Lingo
The act of choosing one alternative from among a set of alternatives.
What is Decision-making
This is the first stage of Henri Fayol's 4 functions
What is Planning
This occurs when the group’s desire for consensus and cohesiveness overwhelms its desire to reach the best possible decision
What is Groupthink
These decisions are relatively unstructured and occur much less often than programmed decisions
What are Non-programmed decisions
This approach to decision making that tells managers how they should make decisions; it assumes their decisions will be in the organization’s best interests
What is Classical model
An innate belief about something, without conscious consideration.
What is Intuition
Today, the four (4) basic management functions are considered to be
What is planning, organizing, leading and controlling
A decision-maker’s staying with a decision even when it appears to be wrong.
What is Escalation of commitment
The extent to which a decision maker is willing to gamble when making a decision.
What is Risk propensity
This model requires the decision maker to specifically define the decision, situation, identify alternatives, and evaluate each alternative.
What is Rational
The tendency to search for alternatives only until one is found that meets some minimum standard of sufficiency
What is Satisficing
One advantage of group decision making is that it usually provides ___ than individual decision making.
What are ideas and information
The decision maker faces 3 conditions. These are
What is Certainty, Risk and Uncertainty
A condition in which the decision maker knows with reasonable certainty what the alternatives are and what conditions are associated with each alternative.
What is State of certainty
This model is a stark contrast to the classical model and is used most often.
What is the administrative model
A concept suggesting that decision makers are limited by their values and unconscious reflexes, skills, and habits
What is Bounded rationality
This is an informal alliance of individuals or groups formed to achieve a common goal, which is often a preferred decision alternative. They often play an important role in decision making in organizations.
What is a coalition
Perhaps the biggest drawback of group decision making is that it need these
What is time and resources
A condition in which the decision maker does not know all the alternatives, the risks associated with each, or the consequences each alternative is likely to have.
What is State of uncertainty
This perspective is particularly persuasive when it is used to question the outcomes of decisions based on “untested but strongly held beliefs” or on “uncritical benchmarking.”
What is Evidence-Based Management
A decision that is fairly structured or recurs with some frequency (or both).
What is a Programmed decision
To avoid groupthink, the group should critically evaluate all alternatives, allow divergent viewpoints to be presented, and assign at least one member to play this role
What is a devil’s advocate
Good management strives for high levels of these
What are high efficiency and high effectiveness.
The merger of two corporations would use this type of decision.
What are Non-programmed decisions
If Mr. Spock was to make a decision, he would use this model. He only thinks logically, has all the information, and can eliminate all uncertainty.
What is the classical decision model