Real Options & Game Theory: Group Decisions You are invited to observe this month’s meeting of the managers of a hospital, which will take place in the senior manager’s office. The main item on the agenda relates to the issue of whether a particular ward should be temporarily closed because of funding problems. Before the meeting the senior manager tells you that the hospital management prides itself on efficient decision making. ‘My staff and I work as a coherent team,’ he tells you. ‘We are busy people so at our meetings we don’t waste time on endless discussion. There is usually little dissent and we make decisions quickly and with confidence that what we are doing is right. I think that you’ll see that my colleagues will agree with me that the closure should go ahead.’ Question: Draft a set of notes evaluating the senior manager’s approach to decision making and, if necessary, suggest ways in which the decision-making process at the hospital might be improved.
Real Options &
You are invited to observe this month’s meeting of the managers of a hospital, which will take place in the senior manager’s office. The main item on the agenda relates to the issue of whether a particular ward should be temporarily closed because of funding problems. Before the meeting the senior manager tells you that the hospital management prides itself on efficient decision making.
‘My staff and I work as a coherent team,’ he tells you. ‘We are busy people so at our meetings we don’t waste time on endless discussion. There is usually little dissent and we make decisions quickly and with confidence that what we are doing is right. I think that you’ll see that my colleagues will agree with me that the closure should go ahead.’
Question: Draft a set of notes evaluating the senior manager’s approach to decision making and, if necessary, suggest ways in which the decision-making process at the hospital might be improved.
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