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BM_Ch 6

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Business Management chapter 6

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BM_Ch 6

  1. 1. Chapter 6 Managerial Decision Making
  2. 2. New Manager’s Questions When a manager makes a well-reasoned decision, the next course of action is implementation. 1 2 3 4 5 Mostly Yes Mostly No (c)2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  3. 3. New Manager’s Questions It is almost always better to get full agreement from others when making a decision. 1 2 3 4 5 Mostly Yes Mostly No (c)2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  4. 4. New Manager’s Questions The increased technology in the workplace keeps people too disconnected from one another, making it harder to get their jobs done. 1 2 3 4 5 Mostly Yes Mostly No (c)2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  5. 5. Why Do Managers Make Bad Decisions  Being influenced by initial impressions  Justifying past decisions  Seeing what you want to see  Perpetuating the status quo  Being influenced by problem framing  Overconfidence (c)2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  6. 6. Information Technology Has Transformed Management Enterprise Resource Planning Systems – Integrate and optimize all business processes across the entire firm – It collects, processes, provides information abut an organization’s entire enterprise including orders, product design, production, purchasing, inventory, distribution, human resources, receipt of payments and forecasting of future demand – Can cut costs, shorten cycle time, enhance productivity and improve relationships with customers and suppliers (c)2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  7. 7. Examples of ERP Application (c)2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  8. 8. A New Generation of Information Technology  Blogs  Wikis  Social Networking  File Sharing and Collaboration (c)2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  9. 9. The Internet and E-Business • Organizations are integrating and adopting e-business strategies • E-business – any business that takes place by digital processes over a computer network • E-commerce – business exchanges or transactions that occur electronically (c)2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  10. 10. The Internet and E-Business • Businesses like eBay, Amazon, Expedia and Yahoo! exist because of the Internet • Companies like Macy’s the U.S. Postal Service and General Electric extend to the Internet* (c)2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  11. 11. The Internet and E-Business • Intranet – internal communications system that uses the technology and standards of the internet but is accessible only to people within the company • Extranet – external communications system that uses the internet and is shared by 2 or more organizations (c)2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  12. 12. The Key Components of E-Business (c)2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
  13. 13. Strategies for Engaging Clicks with Bricks (c)2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

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