Tuesday, February 19, 2019
Decision Making Essay
Managers atomic number 18 constantly c all(prenominal)ed upon to sterilize decisions in order to cypher worrys. Decision making and problem solving are ongoing processes of evaluating situations or problems, considering choices, making choices, and following them up with the necessary actions. Sometimes the decision-making process is super short, and mental reflection is essentially instantaneous. In other situations, the process dejection drag on for weeks or even months. The entire decision-making process is aquiline upon the right information being available to the right people at the right times.The decision-making process involves the following tonuss 1. Identifying the problems 2. Identify decision criteria 3. eitherocating weights to criteria 4. fasten resources. 5. Analyze the substitutes. 6. Select the outflank pick. 7. Implement the decision. 8. Establish a maintain and evaluation system. 1. Identifying the problems In this step, the problem is thoroughly a nalysed. There are a couple of questions one should ask when it comes to identifying the purpose of the decision. * What exactly is the problem? * why the problem should be solved? Who are the affected parties of the problem? * Does the problem have a deadline or a specific time-line? 2. Identifying decision criteria The nigh obviously troubling situations found in an organization fuck normally be identified as decision crietria of underlying problems (Table 1). These citeria all demonstrate that mostthing is wrong with an organization, only when they dont identify root ca white plagues. A thriving film director doesnt just attack the decision criteria but he works to uncover the factors that cause. TABLE 1 Identifying Decision Criteria Criteria implicit in(p) ProblemLow profits and/or declining sales Poor securities industry research High costs Poor design process bad trained employees Low morale Lack of communication between solicitude and subordinates High employee tu rnover Rate of pay too low art design not suitable High rate of absenteeism Employees believe that they are not prized 3. Allocating weights to criteria Assigning a weight to each full point places the items in the correct priority order of their importance in the decision-making process. 4. underdeveloped alternatives Time pressures frequently cause a manager to move out front after considering only the first or most obvious resolvents.However, successful problem solving requires thorough examination of the challenge, and a quick answer may not result in a permanent solution. Thus, a manager should think through and investigate several alternative solutions to a single problem before making a quick decision. unitary of the best known methods for developing alternatives is throughbrainstorm,where a gathering works in concert to generate ideas and alternative solutions. The assumption behind brainstorming is that the group ever-changing stimulates thinking one persons idea s, no progeny how outrageous, post generate ideas from the others in the group.Ideally, this spawning of ideas is contagious, and before long, lots of suggestions and ideas flow. Brainstorming usually requires 30 minutes to an hour. The following specific rules should be followed during brainstorming sessions * Concentrate on the problem at hand. This rule keeps the discussion very specific and avoids the groups tendency to address the events leading up to the current problem. * defend all ideas. In fact, the more ideas that comes up, the better. In other words, there are no bad ideas. Encouragement of the group to freely offer all eyeshots on the subject is important.Participants should be encouraged to present ideas no matter how ridiculous they seem, because such ideas may spark a creative thought on the part of someone else. * Refrain from allowing members to appreciate others ideas on the spot. All judgments should be deferred until all thoughts are presented, and the grou p concurs on the best ideas. Although brainstorming is the most common technique to develop alternative solutions, managers can use several other representations to service of process develop solutions for example * titulary group technique.This method involves the use of a highly structured meeting, bump off with an agenda, and restricts discussion or interpersonal communication during the decision-making process. This technique is useful because it ensures that either group member has equalinput in the decision-making process. It also avoids some of the pitfalls, such as pressure to conform, group dominance, hostility, and conflict, that can plague a more interactive, spontaneous, unstructured forum such as brainstorming. 5. Analyzing alternatives The purpose of this step is to decide the relative merits of each idea.Managers essential identify the advantages and disadvantages of each alternative solution before making a final decision. Evaluating the alternatives can be don e in numerous manners. Here are a few possibilities * Determine the pros and cons of each alternative. * Perform a cost-benefit analysis for each alternative. * clog each factor important in the decision, ranking each alternative relative to its ability to meet each factor, and then multiply by a probability factor to provide a final value for each alternative. Regardless of the method used, a manager needs to evaluate each alternative in terms of its * Feasibility Can it be done? Effectiveness How well does it resolve the problem situation? * Consequences What exit be its costs (financial and nonfinancial) to the organization? 6. Selecting an alternatives After a manager has canvas all the alternatives, she must decide on the best one. The best alternative is the one that produces the most advantages and the few serious disadvantages. Sometimes, the selection process can be fairly straightforward, such as the alternative with the most pros and fewest cons. Other times, the opt imal solution is a combination of several alternatives. Sometimes, though, the best alternative may not be obvious.Thats when a manager must decide which alternative is the most feasible and effective, coupled with which carries the lowest costs to the organization. (See the preceding section. ) Probability estimates, where analysis of each alternatives chances of success takes place, often come into play at this point in the decision-making process. In those cases, a manager simply selects the alternative with the highest probability of success. 7. Implementing the alternative Managers are gainful to put forward decisions, but they are also paid to get results from these decisions. Positive results must follow decisions.Everyone involved with the decision must know his or her role in ensuring a successful outcome. To make certain that employees understand their roles, managers must thoughtfully devise programs, procedures, rules, or policies to help aid them in the problem-solvi ng process. 8. Evaluating decision effectiveness Even the most experience business owners can learn from their mistakes. Always monitor the results of strategic decisions you make as a small business owner be ready to adapt your plan as necessary, or to switch to another potential difference solution if your chosen solution does not work out the way you expected.Conclusion When it comes to making decisions, one should always weigh the positive and oppose business consequences and should favour the positive outcomes. This avoids the possible losses to the organization and keeps the caller-out running with a sustained growth. Sometimes, avoiding decision-making seems easier specially, when we get into a lot of brush after making the tough decision. But, making the decisions and accepting its consequences is the only way to stay in control of our corporate life and time.
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