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Decision Making

Business

TermDefinition
Autocratic Makes decisions on their own (without consulting others) Maintains strict control over those below them
Autocratic Advantages Fast decision making Clear direction Useful in a crisis
Autocratic Disadvantages Low morale Lack of creativity High dependency on leader
Laissez-fair Gives minimal direction Trusts those beneath them to make decisions for themselves
Laissez-fair Advantages Encourages innovation High autonomy Motivates self-driven employees
Laissez-fair Disadvantages Lack of direction Can lead to chaos Poor performance if team lacks discipline
Paternalistic Cares and nurtures the team and makes decisions on behalf of them Expects loyalty in return
Paternalistic Advantages High loyalty Clear structure Employees feel cared for
Paternalistic Disadvantages Limits employee initiative May seem patronising Can lead to dependency
Democratic Encourages team members to discuss and debate decisions that have to be made promotes shared accountability
Democratic Advantages Encourages collaboration High morale Develops team skills
Democratic Disadvantages Time-consuming Risk of conflict Slow decision-making
Bureaucratic Strictly follows rules and promotes consistency and a stable structure
Bureaucratic Advantages Clear structure Consistency and fairness Ideal for routine tasks
Bureaucratic Disadvantages Inflexible Low creativity Slows innovation and adaption
McGregor X Managers believe workers are lazy and need close supervision
McGregor Y Managers believe workers are self-motivated and as such can solve problems
What may influence the choice of leadership style Company structure The group size The personalities and skills of the leader The employees themselves
Benefits of Scientific Decision making Remove bias Reduced risk Based on research More people are involved Clear direction
Drawbacks of Scientific Decision making Time Consuming Cost of Process
Oppertunity cost Cost in terms of opportunity missed/not taken
Decision tree benefits Easy to understand complex information Data used to inform decisions Forces the consideration of all options
Decision tree limitations Does not consider Qualitative data Only probabilities
Created by: user-2055800
 

 



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