SlideShare a Scribd company logo
1 of 55
Download to read offline
Managerial Decision Making Chapter 6 Part 2  Planning Challenges in the 21st Century
[object Object],[object Object],[object Object],[object Object],[object Object],LEARNING OBJECTIVES When you have finished studying this chapter, you should be able to:
[object Object],[object Object],[object Object],[object Object],LEARNING OBJECTIVES  (cont’d) When you have finished studying this chapter, you should be able to:
Sources of Organizational and Entrepreneurial Decisions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Figure 6.1   Seven Steps in the Decision-Making Process Identifying opportunities  and diagnosing problems Identifying objectives Generating alternatives Evaluating alternatives Choosing implementation strategies Monitoring and evaluating Reaching decisions
Step 1: Identifying Opportunities and Diagnosing Problems ,[object Object],[object Object]
Step 2: Identifying Objectives ,[object Object],[object Object],[object Object]
Step 3: Generating Alternatives ,[object Object],[object Object]
Step 4: Evaluating Alternatives ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Step 5: Reaching Decisions ,[object Object],[object Object]
Step 6: Choosing Implementation Strategies ,[object Object],[object Object],[object Object],[object Object]
Figure 6. 2  Keys to Effective Implementation of Decisions
Step 7: Monitoring and Evaluating ,[object Object],[object Object]
Figure 6. 3  Two Contrasting Decision Models
Rational-Economic Model ,[object Object],[object Object]
Assumptions of the Rational-Economic Model ,[object Object],[object Object],[object Object],[object Object],[object Object]
Drawbacks of the Rational-Economic Model ,[object Object],[object Object],[object Object],[object Object],[object Object]
Ethics and Decision Making ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Behavioral Decision Model ,[object Object],[object Object],[object Object],[object Object],[object Object]
Concepts Important to the Behavioral Decision Model ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Concepts Important to the Decision Model (cont’d) ,[object Object],[object Object]
Fostering Quality in the Decision-Making Process ,[object Object],[object Object]
Procedures for Vigilant Decision Makers ,[object Object],[object Object],[object Object],[object Object]
Procedures for Vigilant Decision Makers (cont’d) ,[object Object],[object Object],[object Object],[object Object]
Group Considerations in Decision Making ,[object Object]
Participative Models ,[object Object],[object Object],[object Object],[object Object]
Vroom and Yetton Decision Styles AII CI AI CII GII Lightly  autocratic Highly  democratic A  = Autocratic C  = Consultative G  = Group The manager solves the decision problem alone using information available at the time. The manager solves the decision problem alone after obtaining necessary information from subordinates. The manager solves the decision problem after obtaining ideas and suggestions from subordinates individually. The decision may or may not reflect their council. The manager solves the decision problem after obtaining ideas and suggestions from subordinates as a group. The decision may or may not reflect their council. The group analyzes the problem, identifies and evaluates alternatives, and makes a decision. The manager acts as a coordinator of the group of subordinates and accepts and implements any solution that has the support of the group
Table 6. 1  Vroom–Yago Decision-Making Styles Source:  Adapted from V. H. Vroom, “Leadership and the Decision-Making Process,”  Organizational Dynamics  (Spring 2000): 82–94. Decide style   Leader makes the decision alone and announces or sells it to the group. Leader uses his/her own expertise and may collect information from the group to help solve the problem. Consult individually style   Leader presents the problem to group members individually, gets their ideas and suggestions individually, and then makes the decision. Consult group style   Leader presents the problem to group members in a meeting, gets their suggestions, and then makes the decision.  Facilitate style   Leader presents the problem to the group in a meeting and acts as a facilitator by defining the problem to be solved and the constraints within which the decision must be made. Leader seeks concurrence from group members on a decision. Delegate Style   Leader permits the group to make the decision within prescribed limits. Group undertakes the identification and diagnosis of the problem and the development of alternative solutions and makes the decision on the selection of alternative(s).
Situational Contingencies Affecting Decision Making Participation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Figure 6. 4  Vroom and Jago Decision Model Instructions: The matrix operates like a funnel. You start at the left with a specific decision problem in mind. The column headings denote situational factors which may or may not be present in that problem. You progress by selecting High and Low (H or L) for each relevant situational factor. Proceed down from the funnel, judging only those situational factors for which a judgment is called for, until you reach the recommended process.
Participative Models (cont’d) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Participative Decision Making: Group Size ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Table 6. 2  Advantages and Disadvantages of Group Decision Making ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
What is Groupthink? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Table 6. 3 Characteristics of Groupthink and the Types of Defective Decisions That May Result ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Types of Defective Groupthink Decisions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Techniques for Quality in Group Decision Making ,[object Object],[object Object],[object Object],[object Object],[object Object]
Brainstorming ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Other Decision-Making Techniques ,[object Object],[object Object],[object Object],[object Object]
Other Decision-Making Techniques  (cont’d) ,[object Object],[object Object],[object Object],[object Object]
Classifying Decision Situations ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Responses to Decision Situations Responses require creativity. Responses are routine. Alternatives are not familiar to decision makers. Alternatives are familiar to decision makers. Nonprogrammed Decisions Programmed Decisions
Strategic Decision-Making Tools ,[object Object],[object Object],[object Object],[object Object],[object Object]
Strategy Selection ,[object Object],[object Object],[object Object]
Table 6. 4  Strategic Decision-Making Matrix Objectives     Increased Increased  Total   Increased Share Output  Weighted  Profit  Market  Production Score   Alternative  0.5  0.3  0.2   Strategies/ Weight Product  2  2  3 0.5(2) 1 0.3(2) 1 0.2(3) 5 2.2   development   Horizontal  4  2  2  0.5(4) 1 0.3(2) 1 0.2(2) 5 3.0   integration Joint venture   5  3  3  0.5(5) 1 0.3(3) 1 0.2(3) 5 4.0
Evaluation of Portfolios ,[object Object],[object Object],[object Object],[object Object],[object Object]
Boston Consulting Group (BCG) Matrix ,[object Object],[object Object],[object Object],[object Object],[object Object]
Figure 6. 5  The BCG Growth-Share Matrix
BCG Matrix: Stars and Cash Cows ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
BCG Matrix: Dogs and Question Marks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Table 6. 6  Illustration of Industry Attractiveness and Business Strength Computations Source:  Adapted from  Strategic Management: Text and Cases on Business Policy  by Hesmer, © 1984. Reprinted by permission of Prentice Hall, Upper Saddle River NJ.
The Industry Attractiveness/Business Strength Matrix (GE Matrix) ,[object Object],[object Object]
Figure 6. 6  The GE Industry Attractiveness/Business Strength Matrix
Implications for Leaders ,[object Object],[object Object],[object Object],[object Object]
Implications for Leaders ,[object Object],[object Object]

