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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
rational model
make logical and consistent choices to maximize value
bounded rationality
managers make rational decisions, but are limited by their ability to process information
satisfice
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
experience-based decisions
affect-initiated decisions
cognitive-based decisions
types of problems
unstructured problems
structured problems
manager make decisions
procedures
rules
policies
types of decisions
nonprogrammed decisions
programmed decisions
organizational level
top
lower
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
brainstorming
nominal group technique
electronic meeting
three important issues
national culture
creativity and design thinking
expertise, creative-thinking skills, and intrinsic task motivation
approaching management problems as designers approach design problems.
big data