management mid terms chapter 3 Flashcards
Process of taking corrective action to meet objectives
Problem solving
- Process of selecting a course of action that will solve a problem
Decision making
Sport industry problems
How to engage Gen Z sport fans through emerging social media platforms (e.g., BeReal, Threads)
Engaging young children through sport, Reaching Hispanic sport fans
Sport and sustainability
Rising Fan Cost Index (FCI),
Expanding sport interest into underserved geographic markets(NASCAR: large cities, Football: west coast)
Growth of Big 4 internationally(Explaining rules to new audiences)
- Make quick decisions without acquiring necessary information needed and without considering alternatives
Reflexive Style
- Take plenty of time to decide, gathering lots of information and analyzing many alternatives
Reflective Style
Don’t rush and don’t waste time. Know when more information is needed and when it’s time to stop analyzing and get moving.
Consistent Style-
Six steps of effective decision making-
- Define the problem
- Set objective
- Generate alternatives
- Select feasible alternatives
- Implement decision
- Control Results
- Decision makers use organizational policies/procedures to make routine/recurring decisions.
Programmed decisions
Decision makers use the 6-step decision process for significant and non-routine situations.
Non-programmed decisions
what Establishes intended accomplishments.
Objectives-
Standards that must be met to accomplish the objective
Criteria-
Alters what is established by introducing something new
Innovation-
Generates new solutions to problems and new ways to approach opportunities
Creativity-
Occurs at the level where no profit or loss results
Break-even analysis