More Related Content

What's hot

Decision making and problem solving tristan f. m agtalapa
Decision making and problem solving tristan f. m agtalapaDecision making and problem solving tristan f. m agtalapa
Decision making and problem solving tristan f. m agtalapaTristan Magtalapa
 
Decision Making PowerPoint PPT Content Modern Sample
Decision Making PowerPoint PPT Content Modern SampleDecision Making PowerPoint PPT Content Modern Sample
Decision Making PowerPoint PPT Content Modern SampleAndrew Schwartz
 
7 steps to master problem solving
7 steps to master problem solving7 steps to master problem solving
7 steps to master problem solvingYuri Kaminski
 
Problem solving & decision making
Problem solving & decision makingProblem solving & decision making
Problem solving & decision makingSoft Skills World
 
Good To Great
Good To GreatGood To Great
Good To Greatswchase
 
Decision Making
Decision MakingDecision Making
Decision Makingraza kamal
 
Problem solving & decision making
Problem solving & decision makingProblem solving & decision making
Problem solving & decision makingAjith S
 
Decision making
Decision making Decision making
Decision making fn231
 
What is Agility - Transforming to become an Agile Organization in the Digital...
What is Agility - Transforming to become an Agile Organization in the Digital...What is Agility - Transforming to become an Agile Organization in the Digital...
What is Agility - Transforming to become an Agile Organization in the Digital...Richard Ellis PMP PRM CSM PMI-ACP SSGB
 

