MHR301_Ch7 - Chapter 7 The Manager as a Decision Maker...

Info iconThis preview shows pages 1–9. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Chapter 7 The Manager as a Decision Maker Leanne Powers MHR301 From McGraw-Hill Irwin Contemporary Management The Nature of Managerial Decision Making Decision Making The process by which managers respond to opportunities and threats by analyzing options, and making decisions about goals and courses of action. Decisions in response to opportunities Decisions in response to threats Programmed Decisions Routine, virtually automatic decision making that follows established rules or guidelines. Managers have made the same decision many times before There are rules or guidelines to follow based on experience with past decisions Little ambiguity involved Non-Programmed Decisions Nonroutine decision making that occurs in response to unusual, unpredictable opportunities and threats. The are no rules to follow since the decision is new. Decisions are made based on information, and a managers intuition, and judgment. Decision Making Intuition feelings, beliefs, and hunches that come readily to mind, require little effort and information gathering and result in on-the-spot decisions Reasoned judgment decisions that take time and effort to make and result from careful information gathering, generation of alternatives, and evaluation of alternatives The Classical Model A prescriptive model of decision making The Administrative Model Decision-making under risk and uncertainty The Administrative Model...
View Full Document

Page1 / 24

MHR301_Ch7 - Chapter 7 The Manager as a Decision Maker...

This preview shows document pages 1 - 9. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online