Lec+5+-+Managerial+Decision+Making+2+_Compatibility+Mode_

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3-1 Lec 5: Managerial Decision Making (2) MGMT 142 Principles of Management Dr Faiza Ali
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3-2 ‘I invented nothing new. I simply assembled into car the discoveries of other men behind whom were centuries of work’ Henry Ford
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3-3 Decision Making in Groups The basic philosophy for group decision making is that ‘two heads are better than one’ Group performance is a function of two variables How effectively the group capitalizes on potential advantages How effectively the group minimizes potential problems
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3-4 Advantages of Group Decision Making More background knowledge More alternatives generated More understanding of the decision More support for decision Helps fulfill social needs
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3-5 Disadvantages of Group Decision Making Time consuming, inefficient Ineffective compromise decisions Lack of clear responsibility Groupthink , social pressure, conflict
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3-6 Conditions for Groupthink Team leader’s opinion is known Team is highly cohesive Team is isolated from outside influences Team has recent decision failures
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