week 5

Question 1

Describe the decision making process (8 steps)

Answer 1

IIDASIE (it is always dick ass sluts in Egypt)

Identification of the problem

identification of decision criteria

Allocation of weights to criteria

Development of alternatives

Analysis of alternatives

Selection of an alternative

Implementation of the alternative

Evaluation of decision effectiveness

Question 2

common decision making errors

Answer 2

anchoring effect
immediate gratification effect
overconfidence bias
hindsight bias
self-serving
sunk costs error
randomness bias
representation bias
availability bias
framing bias
confirmation bias
selective perception bias

See picture in notes

Question 3

3 approaches in decision making

Answer 3

1. Rational Decision making = choices are consistent and value maximising within specified constraints
2. Bounded rational Decision making = Decisions are rational within the limits of a manager’s ability to process information (satisfying & escalation of commitment)
3. Intrusive Decision Making = Decisions are made on the basis of experience, feelings and accumulated judgments. This can be both rational and bounded decision making

Question 4

what doe intuitive decision making involve?

Answer 4

expiernce based decisions
values or ethics based decisions

subconscious mental processing

cognitive based decisions

affect initiated decisions

Question 5

Describe the types of decisions and decision making conditions that managers face:
Types of Managerial Decisions:

Answer 5

Planning:
what are the org’s long term objectives?
what strategies will be best to achieve those/
what should the org short term objectives be
how difficult should individual goals be?

Organising:
How many employers should I have reporting directly to me?
how much centralisation should there be in the organisation?

Leading:
how do i handle employees who appear to be low in motivation
what is the most effective leadership style in a given situation?

Controlling:
what activities in the organisation need to be controlled?
how should these activities be controlled?
what type of management information systems should the organisation have

Question 6

type of problems

Answer 6

1. Structured (clear/familiar)

2. Unstructured (unusual/ambiguous)

Question 7

type of decisions

Answer 7

1. Programmed (procedures, rule policies)
2. Non-programmed (unique solution)

see photo 3.4

Question 8

Decision Making Conditions:

Answer 8

1. ) certainty – Can make accurate decisions because all outcomes are known (accounted for)
2. ) Risk – Can estimate likelihood of certain outcomes
3. ) Uncertainty – Has neither certainty or probability outcomes

Question 9

How do Managers group Decisions?

Answer 9

Decisions are often made by groups representing the people who will be most affected by those decisions
o	Committees
o	Task forces
o	Review panels
o	Work teams

Question 10

Group Decision Making:

Advantages

Answer 10

Advantages:
o	More complete information
o	Diversity of experiences/perspectives
o	More alternative generated
o	Increased acceptance of solution
o	Increased legitimacy

Question 11

group decision making: disadvantages

Answer 11

Disadvantages:
o	Time-consuming
o	Minority domination
o	Ambiguous responsibility
o	Pressures to conform
o	Groupthink

Question 12

what is ‘group think’

Answer 12

When a group exerts extensive pressure on an individual to withhold his or her different views in order to appear in agreement (unison) (what it does, how it occurs and how to minimize it – on slides)

Question 13

explain improving decision making - make group decisions more creative by

Answer 13

Make group decisions more creative by:

1. ) Brainstorming
2. ) The nominal group technique
3. ) Electronic meetings

Question 14

edward de bonus 6 thinking hats

Answer 14

the facts - what are the facts

the positives - what are good points?

the problems - what coulee be wrong with this?

the feelings - what do I feel about this?

The new Ideas - What new ideas are possible?

The thinking - what thinking and planning is needed?

Question 15

Discuss contemporary issues in managerial decision making:

Contemporary issues:

Answer 15

o National culture
o Creativity
o Design Thinking
o Big Data

Question 16

Define group and describe the stages of group development

Answer 16

Group = 2 or more interacting and independent individuals who come together to achieve specific goals

see table 9.1

Question 17

5 stages of development

Answer 17

stage 1: forming
stage 2: storming
stage 3: norming
stage 4: performing
stage 5: adjourning

Question 18

define roles

Answer 18

behavior patterns expected of someone who occupies a given position in a social unit

Question 19

define norms

Answer 19

standards or expectations accepted and shared by group members

Question 20

define conformity

Answer 20

Desire to gain acceptance in groups make people susceptiable to conformity pressures

Question 21

define status

Answer 21

Prestige, grading, position, or rank within a group

Question 22

define size

Answer 22

Affects efficiency, effectiveness, productivity (e.g. social loafing)

Question 23

define cohevisveness

Answer 23

Depends on how much members are motivated to remain in a group and their shared goals

Question 24

describe major concepts of grip behaviour

Answer 24

roles
norms
conformity
status
size
cohesiveness

Question 25

Group V Teams:

Answer 25

Work groups = primarly share information to help each other do his/her job more efficiently and effectively

Work teams = Work intensively on a specific, common goal using their positive synergy, individual and mutual accountability and complementary skills

see pic 9.4

Question 26

Different types of work teams

Answer 26

1. ) Problem solving team
2. ) Self managed work team
3. ) Cross functional team
4. ) Virtual team

Question 27

explain team effectiveness model

Answer 27

figure 9.5

Question 28

explain team composition factors

Answer 28

figure 9.6

Question 29

How Managers Shape Team Behavior?:

Answer 29

Selection – when hiring team members, managers should check applicants have the technical and team skills required to successfully perform the job and team roles

Training – Peforming well in a team involves a set of behaviors that can be learned

Reward Systems – Needs to encourage cooperative efforts rather than competitive ones.

Question 30

Discuss contemporary issues in managing teams:

Answer 30

DRAW BACKS:
disliking team members
mistrusting members
stereotyping 
communication problems
stress and tension

Benefits:
greater diversity of ideas
limited groupthink
increased attention on understanding others’ ideas, perspectives, etc

Question 31

define team composotion

Answer 31

In addition to recognising team members’ abilities, skills, knowledge and personality, managers need to understand the cultural characteristics of the groups and the group member they manage

Question 32

define eam strucutre

Answer 32

Conformity, status, social loafing and cohesiveness vary in different cultures

Question 33

define team processes

Answer 33

Communication issues, managing conflict and virtual team can be particularly challenging for managers

Question 34

When Teams are Not the Answer:

Answer 34

Three tests:

1. Can the work be done better by more than one person?
2. Does the work create a common purpose or set of goals for the people in the group that’s more than the sum of individual goals?
3. Is there interdependence between individuals and tasks?