MANAGMENT 150 NOTES FOR MARCH 1 ,2019.pdf

MANAGMENT 150 NOTES FOR MARCH 1 ,2019.pdf - Sara Haridi MGT...

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Sara Haridi MGT 150 notes. March 1, 2019 Decision Making- - Programmed Decision- a simple, routine matter for which a manager has an established decision rule - Non Programmed Decision- a new, complex decision that requires a creative solution. “ What made you choose pace?” - “ Location and opportunities” - “Scholarships” - “ New york” The Decision Making Process- 1. Recognize the problem and the need for a decision 2. Identify the decision criteria 3. Allocating Weights to the Criteria 4. Develop Alternatives 5. Analyzing Alternatives 6. Selecting an Alternative 7. Implementing the Alternative 8. Evaluating Decision Effectiveness Models of Decision Making- 1. Rational Model- The decision maker uses consistent system, aware of all alternatives, and can calculate the probability of success for each alternative 2. Bounded Rationality Model- A theory that suggests that suggests that there are limits upon how rational a decision maker can be. Most likely suggest the first
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