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Chap 7: DECISION MAKING, LEARNING, CREATIVITY & ENTREPRENEURSHIP -…
Chap 7: DECISION MAKING, LEARNING, CREATIVITY & ENTREPRENEURSHIP
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Decision Making
Programmed
involves routine,
- virtually automatic decision making that follows established rules or guidelines
made so many times in the past
- managers develops ruls and guidelines
Manufacturing supervisor hires new workers
- when existing workers’ overtime increases by more than 10%
Nonprogrammed
nonroutine
- occurs in response to unusual, unpredictable opportunities and threats
no rules
- situation is unexpected or uncertain and managers lack the information they would need to develop rules to respond to it
Intituition
Feelings, beliefs, and hunches that come readily to mind, require little effort and information gathering, and result in on-the-spot decisions
Reason Judgement
requires time and effort and results from careful information gathering, generation of alternatives, and evaluation of alternatives
Model
Classical
prescriptive approach
Based on assumption
- maker can identify and evaluate all possible alternatives and their consequences and rationally choose the most appropriate course of action
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Administrative
explains why decision making is inherently uncertain and risky and why managers usually make satisfactory rather than optimum decisions
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