Homework 6

 Homework 6th Essay

Gubaton, Michelle C. February 21, 2015

MGT141 | AY01 Thursday

Synopsis of part 12

Decision - choice made from readily available alternatives

Decision making - technique of identifying challenges and chances and solving them Types of decisions:

1 . Programmed decisions - Scenarios occurred typically enough to allow decision rules to be produced and applied in the future 2 . Nonprogrammed decisions - in answer to exceptional, poorly defined and largely unstructured, and also have important implications to the corporation Certainty - all the information your decision maker requirements is fully available Risk - upcoming outcomes connected with each alternative are be subject to chance Uncertainty - managers may have to develop creative methods to alternatives Unconformity - the most difficult decision situation

Three decision-making decisions

1 . Classical model

Assumptions - Decision maker works to accomplish desired goals that are regarded and decided Normative - describes how a manager should certainly and provides recommendations for getting an ideal decision 2 . Management model

Bordered rationality -- people have limits or limitations on how rational they can be Satisficing - implies that decision makers choose the initially solution alternate that fulfills minimal decision criteria Detailed - how managers make decisions--not how they should 3. Political model

Coalition - informal connections among handles who support a specific goal Six stages in the managerial decision-making process

1 . Identification of decision requirement

2 . Diagnosis and analysis of causes

three or more. Development of alternatives

4. Collection of desired alternatives

5. Setup of picked alternatives

6. Evaluation and feedback

Prognosis - analyze underlying origin factors associated with the decision circumstance Selection of desired alternatives:

1 ) Risk tendency - motivation to undertake risk with the chance of attaining an increased benefit 2 ....

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