Podcast
Questions and Answers
Which step involves establishing the relative importance of decision criteria?
Which step involves establishing the relative importance of decision criteria?
What must a manager possess before effectively resolving a problem?
What must a manager possess before effectively resolving a problem?
In which step are viable alternatives identified and listed without evaluation?
In which step are viable alternatives identified and listed without evaluation?
What is the main goal of the Decision-Making Process?
What is the main goal of the Decision-Making Process?
Signup and view all the answers
In analyzing alternatives, what is primarily assessed?
In analyzing alternatives, what is primarily assessed?
Signup and view all the answers
What characterizes a problem as being recognized by a manager?
What characterizes a problem as being recognized by a manager?
Signup and view all the answers
What is the purpose of evaluating the decision’s effectiveness?
What is the purpose of evaluating the decision’s effectiveness?
Signup and view all the answers
During the decision-making process, what should not be done in the step of selecting an alternative?
During the decision-making process, what should not be done in the step of selecting an alternative?
Signup and view all the answers
Study Notes
Decision-Making Process Overview
- Decision-making involves choosing from multiple options to address a problem.
- This process includes identifying a problem, establishing criteria, evaluating alternatives, and assessing the outcome.
Step 1: Identifying the Problem
- A problem arises when a gap exists between the current and desired situation.
- A manager's awareness, pressure to solve, and required authority/resources are crucial for problem recognition.
Step 2: Defining Decision Criteria
- Decision criteria are factors crucial for the problem's resolution.
- Examples include costs, risks involved, and desired outcomes (e.g., firm growth).
Step 3: Prioritizing Criteria (Weight Allocation)
- Criteria are not equally important; assigning weights prioritizes them.
Step 4: Generating Alternatives
- This step involves brainstorming possible solutions without evaluating them.
Step 5: Analyzing Alternatives
- Assess each alternative's strengths and weaknesses.
- The analysis considers resolving issues identified in steps 2 and 3 regarding criteria and their importance.
Step 6: Selecting the Best Alternative
- The alternative with the highest weighted score is selected.
Step 7: Implementation
- The chosen alternative is put into action.
- Gaining support and commitment from those involved is necessary for effective implementation.
Step 8: Evaluating the Decision
- The effectiveness of the decision is judged based on the outcomes.
- Evaluate if problem resolution was successful.
- If not, determine the reasons and revise the process.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
This quiz explores the essential steps of the decision-making process, including identifying problems and evaluating alternatives. Understand how to prioritize criteria and analyze potential solutions effectively. Perfect for anyone looking to enhance their decision-making skills.
