chapta 6 auf understanding MGMT
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| decision | choice made from available alternatives
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| decision making | the process of identifying problems and oppurtunaties and then resolving them.
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| programmed decisions | -rules developed from frequent occurances
-response to re-occuring problems
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| non-programmed decisions | -unique, poorly defined, and unstructured
- important consequences
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| certainty | all info is available
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| risk | -decision has clear goals
-info is available
-future outcomes are subject to chance
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| uncertainty | -managers know which goals they need to achieve
-info is incomplete
-may need to develop creative alternatives
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| ambiguity | - goals or problems are unclear
- alternatives are difficult to define
- info about outcomes are unavailable
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| 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
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| bounded rationality (administrative model) | - people have limits or boundaries on how rational they can be
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| satisficing (administrative model) | - means that decision makers choose the first solution alternative that satisfies minimal decision criteria
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| 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
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| 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
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| classical model encompasses ______ | certainty
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| administrative model encompasses ______ | risk or uncertainty
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| political model encompasses _______ | uncertainty or ambiguity
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| first step of decision making process: | recognition of decision making requirement
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| second step of decision making process: | diagnosis and analysis of cause
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| third step of decision making process: | development of alternatives
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| fourth step of decision making process | selection of desired alternative
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| fifth step of decision makign process: | implementation of chosen alternative
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| sixth step of decision making process: | evaluation and feedback
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| diagnosis | analyze underlying causal fators (explore cause of the problem)
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| risk propensity | willingness to undertake risk with the opportunity of gaining an increased payoff
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| implement alternative | using managerial, administrative, and persuasive abilities to translate alternative into action.
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| evaluation and feedback | how well was the decision implemented? was it effective in achieving the goal?
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| 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
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| 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
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| 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
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| 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
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| vroom-jago model | helps gauge the appropriate amount of participation for subordinates in process
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| leader participation styles | five levels of subordinate participation in decision making
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| vroom-jago diagnostic questions | -decision significance
-importance of commitment
-leader expertise
-lilelyhood of commitment
-group support of goals
-group expertise
-team competence
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| new decision approaches for turbulent times | - brainstorming
- know when to bail
- learn, dont punish
- engage in rigorous debate
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| info tech has changed: | boundaries
- people do better work
- things are efficent
-employers are engaged
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| data | raw facts
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| information | meaningful, useful
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| power has shifted to individuals | blogs
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| social networking | facebook
myspace
friendster
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| operations info | supports day-to-day operations
- transaction processing systems process transactions
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| MGMT info | - info and support for decision making
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| e-business | electronic business exchanges and transactions or any digital process
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| intranet | internal communications system that uses the technology of the internet
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| extranet | an external communications system shared by organizations hat uses internet technology
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| electronic data interchange | networks that link computers to buyers and sellers for ordering, distribution, payables, and receivables
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| E-business strategy: market expansion and revenue growth. what are benefits? | -add new markets
- integrate bricks and clicks
- increase market size
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| E-business strategy: increased productivity and cost efficency. benefits? | immediate short term effects
- measurable productivity impact
- driven by internal processes
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| e-marketplaces | most companies position their websites for the international marketplaces
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| how are companies using technology to manage knowlwdge? | corporate intranets
- business intelligence software
- networks
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| how do companies manage knowlwdge about customers? | with customer relationship management (CRM) software
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