Management, 13Th Edition
13th Edition
ISBN: 9780133910292
Author: Stephen P. Robbins & Mary A. Coulter
Publisher: PEARSON
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Question
Chapter 2, Problem 8RDQ
Summary Introduction
To determine:
Difference between wrong and bad decisions. Reason for wrong and bad decisions by good managers and its improvement.
Introduction:
Wrong decisions are those which are inconsistent and illogical in the company’s profile. They are inevitable in the professional front.
Bad decisions are those which managers make by not keeping all the important points in mind.
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Students have asked these similar questions
"Because managers have so many powerful decision-making tools to use, they should be able to make more rational decisions" Do you agree with this statement?
What are the key elements of effective decision-making, and how can managers develop the skills required to make sound decisions in a wide range of contexts?
How do managers make decisions, and what factors influence their decision-making process? How can managers improve their decision-making skills?
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- What are the steps in the decision-making process? Which ones do people tend to skip or spend insufficient time on?arrow_forwardWrite a paper that addresses the following points: Identify at least one bias that impacts your decision making process. Discuss what triggered this particular bias and what steps you plan to take it to address it. Discuss how this bias impacted your decision. How confident do you feel about your decision making processes in general? Do you suffer from the "overconfidence" syndrome? If so, under what circumstances?arrow_forwardHow can a manager improve the quality of her individual decision-making?arrow_forward
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- How individuals in the organization make decisions are largely influenced by their perceptions. The optimizing decision maker is rational. Rational decision-making model describes how individuals should behave in order to maximize some outcome. Let’s talk about a self-created example / scenario. After completion of your BBA program, you intend to take a decision regarding admission in MBA or MS Program in any university. QUESTION: Apply the RATIONAL DECISION MAKING MODEL and step by step elaborate how will you make sure to optimize your decision with maximum outcome. In other words, elaborate in 6 steps how will you make sure to take a rational decision with maximum outcome.arrow_forwardCan you explain the decision-making process with an example?arrow_forwardExplain rational decision-making, and briefly discuss the six steps needed to achieve rational decision-making.arrow_forward
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