chapter 2

Question 1

PROBLEMS INVOLED IN DECISION MAKING

Answer 1

info overload
not enough information
overconfidence in the outcome
misidentifying the problem
impulsive

Question 2

STEPS INVOLVED IN DECISION MAKING PROCESS

Answer 2

identifying the problem
analysing the problem
developing alternative solutions
selecting the best solution
converting decision into action
ensure feedback

Question 3

ADVANTAGES OF DECISION MAKING

Answer 3

1. planning
2. continuous process
3. essential to face new risks and challenges.
4. responsible and delicate job

Question 4

PROCEDURES

Answer 4

will lay down the manner in which certain tasks must be performed. sequence of operations in order to compelete the task

Question 5

types of policies.

Answer 5

formulated policy
implied policy
imposed policy - outside agencies mostly gov which provide policies for all public sectors
appealed - subordiate to superior. arises since the subject in question was probably not covered by policy

Question 6

policies

Answer 6

guide to manages about making certain decisions
limitations for decisions.
answer to pertaining questions

Question 7

Stages involved in the process of MBO

Answer 7

1. define organization goal
2. define empolyee objectives
3. continue monitoring performance and progress
4. performance evaluation
5. feedback
6. performance appraisal

Question 8

PROCESS OF PLANNING

Answer 8

1. identifying business opportunities.
2. establishment of business objectives
3. determinationg of planning premises
4. identifying alternative courses of action
5. evaluvating alternative courses of action
6. selecting the best course of action
7. formation of drivative plans.
8. performance evaluation and review.

Question 9

classification of plans

Answer 9

1. long term planning - 5 to 15 years. strategic
2. medium term - 1- 5 years. tactical
3. short term - less than a year. operational.

Question 10

limitations of planning

Answer 10

1. uncertain nature
2. lack of initiative
3. expensive
4. lack of suboordinate interests