W3: Decision Making, Communication, Balance Flashcards
define decision making
selection fo course of action from many alternative
define communication
vehicle for transmitting decisions/other info
define balance
mgmt ability to maint org. stability (relation to effect decision making and communication)
-adapt to changing environ., political, social, and tech. conditions
what are the 3 stages of decision making
- identify problem
- identify/analyze courses of action
- choose a course of action
(+ implement and evaluate after)
which stages of decision-making do managerial decisions encompass?
all 3 stages
which stages of decision-making do non-managerial decisions concentrate on?
selection stage
what are the types of decisions?
-programmed
-non-programmed
-organizational
-personal
what are programmed decisions?
-familiar situation
-quick/routine/repetitive decisions
-policies and procedures in place
what are non-programmed decisions?
-unique/unprecedented situation
-procedure must be developed
- decision takes longer
eg. COVID
define organizational decisions
relate to purposes, objectives, activities of org.
define personal decisions
concern w/ mgr individ. goals, may impact org.
eg. resign to move offices
what are the 3 conditions for making decisions?
- certainty- enough info
- risk- results uncertain- use probability
- uncertainty (can’t predict future events)
what are the diff approaches to uncertainty?
-optimistic/maximum
-pessimistic
-risk averting
what is the pessimistic approach?
compare the worst case scenario for every option and choosing the least worst case
what is the risk-averting approach
w/ least variation among outcomes
what is the optimistic approach?
best for all possible outcomes for all alternatives
what are the 3 different types of decision-making techniques?
- decision tree
- cost-benefit
- cost-effectiveness
how does cost-benefit work?
compare costs (of implementing) and financial benefits of project/decision (maintenance)
- payoff measured in money/achievement
how does cost-effectiveness work? what is it used for?
compare diff options in terms of cost and effectiveness at reaching objective
- min $ cost
-max measure. of output to budget constraint
what are the 3 decision-making possibilities?
-individual
-combination
-group
what are 2 phenomena that can interfere with good decisions?
1 .groupthink
2.risky shift
What is the advantage of group decision?
more info available
What is the disadvantage of group decisions?
-group norms
-member roles
-cohesiveness
-estab. communication patterns
what are methods of group decision-making?
- interacting groups
- Delphi groups
- nominal groups
- focus groups
what is a Delphi group?
develop consensus of expert opinion
what is a nominal group?
generate creative and innovative options/ideas
define effective communication
process of sending msg so that msg gotten is close as possible to msg intended
what forms of communication are interpersonal and organizational?
interdependent & interrelated
define allness
person unconsciously assume they know everything
- arrogant, close-minded, intolerant
define effective organizational communication
getting accurate msg to members of org.
what factors influence effectiveness of org. comm.?
-formal channels
-authority structure
-job specialization
-info ownership
what are the directions of internal comm?
-up, down, horizontal, diagonal
what are the 2 realities of grapevine?
- inevitable
- people will make stuff up if no info available
