking. Critical thinking in order to ensure a business maintains an effect competitive advantage by engaging behavioral model skills: questioning, observing, networking, and experimenting. This helps to determine: timelines, appropriate vendor selection, make best for the organization, asses the organization to current resources to determine human capital, and project risk what are the potential impacts and/ or effects (Klein,2004). In addition, within the critical thinking phase this will also determine if organizational change is necessary. Furthermore, decision making can play a crucial role to organizational change; however, analyzing the findings of the

Decision-making is the act of choosing one alternative from among the set of alternatives. The decision-making process is recognising and defining the nature of decision situation, identifying alternatives, choosing the best alternative, and putting it into practice. (Griffin R, 2012). Decision making process also helps businesses allocate scarce resources by individuals or groups to achieve goals under conditions of uncertainty and risk. Sometimes, groups choose better decisions than individuals. It is important to realise that effectiveness of decision is different than ease of decision. Once goal has been established, managers could adopt the classical model or the rational decision making model. There is also a risk of uncertainty which states that the manager does not know all the possible alternatives and their possible consequences. In this issue, rational decision making is used.

In every corporation the crux of a manager’s charisma is his decision making prowess. Though there is an abundance of scientific theories and myths related to decision making, generally decisions are made in a highly rationalized context.

The focus of my term paper is the decision making process used by today's top-level managers. Top-level managers, such as Chief Executive Officers (CEOs), Chief Operations Officers (COOs), and Chief Financial Officers (CFOs), must make critical decisions on a daily basis. Their choices and the resulting outcomes affect the company, the employees, and the stakeholders. Due to the high importance of their decisions, the process they use to reach them merits a close examination.

Decision making is another big quality to have as a manager. Making good decisions and informed decisions could mean the difference between life or death in a company. According to Grove, "Making decisions is an important and essential part of every manager 's work from one day to the next." (Grove 88)

Decision making is the process of identifying opportunities from available alternatives such as the establishment of an appropriate control of risk management framework, as well as reviewing, monitoring, and ensuring its adequacy and integrity. In many cases, financial decisions such as the purchase of equipment and other assets must be made or approved by top management. Those decisions, along with the strategy and long-term objectives in all matters of the operations, affect the long-term future and overall success of the company. If the employees don't have enough resources and equipment to complete their jobs, the output will decrease and the company's achievement suffers (Frost, n.d.). Therefore, it’s the CEO’s role to decide what achievements the organization wants to reach and how the company will grow going

The degree certificate hanging on the wall at the end of the programme is no more than a sheet of paper. What is important that comes out of the MBA is what is in student mind. The important benefits of the MBA include not just the knowledge that one absorbs while on the programme, but the necessary learning skills that accompany this. The two are combined in a single system referred as knowledge management. It is argued that the MBA is a first step in a process of lifelong learning, and this is a formulative learning experience. The ideas and skills gained here will affect the students personal and professional life forever after. Many candidates go into an MBA program seeking a career change. During recruitment season they find that their skills are fairly valued only by businesses in the industry that they wanted to leave

Mohamad Sidani showed us the practical side of what we learnt in the course regarding decision making. For example, while studying, we learn the concepts in a general manner. However, the challenge is in applying them to each circumstance we face. As he explained, the process of taking a decision follows the same concept we have learnt, however; not word by word. It is more spontaneous and to him it’s very important to take his time, when possible, to study the different alternatives and their possible outcomes. In addition, he weighs the possible benefits against the risk of each option. After making up his mind, he keeps the decision to himself and makes sure it’s the best solution before announcing and implementing it. He admits that intuition is one of the factors he bases his decisions on and sum up to 20%. However, it’s not enough if it’s not backed up by something