What's hot (20)

Decision making
Decision makingDecision making
Decision making
 
Decision making and problem solving tristan f. m agtalapa
Decision making and problem solving tristan f. m agtalapaDecision making and problem solving tristan f. m agtalapa
Decision making and problem solving tristan f. m agtalapa
 
Decision making
Decision makingDecision making
Decision making
 
Decision Making PowerPoint PPT Content Modern Sample
Decision Making PowerPoint PPT Content Modern SampleDecision Making PowerPoint PPT Content Modern Sample
Decision Making PowerPoint PPT Content Modern Sample
 
Managerial Decision Making by Dr. B. J. Mohite
Managerial Decision Making by Dr. B. J. MohiteManagerial Decision Making by Dr. B. J. Mohite
Managerial Decision Making by Dr. B. J. Mohite
 
Decision Making 2
Decision Making 2Decision Making 2
Decision Making 2
 
Decision Making
Decision MakingDecision Making
Decision Making
 
Decision making
Decision makingDecision making
Decision making
 
Management Decision Making
Management Decision MakingManagement Decision Making
Management Decision Making
 
Good to great PPT Slides
Good to great PPT SlidesGood to great PPT Slides
Good to great PPT Slides
 
7 steps to master problem solving
7 steps to master problem solving7 steps to master problem solving
7 steps to master problem solving
 
Problem solving & decision making
Problem solving & decision makingProblem solving & decision making
Problem solving & decision making
 
Good To Great
Good To GreatGood To Great
Good To Great
 
Decision Making
Decision MakingDecision Making
Decision Making
 
Problem solving & decision making
Problem solving & decision makingProblem solving & decision making
Problem solving & decision making
 
IBM: MANAGERIAL DECISION MAKING
IBM: MANAGERIAL DECISION MAKINGIBM: MANAGERIAL DECISION MAKING
IBM: MANAGERIAL DECISION MAKING
 
Decision making
Decision makingDecision making
Decision making
 
Decision making
Decision making Decision making
Decision making
 
What is Agility - Transforming to become an Agile Organization in the Digital...
What is Agility - Transforming to become an Agile Organization in the Digital...What is Agility - Transforming to become an Agile Organization in the Digital...
What is Agility - Transforming to become an Agile Organization in the Digital...
 
Decision making process
Decision making processDecision making process
Decision making process
 

Viewers also liked

Vroom yetton contingency model
Vroom yetton contingency modelVroom yetton contingency model
Vroom yetton contingency modelDeepu Mohan
 
Managerial Decision Making
Managerial Decision MakingManagerial Decision Making
Managerial Decision Makinggreatqadirgee4u
 
Principle centered leadership
Principle centered leadershipPrinciple centered leadership
Principle centered leadershipmsfawnie
 
Theories and styles of leadership
Theories and styles of leadershipTheories and styles of leadership
Theories and styles of leadershipJay Raval
 
principles of Management- types of decision making
principles of Management- types of decision makingprinciples of Management- types of decision making
principles of Management- types of decision makingSindhu Bhargavi B
 
Agile and the nature of decision making
Agile and the nature of decision makingAgile and the nature of decision making
Agile and the nature of decision makingDennis Stevens
 
2 decision making
2 decision making2 decision making
2 decision makingalcheikh
 
1289 p1-spk-teknik kendaraan ringan
1289 p1-spk-teknik kendaraan ringan1289 p1-spk-teknik kendaraan ringan
1289 p1-spk-teknik kendaraan ringanWinarto Winartoap
 
Griffin types of decision making
Griffin types of decision makingGriffin types of decision making
Griffin types of decision makingAbhyuday Shah
 
Planning & Decision making
Planning & Decision makingPlanning & Decision making
Planning & Decision makingImran Udas
 
Decision Making
Decision MakingDecision Making
Decision MakingMarcus9000
 
Managerial Decision Making
Managerial Decision MakingManagerial Decision Making
Managerial Decision Makingmandalina landy
 
PLANNING ,DECISION MAKING & ORGANIZING
PLANNING ,DECISION MAKING & ORGANIZINGPLANNING ,DECISION MAKING & ORGANIZING
PLANNING ,DECISION MAKING & ORGANIZINGsamsoncj999
 
