Fundations of Decision Making (the decision-makig process (identification…
Fundations of Decision Making
the decision-makig process
identification of a problem
identification of decision criteria
allocation of weights to criteria
development of alternatives
analysis of alternatiaves
selection of an alternative
implementation of the alternative
evaluation of decision effectiveness
make logical and consistent choices to maximize value
managers make rational decisions, but are limited by their ability to process information
accepting solutions that are "good enough"
intuition and managerial decision making
making decisions on the basis of experience, feelings, and accumulated judgment
described as "unconscious reasoning
five aspects of intuition
subconscious mental processing
values or ethics-based decisions
types of problems
manager make decisions
types of decisions
advantages of group decisions
more complete information, diversity of experiences and perspectives, more alternatives generated, increased acceptance of a solution, increased legitimacy.
disadvantages of group decisions
time-consuming, minority domination, ambiguous responsibility, pressures to conform.
improve group decision making
nominal group technique
three important issues
creativity and design thinking
expertise, creative-thinking skills, and intrinsic task motivation
approaching management problems as designers approach design problems.