Explain the difference between managerial decision making and strategic decision making? Provide an example of a time when a manager's good decision was not an effective strategic decision.© BrainMass Inc. brainmass.com October 25, 2018, 12:04 am ad1c9bdddf
The response address the queries posted in 539 words with references.
//Before writing about the managerial decision making and Strategic Decision Making, it is essential to have knowledge about the main aspects of 'Decision Making'. One should know about the process of decision making, which further will assist in analyzing the decision masking process in an effective manner.//
Decision making is a process of selecting a course of action among a number of alternatives. In other words, Decision making is a process of identifying and selecting the most appropriate alternative and decreasing uncertainty of irrational decision making (Luthans, 1998). Proper decision making enhances the probability of success and it should fulfill the organizational goals and objectives. There are a number of factors that affect the process of decision making such as organizational culture, goals, objectives, vision, mission, personal values & beliefs, etc.
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The response addresses the queries posted in 376 Words, APA References
Decision Making Process: Individual Vs Group
(Scenario) The CEO of your company has been extremely frustrated with what has been occurring within the organization lately. In a recent managers meeting he exclaimed,
"Everyone around this place just follows the status quo. No one ever has any unique ideas on how we can make this organization better. You just sit here and wait for me to give you directions on what to do. Then you follow those directions word-for-word without asking any questions or making any improvements. We need to change this attitude and change it quickly."
He then pointed out each of your group members stated, "I'm assigning you all to a working group. Your goal is to help me fix this problem. I want you to work together, do some research, and come up with concrete ideas and suggestions to fix this problem."
Your group must do analysis, have discussions (either via the small group chat or discussion board) and come to a consensus to prepare a report (paper) that addresses the following:
Part 1 - Define the term "group" after discussion with your fellow team members. Avoid repeating a dictionary definition. For this scenario what would constitute a "group"?
Part 2 - Are there any differences in how individuals and groups make decisions? If so what are they?
Part 3 - Identify the applicable decision concepts (theories, principles, paradoxes, etc.) from our learning all semester (not just the group decision concepts identified in Unit 5) that your group believes will best explain what is occurring within the organization. Be sure your group provides rational to support each of the concepts your group identifies.
Study Material The Psychology of Judgment and Decision making(Plous) Chapter 17-18 and earlier theories and thoughts concerning Decision Making concepts.
Part 4 - Identify at least three (3) recommendations (from your group to the CEO) that will help him improve or overcome the current decision making conditions within the organization.
thank you for your insight and professional thoughts.
very important group assignment. Best Regards