Please enable JavaScript.
Coggle requires JavaScript to display documents.
2 - Managers, leadership and decision-making (Influences on decision…
2 - Managers, leadership and decision-making
What managers do
-
Summed up in four key tasks, the role of a manager is they plan, organise, direct and control.
Make decisions, set objectives, leading, analysing, reviewing.
-
-
-
Opportunity cost
-
Business resources, particularly finance, are limited and as a result a business won't be able to undertake everything it intends to, and so has to make a choice.
Intuition
-
For innovative products, it may be impossible to judge consumer reaction if they have never seen the product.
-
-
-
-
Stakeholder mapping
Stakeholder analysis and management is important in decision-making. Follow the above link to see the matric that Mendelow drew up.
-
In this, stakeholders are categorised according to their power and level of interest. Those high in power and interest are key players, and they need to be kept happy.
Those low in power and interest require minimal effort, perhaps just keeping them up to date.
-
-
-