Decision making is a fundamental management function. In the light of this statement, define and explain, with examples, all the views on how managers make decisions. Answer this question in not more than 400 words
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Decision making is a fundamental management function. In the light of this statement, define and explain, with examples, all the views on how managers make decisions.
Answer this question in not more than 400 words
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- Decision making is a fundamental management function. In the light of this statement, define and explain, with examples, all the views on how managers make decisions.1. What are structured, unstructured, and semistructured decisions? Provide an example of each. Why is it important to understand the structure of decision-making when solving business problems?the Hierarchy of the information- based business decision makers.Which level has the best chance of success and why? the 3 Hierarchies are top tier visionaries, middle tier standarised decison makers and the base tier intuitive decision maker. Explain them and explain which level of these has the best chance of success and why? need to know advantages as well please Thank you.
- What are the steps of effective decision making? Is there a difference between wrong decisions and bad decisions? Why do good managers sometimes make wrong decisions? Bad decisions? How can managers improve their decision making skills?2.1) Explain the importance of the management environment analysis and its impact on decision-making in a company like Eskom1. Why are policies important? 2. How can managers effectively implement policies within an organization? 3. What is decision making? 4. Explain the different types of decisions and give an example for each type.
- What can individuals do to improve the quality of their decision-making? Would you rather work for a company that takes a stakeholder or stockholder approach in its dealings with customers, employees, suppliers, and other constituencies in its network? Explain the concepts the ends justify the means, and the means justify the Which of the two best ascribed your management style and achieve organizational efficiency? What type of leaders and leadership styles and practices often lead to problems with employees, customers, and other stakeholders and stockholders?Discuss decision-making under the following subheadings, supporting your argument with examples from the workplace.Indicate whether or not the organization where you are employed engages in strategic management and planning. If Yes, how has this benefitted the organization? If No, give your perceptions regarding the limitations and why the organization does not engage in strategic management and planning. Discuss briefly why ethical decision-making is essential in an organization, and the possible effects that ethical violations/unethical behaviours can have on the organization and its stakeholders.
- What are the biases that frequently cause managers to make poor decisions? What are some of the innovative techniques managers can use to make decisions? Describe at least two techniquesa) Why is decision making often described as the essence of a manager’s job? b) Is there a difference between wrong decisions & bad decision?Why do good managers sometimes make wrong decision? Bad decision? c)How can managers improve their decision-making skillsAn effective decision maker spends much time determining the possible scenarios in future. In the light of this statement, define and explain with examples all three approaches on how managers make decisions. Answer this question in not more than 700 words.