Chapter 6 - Chapter 6 Managerial Decision Making Decision...

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Chapter 6 – Managerial Decision Making Decision Making and management o Decision making – making a choice among alternatives Underlies all managerial activities o The four decision making roles of the manager Entrepreneur Negotiator Resource allocator Disturbance handler o Opportunities and problems both call fro decision by the managers Opportunities and Problems o Both situations call for decision making o Opportunity – a situation that could benefit the organization in profitability, productivity, and growth o Problem - a situation that could reduce an organization’s effectiveness or that could disrupt operations Steps in Classical Decision Making o Define/frame the problem o Generate all possible alternatives o Evaluate all alternatives o Select the best alternative Significance of Decisions o The extent to which a manager focuses on a particular decision depends on Significance of the problem Consequences of making a particular decision o In many cases, a relationship exists between programmability and significance of a decision Excalating commitment o Managers May increasingly commit themselves to a particular decision, even though it may not have resulted in the desired results May persist with failing courses of action – they are unwilling to admit
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This note was uploaded on 11/13/2011 for the course KIN 316 taught by Professor Smith during the Spring '11 term at University of Texas at Austin.

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Chapter 6 - Chapter 6 Managerial Decision Making Decision...

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