The organizational environment
The organizational environmentThe organizational environment
The organizational environmentKnight1040
 
Chapter 9 managerial decision making
Chapter 9 managerial decision makingChapter 9 managerial decision making
Chapter 9 managerial decision makingJoy Villasenor
 

Viewers also liked (20)

Vroom yetton contingency model
Vroom yetton contingency modelVroom yetton contingency model
Vroom yetton contingency model
 
Managerial Decision Making
Managerial Decision MakingManagerial Decision Making
Managerial Decision Making
 
Principle centered leadership
Principle centered leadershipPrinciple centered leadership
Principle centered leadership
 
Decision making
Decision makingDecision making
Decision making
 
Managerial decision making
Managerial decision makingManagerial decision making
Managerial decision making
 
Theories and styles of leadership
Theories and styles of leadershipTheories and styles of leadership
Theories and styles of leadership
 
principles of Management- types of decision making
principles of Management- types of decision makingprinciples of Management- types of decision making
principles of Management- types of decision making
 
Agile and the nature of decision making
Agile and the nature of decision makingAgile and the nature of decision making
Agile and the nature of decision making
 
2 decision making
2 decision making2 decision making
2 decision making
 
Leadership Latest
Leadership LatestLeadership Latest
Leadership Latest
 
1289 p1-spk-teknik kendaraan ringan
1289 p1-spk-teknik kendaraan ringan1289 p1-spk-teknik kendaraan ringan
1289 p1-spk-teknik kendaraan ringan
 
Griffin types of decision making
Griffin types of decision makingGriffin types of decision making
Griffin types of decision making
 
Planning & Decision making
Planning & Decision makingPlanning & Decision making
Planning & Decision making
 
The vroom model
The vroom modelThe vroom model
The vroom model
 
Decision Making
Decision MakingDecision Making
Decision Making
 
Managerial Decision Making
Managerial Decision MakingManagerial Decision Making
Managerial Decision Making
 
PLANNING ,DECISION MAKING & ORGANIZING
PLANNING ,DECISION MAKING & ORGANIZINGPLANNING ,DECISION MAKING & ORGANIZING
PLANNING ,DECISION MAKING & ORGANIZING
 
7 leadership
7 leadership7 leadership
7 leadership
 
The organizational environment
The organizational environmentThe organizational environment
The organizational environment
 
Chapter 9 managerial decision making
Chapter 9 managerial decision makingChapter 9 managerial decision making
Chapter 9 managerial decision making
 

Similar to Chap06

Decision Making: Decision Making Process, Stages in Decision Making, Individu...
Decision Making: Decision Making Process, Stages in Decision Making, Individu...Decision Making: Decision Making Process, Stages in Decision Making, Individu...
Decision Making: Decision Making Process, Stages in Decision Making, Individu...Ashish Hande
 
Stu R C8e Ch06
Stu R C8e Ch06Stu R C8e Ch06
Stu R C8e Ch06D
 
DECISION MAKING AND TECHNIQUES OF DECISION MAKING
DECISION MAKING AND TECHNIQUES OF DECISION MAKINGDECISION MAKING AND TECHNIQUES OF DECISION MAKING
DECISION MAKING AND TECHNIQUES OF DECISION MAKINGManah Chhabra
 
Critical thinking and decision making
Critical thinking and decision makingCritical thinking and decision making
Critical thinking and decision makingMahmoud Shaqria
 
Principles of Management
Principles of ManagementPrinciples of Management
Principles of ManagementMuhammad Akram
 
Book 2 chapter-6
Book 2 chapter-6Book 2 chapter-6
Book 2 chapter-6GTU
 
Principles of ManagementManagerial Decision Making2.1 What are.pdf
Principles of ManagementManagerial Decision Making2.1 What are.pdfPrinciples of ManagementManagerial Decision Making2.1 What are.pdf
Principles of ManagementManagerial Decision Making2.1 What are.pdfagmobiles
 
decision making
decision makingdecision making
decision makingCaghil1
 
Decision making and decentralization
Decision making and decentralizationDecision making and decentralization
Decision making and decentralizationNursing Path
 
