Management Process
BUSINESS MANAGEMENT
PROJECT:
BASIC MANAGEMENT DECISION MAKING PROCESS
TEACHER:ROBERT MACKENZIE
Decision-making isanessentialaspectofmodernmanagement. This isafunction ofmanagement. Main task ofmanagementisareasonabledecision. Decision-making is a process of choosing a solution from available alternatives. The decision-makingisimportantbecauseitdeterminesbothmanagement actionandorganization. Adecisioncanbedefinedas"a choice made between alternative courses of action in a situation of uncertainty" (Business Dictionary).It representsawell-balancedjudgmentandcommitmenttoaction.
Management makes decisions about strategy, organization structure, human resources, product or service quality, productivity improvement, performance appraisal, responses to environmental change (Victoria University, Robert Mackenzie, Business Management, Chapter 4 Managerial Decision Making, slide 3). Therefore, itisrightthatthefirstimportant functionofmanagement is tomake decisionson issuesandsituations. Itisacontinuous process. The decisionisachoiceamongalternatives. Decisionsare madeto achievethegoalsadopted in accordancewiththenextaction, so decision-making is considered to be a processby whichacourse of actiondecisionis made. According to PeterDrucker, "Any one manager, hepassedthedecision-makingprocess". Managementhasto make a decisionbefore the actionorpriortothepreparationofaplanfor implementation. Moreover, theabilityofmanagersisoften judgedbythequalityofthedecision.
The basic management decision making process include steps which are taken into a logical manner and shown in the graph below:
Decision-making processbeginswhena managertoidentifythe real problem. This step will go through three main actions: scan the environment for changing circumstances, categorize the situation as a problem or non-problem and diagnose the problem’s nature and causes (Victoria University, Business Management Manual Book, Chapter 4 Managerial Decision Making, Page 88). Precise
PROJECT:
BASIC MANAGEMENT DECISION MAKING PROCESS
TEACHER:ROBERT MACKENZIE
Decision-making isanessentialaspectofmodernmanagement. This isafunction ofmanagement. Main task ofmanagementisareasonabledecision. Decision-making is a process of choosing a solution from available alternatives. The decision-makingisimportantbecauseitdeterminesbothmanagement actionandorganization. Adecisioncanbedefinedas"a choice made between alternative courses of action in a situation of uncertainty" (Business Dictionary).It representsawell-balancedjudgmentandcommitmenttoaction.
Management makes decisions about strategy, organization structure, human resources, product or service quality, productivity improvement, performance appraisal, responses to environmental change (Victoria University, Robert Mackenzie, Business Management, Chapter 4 Managerial Decision Making, slide 3). Therefore, itisrightthatthefirstimportant functionofmanagement is tomake decisionson issuesandsituations. Itisacontinuous process. The decisionisachoiceamongalternatives. Decisionsare madeto achievethegoalsadopted in accordancewiththenextaction, so decision-making is considered to be a processby whichacourse of actiondecisionis made. According to PeterDrucker, "Any one manager, hepassedthedecision-makingprocess". Managementhasto make a decisionbefore the actionorpriortothepreparationofaplanfor implementation. Moreover, theabilityofmanagersisoften judgedbythequalityofthedecision.
The basic management decision making process include steps which are taken into a logical manner and shown in the graph below:
Decision-making processbeginswhena managertoidentifythe real problem. This step will go through three main actions: scan the environment for changing circumstances, categorize the situation as a problem or non-problem and diagnose the problem’s nature and causes (Victoria University, Business Management Manual Book, Chapter 4 Managerial Decision Making, Page 88). Precise
References: * Victoria University, Robert Mackenzie, Business Management, 2012, Chapter 4 Managerial Decision Making, PowerPoint Slide, viewed on 1/11/2012 * Victoria University, Business Management Manual Book, 2012, Chapter 4 Managerial Decision Making, viewed on 1/11/2012. * Decision Innovation, 2012, “Decision Making theories for the Curious”, “http://www.decision-making-solutions.com/decision-making-theories.html”, viewed on 1/11/2012. * Slide Share, 2012, “Managerial Decision Making”, “http://www.slideshare.net/greatqadirgee4u/managerial-decision-making, viewed on 1/11/2012. * Management Study Guide, 2012, “Decision Making – Meaning and Important Concepts”, http://managementstudyguide.com/decision-making.htm, viewed on 1/11/2012.