Executive Decision Making (Organisational Decisions and Executive decision…
Executive Decision Making
Business Simulation Game
Change of appetite to take risk in different situations
Group thinking Effect
Team members were not diverse enough
Balance between subjectivity and objectivity
Different Risk profiles
Change of risk attitude based on different situations
What if we dont have enough information?
More analytical rather than gut feeling
Check decision Tree Softwares
Monte Carlo simulation
A tool for simulating reality and see the range of outcomes
modelling the overall risk in terms of time and budget
Dealing with Risky Decisions
What is an effective decision Making?
Interaction of multiple decision-makers
Decison making systems
Structuring Decisions and Making Choices
Provides process - a guide to HOW?
Blend objective and subjective judgments
Systematic approach will produce better results than an intuitive process
breakdown managable elements
Model the problem :
Objectives are clear and reflect your interests
Separate ends from means
convert concerns into objectives
all of the concerns you hope to address through
. Define the problem
Why is that important?
What problem do I have to address?
Why am I makng this decision?
Tradeoffs and Multiple Objectives
Organisational Decisions and Executive decision styles
Employee involvement in decision-making