Importance & Steps in Decision Making_Parakramesh Jaroli_Pacific University
Importance & Steps in Decision Making_Parakramesh Jaroli_Pacific UniversityImportance & Steps in Decision Making_Parakramesh Jaroli_Pacific University
Importance & Steps in Decision Making_Parakramesh Jaroli_Pacific UniversityParakramesh Jaroli
 
50709056 decision-making
50709056 decision-making50709056 decision-making
50709056 decision-makingJayesh Martin
 
Session 7 groups bba g-i - introduction to management - decision making and ...
Session 7  groups bba g-i - introduction to management - decision making and ...Session 7  groups bba g-i - introduction to management - decision making and ...
Session 7 groups bba g-i - introduction to management - decision making and ...Diego Thomas
 
Educational leadership n management
Educational leadership n management Educational leadership n management
Educational leadership n management NaeemKhan254
 
Decision Making In Management
Decision Making In ManagementDecision Making In Management
Decision Making In ManagementVinesh Pathak
 

Similar to Chap06 (20)

Decision Making: Decision Making Process, Stages in Decision Making, Individu...
Decision Making: Decision Making Process, Stages in Decision Making, Individu...Decision Making: Decision Making Process, Stages in Decision Making, Individu...
Decision Making: Decision Making Process, Stages in Decision Making, Individu...
 
Stu R C8e Ch06
Stu R C8e Ch06Stu R C8e Ch06
Stu R C8e Ch06
 
Mgt4201#6
Mgt4201#6Mgt4201#6
Mgt4201#6
 
Decision Making.ppt
Decision Making.pptDecision Making.ppt
Decision Making.ppt
 
DECISION MAKING AND TECHNIQUES OF DECISION MAKING
DECISION MAKING AND TECHNIQUES OF DECISION MAKINGDECISION MAKING AND TECHNIQUES OF DECISION MAKING
DECISION MAKING AND TECHNIQUES OF DECISION MAKING
 
Decision making
Decision makingDecision making
Decision making
 
Critical thinking and decision making
Critical thinking and decision makingCritical thinking and decision making
Critical thinking and decision making
 
Principles of Management
Principles of ManagementPrinciples of Management
Principles of Management
 
Pom 4
Pom 4Pom 4
Pom 4
 
Book 2 chapter-6
Book 2 chapter-6Book 2 chapter-6
Book 2 chapter-6
 
Chap 3 MGT162
Chap 3 MGT162Chap 3 MGT162
Chap 3 MGT162
 
Principles of ManagementManagerial Decision Making2.1 What are.pdf
Principles of ManagementManagerial Decision Making2.1 What are.pdfPrinciples of ManagementManagerial Decision Making2.1 What are.pdf
Principles of ManagementManagerial Decision Making2.1 What are.pdf
 
Session 2
Session 2Session 2
Session 2
 
decision making
decision makingdecision making
decision making
 
Decision making and decentralization
Decision making and decentralizationDecision making and decentralization
Decision making and decentralization
 
Importance & Steps in Decision Making_Parakramesh Jaroli_Pacific University
Importance & Steps in Decision Making_Parakramesh Jaroli_Pacific UniversityImportance & Steps in Decision Making_Parakramesh Jaroli_Pacific University
Importance & Steps in Decision Making_Parakramesh Jaroli_Pacific University
 
50709056 decision-making
50709056 decision-making50709056 decision-making
50709056 decision-making
 
Session 7 groups bba g-i - introduction to management - decision making and ...
Session 7  groups bba g-i - introduction to management - decision making and ...Session 7  groups bba g-i - introduction to management - decision making and ...
Session 7 groups bba g-i - introduction to management - decision making and ...
 
