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MGMT 6
chapta 6 auf understanding MGMT
| Question | Answer |
|---|---|
| decision | choice made from available alternatives |
| decision making | the process of identifying problems and oppurtunaties and then resolving them. |
| programmed decisions | -rules developed from frequent occurances -response to re-occuring problems |
| non-programmed decisions | -unique, poorly defined, and unstructured - important consequences |
| certainty | all info is available |
| risk | -decision has clear goals -info is available -future outcomes are subject to chance |
| uncertainty | -managers know which goals they need to achieve -info is incomplete -may need to develop creative alternatives |
| ambiguity | - goals or problems are unclear - alternatives are difficult to define - info about outcomes are unavailable |
| classical decision making model | - operates to accomplish goals that are known or agreed upon - strives for condition of certainty - criteria for alternatives are known - decision maker is rational and uses logic |
| bounded rationality (administrative model) | - people have limits or boundaries on how rational they can be |
| satisficing (administrative model) | - means that decision makers choose the first solution alternative that satisfies minimal decision criteria |
| Administrative model | -decision goals are often vague, conflicting, and lack consensus among managers - rational procedures are not always used - manager's searches for alternatives are limited - managers settle for sitisficing rather then a maximizing solution |
| political model | - closely resembles real enironment in which managers operate - useful in making non-programmed decisions - decisions are complex and involve people and information - disagreement and conflict over problems and solutions are normal |
| classical model encompasses ______ | certainty |
| administrative model encompasses ______ | risk or uncertainty |
| political model encompasses _______ | uncertainty or ambiguity |
| first step of decision making process: | recognition of decision making requirement |
| second step of decision making process: | diagnosis and analysis of cause |
| third step of decision making process: | development of alternatives |
| fourth step of decision making process | selection of desired alternative |
| fifth step of decision makign process: | implementation of chosen alternative |
| sixth step of decision making process: | evaluation and feedback |
| diagnosis | analyze underlying causal fators (explore cause of the problem) |
| risk propensity | willingness to undertake risk with the opportunity of gaining an increased payoff |
| implement alternative | using managerial, administrative, and persuasive abilities to translate alternative into action. |
| evaluation and feedback | how well was the decision implemented? was it effective in achieving the goal? |
| directive style | - people who prefer simple, clear cut solutions to problems - make decisions quickly - may consider only one or two alternatives - efficent and rational - prefer rules or procedures |
| analytical style | complex solutions based on as much data as they can gather - caefully consider alternatives - base decisions on objective, trational data -search for the best possible decision based on the info available |
| conceptual style | - more socially oriented - consider others about the problem and possible solution - consider many broad alternatives and information - rely on information from people and systems - solve problems creatively |
| Behavioral style | deep concern for others - talk to people one-on-one - understand individual feelings about the problem and possible effects - concerned with the personal development of others - decisions to help others achieve their goals |
| vroom-jago model | helps gauge the appropriate amount of participation for subordinates in process |
| leader participation styles | five levels of subordinate participation in decision making |
| vroom-jago diagnostic questions | -decision significance -importance of commitment -leader expertise -lilelyhood of commitment -group support of goals -group expertise -team competence |
| new decision approaches for turbulent times | - brainstorming - know when to bail - learn, dont punish - engage in rigorous debate |
| info tech has changed: | boundaries - people do better work - things are efficent -employers are engaged |
| data | raw facts |
| information | meaningful, useful |
| power has shifted to individuals | blogs |
| social networking | facebook myspace friendster |
| operations info | supports day-to-day operations - transaction processing systems process transactions |
| MGMT info | - info and support for decision making |
| e-business | electronic business exchanges and transactions or any digital process |
| intranet | internal communications system that uses the technology of the internet |
| extranet | an external communications system shared by organizations hat uses internet technology |
| electronic data interchange | networks that link computers to buyers and sellers for ordering, distribution, payables, and receivables |
| E-business strategy: market expansion and revenue growth. what are benefits? | -add new markets - integrate bricks and clicks - increase market size |
| E-business strategy: increased productivity and cost efficency. benefits? | immediate short term effects - measurable productivity impact - driven by internal processes |
| e-marketplaces | most companies position their websites for the international marketplaces |
| how are companies using technology to manage knowlwdge? | corporate intranets - business intelligence software - networks |
| how do companies manage knowlwdge about customers? | with customer relationship management (CRM) software |
Created by:
tonedef543