Chapter 3 - Managers as decision makers: There is no substitute for a good decision. After reading this chapter, you should be able to answer the following questions: How do managers use information to solve problems? What are the five steps in the decision-making process? What are current issues in managerial decision making? | Chapter 3 Managers as Decision Makers Exploring Management Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 3-1 Chapter 3 “Estamos bien en el réfugio – los 33.” For 69 days shift leader Luis Urzua kept the men trapped in the Chilean mine organized and hopeful. On the 70th day, he was the last man safely out. Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 3-2 2 Learning Objectives Chapter 3 How do managers use information to solve problems? () What are the five steps in the decision-making process? () What are current issues in managerial decision making? () Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 3-3 3 USING INFORMATION TO SOLVE PROBLEMS Takeaway – answers to come Managers use technological, informational, and analytical competencies to solve problems. Managers deal with problems posing threats and offering opportunities. Managers can be problem avoiders, problem solvers, or problem seekers. Managers make programmed and non-programmed decisions. Managers use both systematic and intuitive thinking. Managers use different cognitive styles to process information for decision making. Managers make decisions under conditions of certainty, risk, and uncertainty. Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 3-3 4 USING INFORMATION TO Solve Problems Problems Pose Threats and Opportunities Problem Solving Identifying and taking action to solve problems Knowledge Workers Use information to solve problems, describes managers well Performance Threat A situation where something is wrong or likely to be wrong Performance Opportunity A situation that offers the possibility of a better future, if the right steps are taken Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 3-5 5 Competencies Information . | Chapter 3 Managers as Decision Makers Exploring Management Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 3-1 Chapter 3 “Estamos bien en el réfugio – los 33.” For 69 days shift leader Luis Urzua kept the men trapped in the Chilean mine organized and hopeful. On the 70th day, he was the last man safely out. Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 3-2 2 Learning Objectives Chapter 3 How do managers use information to solve problems? () What are the five steps in the decision-making process? () What are current issues in managerial decision making? () Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 3-3 3 USING INFORMATION TO SOLVE PROBLEMS Takeaway – answers to come Managers use technological, informational, and analytical competencies to solve problems. Managers deal with problems posing threats and offering .