Educational leadership n management
Educational leadership n management Educational leadership n management
Educational leadership n management
 
Decision Making In Management
Decision Making In ManagementDecision Making In Management
Decision Making In Management
 

More from guestdc818d

More from guestdc818d (6)

Chap08
Chap08Chap08
Chap08
 
Chap05
Chap05Chap05
Chap05
 
Miller 14e Ppt20 Mic Abbrev
Miller 14e Ppt20 Mic AbbrevMiller 14e Ppt20 Mic Abbrev
Miller 14e Ppt20 Mic Abbrev
 
Chap07
Chap07Chap07
Chap07
 
Chap05
Chap05Chap05
Chap05
 
Chap04
Chap04Chap04
Chap04
 

Recently uploaded

Simplify Your Funding: Quick and Easy Business Loans
Simplify Your Funding: Quick and Easy Business LoansSimplify Your Funding: Quick and Easy Business Loans
Simplify Your Funding: Quick and Easy Business LoansNugget Global
 
Entrepreneurial ecosystem- Wider context
Entrepreneurial ecosystem- Wider contextEntrepreneurial ecosystem- Wider context
Entrepreneurial ecosystem- Wider contextP&CO
 
Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...
Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...
Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...Aggregage
 
Interoperability and ecosystems: Assembling the industrial metaverse
Interoperability and ecosystems:  Assembling the industrial metaverseInteroperability and ecosystems:  Assembling the industrial metaverse
Interoperability and ecosystems: Assembling the industrial metaverseSiemens
 
Darshan Hiranandani (Son of Niranjan Hiranandani).pdf
Darshan Hiranandani (Son of Niranjan Hiranandani).pdfDarshan Hiranandani (Son of Niranjan Hiranandani).pdf
Darshan Hiranandani (Son of Niranjan Hiranandani).pdfShashank Mehta
 
MEP Plans in Construction of Building and Industrial Projects 2024
MEP Plans in Construction of Building and Industrial Projects 2024MEP Plans in Construction of Building and Industrial Projects 2024
MEP Plans in Construction of Building and Industrial Projects 2024Chandresh Chudasama
 
Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...
Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...
Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...PRnews2
 
Welding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsWelding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsIndiaMART InterMESH Limited
 
WSMM Technology February.March Newsletter_vF.pdf
WSMM Technology February.March Newsletter_vF.pdfWSMM Technology February.March Newsletter_vF.pdf
WSMM Technology February.March Newsletter_vF.pdfJamesConcepcion7
 
Neha Jhalani Hiranandani: A Guide to Her Life and Career
Neha Jhalani Hiranandani: A Guide to Her Life and CareerNeha Jhalani Hiranandani: A Guide to Her Life and Career
Neha Jhalani Hiranandani: A Guide to Her Life and Careerr98588472
 
Ivey Leveraging Information Technology MBA 2024
Ivey Leveraging Information Technology MBA 2024Ivey Leveraging Information Technology MBA 2024
Ivey Leveraging Information Technology MBA 2024Nihal Nishadul
 
Pitch Deck Teardown: Xpanceo's $40M Seed deck
Pitch Deck Teardown: Xpanceo's $40M Seed deckPitch Deck Teardown: Xpanceo's $40M Seed deck
Pitch Deck Teardown: Xpanceo's $40M Seed deckHajeJanKamps
 
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...Hector Del Castillo, CPM, CPMM
 
Jewish Resources in the Family Resource Centre
Jewish Resources in the Family Resource CentreJewish Resources in the Family Resource Centre
Jewish Resources in the Family Resource CentreNZSG
 
Types of Cyberattacks - ASG I.T. Consulting.pdf
Types of Cyberattacks - ASG I.T. Consulting.pdfTypes of Cyberattacks - ASG I.T. Consulting.pdf
Types of Cyberattacks - ASG I.T. Consulting.pdfASGITConsulting
 
Rakhi sets symbolizing the bond of love.pptx
Rakhi sets symbolizing the bond of love.pptxRakhi sets symbolizing the bond of love.pptx
Rakhi sets symbolizing the bond of love.pptxRakhi Bazaar
 
5-Step Framework to Convert Any Business into a Wealth Generation Machine.pdf
5-Step Framework to Convert Any Business into a Wealth Generation Machine.pdf5-Step Framework to Convert Any Business into a Wealth Generation Machine.pdf
5-Step Framework to Convert Any Business into a Wealth Generation Machine.pdfSherl Simon
 
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptxGo for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptxRakhi Bazaar
 
