Chapter 1 - Harrison

Chapter 1 - Harrison - Definitions Harrison only Concept...

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Definitions _ Harrison only Page 1 Concept Decision Managerial decision making Decision theory Scope of decision making Metaorganizations Stakeholders Organization World Category I Category II Organizational myopia Opportunity cost Interdisciplinary perspective Simplified-sequential-elimination- process Adaptive problem-solving behavior Integrative decision making (principle)
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Definitions _ Harrison only Page 2 Interlocking perspective Bounded rationality Interrelational perspective (principle)
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Page 3 Definition Four levels where decision making occurs: 1) individual, 2) group, 3) organization, and 4) metaorganization Larger aggregates in the decision making scope (e.g., enterprise, societies, and nation-states) A total enterprise or institution A sum of metaorganizations. ;-) The cost of anything is the value of the best alternative, or the opportunity, that is sacrificed Decision making is a process that pervades all of the managerial functions "A moment in an ongoing process of evaluating alternatives for meeting an objective, at which expectations about a particular course of action impel the decision maker to select that course of action most likely to result in attaining the objective" School of thought that believes that the central focus of management is on decision making. Managerial values and behavior attain managerial objectives and fulfill the organization purposes. A relative young discipline that includes operations research, statistical analysis, computer programming, behavioral sciences (sociology, psychology, social psychology) Any person, group, or organization that can place a claim on an organization's attention, resources, or output, or is affected by that output A four-step process individuals use when making choices: 1. Alternatives are viewed as aspects 2. At each stage of choice, one aspect is selected and others probabilistically eliminated (more important aspects are considered earlier) 3. Alternatives/aspects that fail to meet an aspiration level are eliminated 4. Repeat 2 and 3 until only one alternative is left Refers to individuals: 1. Start with tentative solution 2. Search for information 3. Modify the initial solution 4. Seek for balance between expected and realized results Routine, recurring decisions that are handled with a high degree of certainty. Made at the operating management level. Non-routine, nonrecurring decisions characterized by uncertainty as to the outcome. Requires judgement and creativity. Made at the top and middle management levels. When top executives concentrate on Category I decisions and neglect long-term objectives and strategies. There is a disregard for long-range planning and an undue emphasis on short-range control. The blending of behavioral sciences and quantitative disciplines that embodies the eclectic nature of effective
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This note was uploaded on 03/30/2010 for the course MET AD 715 taught by Professor Cleary during the Spring '09 term at BU.

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Chapter 1 - Harrison - Definitions Harrison only Concept...

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