Chapter 9 gives an overview of managerial decision making with an expanded discussion of how confl icting interests among managers can create uncertainty regarding decisions. A new section on why managers often make bad decisions looks at the biases that can cloud judgment. The chapter also includes a new section on innovative group decision making and the dangers of groupthink. | Managerial Decision Making Chapter 9 Managerial Decision Making Decision making is not easy It must be done amid ever-changing factors unclear information conflicting points of view Manager’s Challenge: Tupperware Managerial Decision Making Decision Characteristics Decision-making Models Steps Executives Take Making Important Decisions Participative Decision Making Techniques for Improving Decision Making in Today’s Organizations Topics Chapter 9 Decisions and Decision Making Decision = choice made from available alternatives Decision Making = process of identifying problems and opportunities and resolving them Categories of Decisions Programmed Decisions Situations occurred often enough to enable decision rules to be developed and applied in the future Made in response to recurring organizational problems Nonprogrammed Decisions – in response to unique, poorly defined and largely unstructured, and have important consequences to the organization Ethical Dilemma: The . | Managerial Decision Making Chapter 9 Managerial Decision Making Decision making is not easy It must be done amid ever-changing factors unclear information conflicting points of view Manager’s Challenge: Tupperware Managerial Decision Making Decision Characteristics Decision-making Models Steps Executives Take Making Important Decisions Participative Decision Making Techniques for Improving Decision Making in Today’s Organizations Topics Chapter 9 Decisions and Decision Making Decision = choice made from available alternatives Decision Making = process of identifying problems and opportunities and resolving them Categories of Decisions Programmed Decisions Situations occurred often enough to enable decision rules to be developed and applied in the future Made in response to recurring organizational problems Nonprogrammed Decisions – in response to unique, poorly defined and largely unstructured, and have important consequences to the organization Ethical Dilemma: The No-Show Consultant Decisions and Decision Making Many decisions that managers deal with every day involve at least some degree of uncertainty and require nonprogrammed decision making May be difficult to make Made amid changing factors Information may be unclear May have to deal with conflicting points of view Certainty, Risk, Uncertainty, Ambiguity Certainty all the information the decision maker needs is fully available Risk decision has clear-cut goals good information is available future outcomes associated with each alternative are subject to chance Uncertainty managers know which goals they wish to achieve information about alternatives and future events is incomplete managers may have to come up with creative approaches to alternatives Ambiguity by far the most difficult decision situation goals to be achieved or the problem to be solved is unclear alternatives are difficult to define information about outcomes is unavailable Conditions that Affect the Possibility of .