Implementing Exponential Accelerators.pptx
Implementing Exponential Accelerators.pptxImplementing Exponential Accelerators.pptx
Implementing Exponential Accelerators.pptxRich Reba
 

Recently uploaded (20)

Simplify Your Funding: Quick and Easy Business Loans
Simplify Your Funding: Quick and Easy Business LoansSimplify Your Funding: Quick and Easy Business Loans
Simplify Your Funding: Quick and Easy Business Loans
 
Entrepreneurial ecosystem- Wider context
Entrepreneurial ecosystem- Wider contextEntrepreneurial ecosystem- Wider context
Entrepreneurial ecosystem- Wider context
 
Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...
Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...
Strategic Project Finance Essentials: A Project Manager’s Guide to Financial ...
 
Interoperability and ecosystems: Assembling the industrial metaverse
Interoperability and ecosystems:  Assembling the industrial metaverseInteroperability and ecosystems:  Assembling the industrial metaverse
Interoperability and ecosystems: Assembling the industrial metaverse
 
Darshan Hiranandani (Son of Niranjan Hiranandani).pdf
Darshan Hiranandani (Son of Niranjan Hiranandani).pdfDarshan Hiranandani (Son of Niranjan Hiranandani).pdf
Darshan Hiranandani (Son of Niranjan Hiranandani).pdf
 
MEP Plans in Construction of Building and Industrial Projects 2024
MEP Plans in Construction of Building and Industrial Projects 2024MEP Plans in Construction of Building and Industrial Projects 2024
MEP Plans in Construction of Building and Industrial Projects 2024
 
Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...
Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...
Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...
 
Welding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsWelding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan Dynamics
 
WSMM Technology February.March Newsletter_vF.pdf
WSMM Technology February.March Newsletter_vF.pdfWSMM Technology February.March Newsletter_vF.pdf
WSMM Technology February.March Newsletter_vF.pdf
 
Neha Jhalani Hiranandani: A Guide to Her Life and Career
Neha Jhalani Hiranandani: A Guide to Her Life and CareerNeha Jhalani Hiranandani: A Guide to Her Life and Career
Neha Jhalani Hiranandani: A Guide to Her Life and Career
 
Ivey Leveraging Information Technology MBA 2024
Ivey Leveraging Information Technology MBA 2024Ivey Leveraging Information Technology MBA 2024
Ivey Leveraging Information Technology MBA 2024
 
Pitch Deck Teardown: Xpanceo's $40M Seed deck
Pitch Deck Teardown: Xpanceo's $40M Seed deckPitch Deck Teardown: Xpanceo's $40M Seed deck
Pitch Deck Teardown: Xpanceo's $40M Seed deck
 
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
 
Jewish Resources in the Family Resource Centre
Jewish Resources in the Family Resource CentreJewish Resources in the Family Resource Centre
Jewish Resources in the Family Resource Centre
 
Types of Cyberattacks - ASG I.T. Consulting.pdf
Types of Cyberattacks - ASG I.T. Consulting.pdfTypes of Cyberattacks - ASG I.T. Consulting.pdf
Types of Cyberattacks - ASG I.T. Consulting.pdf
 
Rakhi sets symbolizing the bond of love.pptx
Rakhi sets symbolizing the bond of love.pptxRakhi sets symbolizing the bond of love.pptx
Rakhi sets symbolizing the bond of love.pptx
 
5-Step Framework to Convert Any Business into a Wealth Generation Machine.pdf
5-Step Framework to Convert Any Business into a Wealth Generation Machine.pdf5-Step Framework to Convert Any Business into a Wealth Generation Machine.pdf
5-Step Framework to Convert Any Business into a Wealth Generation Machine.pdf
 
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptxGo for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
 
Authentically Social - presented by Corey Perlman
Authentically Social - presented by Corey PerlmanAuthentically Social - presented by Corey Perlman
Authentically Social - presented by Corey Perlman
 
Implementing Exponential Accelerators.pptx
Implementing Exponential Accelerators.pptxImplementing Exponential Accelerators.pptx
Implementing Exponential Accelerators.pptx
 

