This slide show complements NCV 4 Management Practice Hands-On Training by Bert Eksteen & Anthony Hill, published by Future Managers Pty Ltd. For more information visit our website
This slide show complements NCV 4 Management Practice Hands-On Training by Bert Eksteen & Anthony Hill, published by Future Managers Pty Ltd. For more information visit our website www.futuremanagers.net
Decision-making conditions and levels of uncertainty Certainty Risk Uncertainty Decision maker has complete certainty Decision maker has some certainty Decision maker has complete uncertainty Available options and the benefits or costs of each are known Outcome of each alternative is not known in advance Outcome of each alternative is unpredictable No element of change intervenes between the option and its outcome Probability can be assigned to each alternative outcome Probability cannot be assigned to each alternative outcome Decision is a sure thing Decision is a “gamble” Decision requires “guts” or based on your “gut feeling”
If you are the manager of a McDonald’s franchise nearby you, lists the decisions that you will make.
Divide these decisions into decisions where the outcome is certain, decisions where there is risk involved (and mention the risk) and decisions with a lot of uncertainty.
1.1 Use the decision-making process to make a management decision Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 Stage 7 Recognise, classify and define the problem or opportunity Set goals and criteria Generate creative alternative courses of action Evaluate alternative courses of action Select the best option Implement the chose option Conduct follow up evaluation Group decision making Quantitative tools – Cost benefit analysis
How decision making and management functions link Planning and decision making Managers determine the organisation’s vision, mission and goals and decide on a strategy to achieve them Leading Managers direct and motivate members of the organisation to achieve the mission and goals Organising Manager’s group activities together, establish authority, allocate resources and delegate Controlling Managers monitor progress and take corrective steps to reach the mission and goals
How the four functions of management differ for the three management levels
Survey results have revealed that academics and practitioners alike agree that leadership is the most important topic within the realm of organisational behaviour. According to a leadership study of more than 25 000 employees, 69% of employee job satisfaction stems from the leadership skills of the employee’s manager. The major reason for employee failure is poor leadership. Management experts believe that leadership could be the number one strategic concern of business in the twenty-first century.
Leaders deal with followers or individuals in the organisation, and unless they understand the basic behaviour of followers and the relationship between followers and the organisation, they will not be able to exercise their leadership role effectively.
The leader will find that he or she also has groups as followers in the organisation
Leadership is often defined as the management function that activates people to things willingly. This means that leaders must know how to motivate their followers.
Leaders have to communicate their vision, strategies, and expectations to followers.