Exams 2 Flashcards
Problem
A discrepancy between ideal and actual conditions
Decision
A choice among alternatives
Steps in Problem Solving
Diagnose, Develop solutions, evaluate solutions, choose solutions, implement decision, evaluate and control
Identify and diagnose the problem
Identify the gap between desired and actual conditions
Develop alternative solutions
All kinds of possibilities are explored, even some that seem unrealistic
Evaluate alternative solutions
Comparing the relative value of the alternatives
Choose one alternative solution
The process of weighing the alternatives must stop at some point
Implement the decision
Converting a decision into action
Evaluate and control
Investigate how effectively the chosen alternative solved the problem
Political considerations
Organizational decisions on the basis of the objective merits of competing alternatives with considerations of favoritism, alliances or the desire of the decision maker to stay in favor of those who wield power
Group decisions
The process of several people contributing to a final decision
Creativity
The process of developing novel ideas that can be put into action
The creative and innovative organization
Apply to services and processes as well as to the products. Challenge, freedom, resources, rewards and recognition, allocating time for thinking, building ideas off of others, diversity
Challenge
Employees need the right type and amount of this to help provide a creative atmosphere. There should not be bored or overwhelmed
Freedom
Employees should be free to choose how to accomplish a goal but not which goal to accomplish
Resources
Allotted time and money to enhance creativity
Rewards and recognition for innovative ideas
External rewards and recognition are helpful, but the most important motivation is internal motivation
Allocating time for innovative thinking
Workers need time to think in order to be creative
Building of the ideas of others
Encouragement facilitates creativity
Greater diversity in groups
Cultivate creativity by establishing a group of people with diverse backgrounds
Data-driven management
An attitude and approach to management rather than a specific technique that stems from data-based decision making
Forecasting methods
Important if a manager fails spot trends and react to them before the competition does, the competition can gain invaluable edge
Judgmental forecast
A quantitative forecasting method based of a collecting of subjective opinions
Economic forecasting
Predication of future business activity