Chap06

  • 1. Managerial Decision Making Chapter 6 Part 2 Planning Challenges in the 21st Century
  • 2.
  • 3.
  • 4.
  • 5. Figure 6.1 Seven Steps in the Decision-Making Process Identifying opportunities and diagnosing problems Identifying objectives Generating alternatives Evaluating alternatives Choosing implementation strategies Monitoring and evaluating Reaching decisions
  • 6.
  • 7.
  • 8.
  • 9.
  • 10.
  • 11.
  • 12. Figure 6. 2 Keys to Effective Implementation of Decisions
  • 13.
  • 14. Figure 6. 3 Two Contrasting Decision Models
  • 15.
  • 16.
  • 17.
  • 18.
  • 19.
  • 20.
  • 21.
  • 22.
  • 23.
  • 24.
  • 25.
  • 26.
  • 27. Vroom and Yetton Decision Styles AII CI AI CII GII Lightly autocratic Highly democratic A = Autocratic C = Consultative G = Group The manager solves the decision problem alone using information available at the time. The manager solves the decision problem alone after obtaining necessary information from subordinates. The manager solves the decision problem after obtaining ideas and suggestions from subordinates individually. The decision may or may not reflect their council. The manager solves the decision problem after obtaining ideas and suggestions from subordinates as a group. The decision may or may not reflect their council. The group analyzes the problem, identifies and evaluates alternatives, and makes a decision. The manager acts as a coordinator of the group of subordinates and accepts and implements any solution that has the support of the group
  • 28. Table 6. 1 Vroom–Yago Decision-Making Styles Source: Adapted from V. H. Vroom, “Leadership and the Decision-Making Process,” Organizational Dynamics (Spring 2000): 82–94. Decide style Leader makes the decision alone and announces or sells it to the group. Leader uses his/her own expertise and may collect information from the group to help solve the problem. Consult individually style Leader presents the problem to group members individually, gets their ideas and suggestions individually, and then makes the decision. Consult group style Leader presents the problem to group members in a meeting, gets their suggestions, and then makes the decision. Facilitate style Leader presents the problem to the group in a meeting and acts as a facilitator by defining the problem to be solved and the constraints within which the decision must be made. Leader seeks concurrence from group members on a decision. Delegate Style Leader permits the group to make the decision within prescribed limits. Group undertakes the identification and diagnosis of the problem and the development of alternative solutions and makes the decision on the selection of alternative(s).
  • 29.
  • 30. Figure 6. 4 Vroom and Jago Decision Model Instructions: The matrix operates like a funnel. You start at the left with a specific decision problem in mind. The column headings denote situational factors which may or may not be present in that problem. You progress by selecting High and Low (H or L) for each relevant situational factor. Proceed down from the funnel, judging only those situational factors for which a judgment is called for, until you reach the recommended process.
  • 31.
  • 32.
  • 33.
  • 34.
  • 35.
  • 36.
  • 37.
  • 38.
  • 39.
  • 40.
  • 41.
  • 42. Responses to Decision Situations Responses require creativity. Responses are routine. Alternatives are not familiar to decision makers. Alternatives are familiar to decision makers. Nonprogrammed Decisions Programmed Decisions
  • 43.
  • 44.
  • 45. Table 6. 4 Strategic Decision-Making Matrix Objectives Increased Increased Total Increased Share Output Weighted Profit Market Production Score Alternative 0.5 0.3 0.2 Strategies/ Weight Product 2 2 3 0.5(2) 1 0.3(2) 1 0.2(3) 5 2.2 development Horizontal 4 2 2 0.5(4) 1 0.3(2) 1 0.2(2) 5 3.0 integration Joint venture 5 3 3 0.5(5) 1 0.3(3) 1 0.2(3) 5 4.0
  • 46.
  • 47.
  • 48. Figure 6. 5 The BCG Growth-Share Matrix
  • 49.
  • 50.
  • 51. Table 6. 6 Illustration of Industry Attractiveness and Business Strength Computations Source: Adapted from Strategic Management: Text and Cases on Business Policy by Hesmer, © 1984. Reprinted by permission of Prentice Hall, Upper Saddle River NJ.
  • 52.
  • 53. Figure 6. 6 The GE Industry Attractiveness/Business Strength Matrix
  • 54.
  • 55.