Decision making is a fundamental management function. In the light of this statement, define and explain including all the 3 approach of decision making (rational, behaviour and practical), with examples, all the views on how managers make decisions. Explain with Examples.
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Decision making is a fundamental management function. In the light of this statement, define and explain including all the 3 approach of decision making (rational, behaviour and practical), with examples, all the views on how managers make decisions. Explain with Examples.
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- List and describe at least three barriers to effective decision-making.Decision making is a fundamental management function. In the light of this statement, define and explain, with examples, all the views on how managers make decisions.Explain the steps of decision-making process using an example. What is the difference between rational decision making, bounded rationality and intuitive decision making?
- Discuss the different roles played by the qualititative and quantitiative approaches to managrial decision making. Why it is important for a manager or decision maker to have a good understanding of both of these approaches to decision making?Miriam and Devon are both upper-level managers, but have very different decision-making styles. Please name and describe in your own words four decision making processes that could be used to guide their decision making. In addition, provide and explain in your own words 10 ways in which their decision could, in general, be derailed or hindered, and explain each.Briefly explain the different types of decision making environments. Give any one suitable method used to takedecision under each of the above mentioned different environments.
- Managers make decisions, and the processes they use in decision making will determine their relative effectiveness. Describe some of the various processes, their merits, and uses. Define decision making and discus the different types of decision.1. What are structured, unstructured, and semistructured decisions? Provide an example of each. Why is it important to understand the structure of decision-making when solving business problems?
- What are the steps of effective decision making? Is there a difference between wrong decisions and bad decisions? Why do good managers sometimes make wrong decisions? Bad decisions? How can managers improve their decision making skills?Discuss FOUR (4) ethical questions that a manager should ask when evaluating a proposed action to make decision.Why does it make sense to discuss several different models of decision making?