Management Decision-Making

Paper Summary:

This paper discusses the process of decision-making for those in management positions. It discusses the need for the manager to identify the possible risks and create solutions as a way to avoid or manage those risks. It also describes the characteristics of managerial decisions that contribute to the difficulty and stress of the decision-making process. The paper then analyzes the differences between programmed decisions and non-programmed decisions when dealing with the structure of a decision. Finally, the paper details the six-stage process that decision makers can follow.

From the Paper:

"For management to arrive at a correct conclusion to a decision, more than an idea must arise. Good managers know what is ahead of them when a decision is to be made. Most decisions lack structure and involve risk, uncertainty, and conflict. Some will be programmed decisions, which involve a process to find a positive conclusion. Non-programmed decisions test the ability of the manager or the decision maker. Decision making is something that managers face on a daily basis. The decision making process should be used when ever there is a decision to be made, big or small. With many barriers to entry, this process can be tedious and exhausting. But in the end the great managers will emerge showing their skills and talents."

Sample of Sources Used:

• Bateman, Thomas S., and Scott A. Snell. Management: Leading & Collaborating in a Competitive World. 7th ed. Boston: McGraw-Hill Irwin, 2007.
• http://courses.ag.uidaho.edu/aers/agec413/CHAPO2.pdf
• http://www.emu.edu.tr/tanova/mgmt201/LECTURE3.HTM
• Schwarber, Patricia D. Management Decision. Vol. 43 No. 7/8. Emerald Group Publishing Limited, 2005.
• Spradlin, Tom. "A Lexicon of Decision Making", Decision Analysis Society <http://faculty.fuqua.duke.edu/daweb/lexicon.htm

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