Oct 18 The Manager as a Decision Maker

Oct 18 The Manager as a Decision Maker - The Manager as a...

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The Manager as a Decision Maker What is Decision Making? A process by which a choice made between two or more alternatives 4 elements in decisions making 1. An Objective 2. The Alternative 3. The Consequences 4. The Choice Types of Decision Making Programmed Decisions : routine, almost automatic Non-programmed Decisions : unusual situations that have not been often addressed Who are the Decision Makers? First level managers (technical decisions) Middle level managers (managerial decisions) Top level managers (institutional decisions) Conditions Affecting Managerial Decisions Certainty Risk Uncertainty Conditions of Certainty Very rare in today’s world that the manager knows exactly what will happen Conditions of Risk The use of probabilities so that the outcome can be estimated Conditions of Uncertainty Alternatives are not known so probabilities can’t be assigned Decision Making Steps 1. Recognize the need for a decision : managers must first realize a decision must be
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This note was uploaded on 12/08/2009 for the course TEFLER ADM1300 taught by Professor Koppel during the Fall '09 term at University of Ottawa.

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Oct 18 The Manager as a Decision Maker - The Manager as a...

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