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Ch6 - Chapter 6 Top-level managers make decisions about...

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Chapter 6 Top-level managers: make decisions about their organization’s goals, where to located manufacturing facilities, what new markets to move into, and what products or services to offer Middle- and lower-managers: make decisions about production schedules, quality problems, pay raises and employee discipline All organizational members: make decisions that affect their jobs and the organization they work for Decision-Making process: o Identifying a problem: subjective because what one manager considers a problem might not be considered a problem by another manager; be cautious not to confuse problems with their symptoms Be aware of problems, be under pressure to act and have the resources necessary to take actions o Identifying decision criteria o Allocating weights to the criteria If the relevant criteria aren’t equally important, the decision make must rank the items in order to give them correct priority in the decision o Developing alternatives o Analyzing alternative A decision maker must evaluate alternatives against previously established criteria so the strengths and weaknesses of each become evident o Selecting an alternative o Implementing the alternative Putting the decision into action by conveying the decision to those affected by it and getting their commitment to it o Evaluating decision effectiveness Decision making: part of all four managerial functions, and thus is the essence of management Decision makers: managers when they plan, organize, lead, and control Three perspectives on how decisions are made: rationality, bounded rationality, and intuition o Rational: fully objective and logical; the problem would be clear and unambiguous and the decision maker would have a clear and specific goal and know all possible alternatives and consequences o Five different aspects of intuition (p. 164) Programmed decision: because the problem is structured, the manager
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