To think:
Critically aboutdecision Making
Introduction:
Decision making in short defines the act of important decisions been taken, these decisions are taken in the interests of benefiting the organization.
Explanation of Solution
Managerial decision making is done as their core job role, a managers intuition is to utilize the best possible approach to decision making by implementing the best possible solution. When a manager takes a decision they consider: the decision-making approach; if its rational or based on intuition, the nature of the problem; a clear problem or an unstructured one, the conditions of decision making: uncertainty and risks and the biasness and errors of decision making.
Furthermore, decision making involves four key managerial functions of planning, leading, controlling and organizing. These are essentially the four main functions included in a managers job role, and the decisions taken by a manager whilst considering above mentioned aspects of define the performance of the manager.
Decision making defines a manager’s performance and develops a manager’s ability to govern the tasks entrusted to them. Since a manager actively is involved within the operations, it is acknowledged for a manager to make decisions accordingly.
Want to see more full solutions like this?
Chapter 2 Solutions
MANAGEMENT W/ 2019 MYMANAGEMENTLAB
- Why is decision making often described as the essence of a manager’s job? explain it please don't copyarrow_forwardWhy is the management environment analysis important? What impact does this analysis have on decision making?arrow_forwardWhat are various steps in decision-making? Discuss each step in detail keeping in view a hypothetical business plan in mind.arrow_forward
- What are the potential benefits of collaborative planning and involving stakeholders in the decision-making process?arrow_forwardWhy is decision making often described as the essence of a manager’s job?Is there a difference between wrong decisions & bad decision?Why do good managers sometimes make wrong decision? Bad decision?How can managers improve their decision-making skills?arrow_forwardwhat do you think is the complex in decision making?arrow_forward
- Based on the topic in the picture, what are the key points there that you think are important to analyze as a decision-maker?arrow_forwardWhat 5 problems may be experienced by supervisors who are asked to share their decision-making authority for the first time with workers? Discuss each of these problems.arrow_forwardWhat are the benefits and drawbacks of centralized versus decentralized decision-making in an organization, and how can a manager determine which approach is best for their particular situation?arrow_forward
- Understanding Management (MindTap Course List)ManagementISBN:9781305502215Author:Richard L. Daft, Dorothy MarcicPublisher:Cengage Learning