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Decision making reflections
Decision making in economic
Decision making in the business full essay
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Decision making is important in leadership. Effective leaders are not afraid to make tough decisions, even when is unpopular (Fretty, 2005). As leaders, decisions are made constantly and unfortunately, there are many that will certainly be unpopular but must be made for the good of the organization. Among the daily noise and chaos in the upper echelons, leaders realize each decision must be carefully thought through and analyzed in order to make the best decision for the particular situation (Davenport, 2009). Devise Products Unlimited (DPU) is a such company; facing chaos and going through some rapid changes, it is critical to thoroughly analyze the decision-making process. Further, due to the newly acquired government contract, the need …show more content…
As leaders, decisions are made every day, some more complicated than others, and many with serious consequences. Depending on the leadership style and the type of decision that must be made, there are various styles of decision-making at a leader’s disposal; for example, directive, analytical, conceptual, or behavioral (Azeska, Starc, & Kevereski, 2017). In the behavioral style of decision-making, it requires the leader to have deep concerns of the organization and the staff. Further, the behavioral style is used by leaders who are supportive of other’s goals and achievements and seeks suggestions from others when making decisions (Shavit, Cohen, Bogair, & Benzion, 2014). In the case of DPU, CEO Thomas made an authoritative and directive decision, using his logic and rational to make a quick decision without seeking suggestions from others in the organization. Perhaps, if CEO Thomas would have considered the ramification of others in his organization and was open to suggestions, a different decision would have been made. Directive styles are used by leaders who tend to be aggressive and autocratic, and decisions are made with minor information with no tolerance for vagueness or consensus (Azeska et al., 2017). Although directive style decision making might be appropriate for simple or insignificant changes, it would have been more appropriate to use the behavioral style of decision-making for creating a new executive position in an
Too many instances of leaders just agreeing with staff recommendations and taking a far too conservative approach in their decision making has affected many units because many times decisions and actions are approached way too late. This article shows that objectively assess the information presented and making an effective decision within a reasonable timeframe would increase the effectiveness of each decision.
The CEO’s Day Overview This case examines the multiple duties that the President and CEO of Midvale Community Hospital, Terry Blaze, participated in throughout the day to ensure that the hospital is running effectively. Throughout the day, Blaze attends numerous meetings, which are directed towards improvements, changes, or concerns that will overall affect the hospital. During several of them, he is required to make final decisions; however, he often directs other personnel to make that final judgment call. It was evident that Blaze wore many hats as the President and CEO of the hospital, which made it evident that his time was stretched thin. This could result in tasks going unfinished or completed incorrectly.
Delegating leadership responsibilities to in-groups poses a challenge of building a strong structure with a clear understanding of procedure. On the other side, if the leader cuts followers out of the decision making process, the newly formed relationships will suffer. The Normative Decision Model offers a recommendation for the ways leaders “adjust their decision style depending on the degree to which the quality of the decision is important and the likelihood that employees will accept the decision (Nahavandi, 2015).” An easy first step for leaders is to understand how many people will be effected by the decision (Nahavandi, 2015). Does it only concern an individual or is the whole group going to be impacted? Using the decision tree on page 76 of Nahavandi’s The Art and Science of Leadership (2015), leaders can effectively identify the appropriate decision style needed. A leader must adopt an autocratic style when the quality of the decision is not significant, when employees disagree, and when the employees don’t see eye to eye with the organizations goals (Nahavandi, 2015). While a consultative style is necessary when the employees will hold the responsibility of implementation; especially when employees agree with the overall goals of the organization (Nahavandi, 2015). Finally, “group oriented decision style should be used when the leader does not have all the information, and
Although, there are some leaders who are born “natural-born leaders” many must learn the skills to become a successful leader. Every leader has natural strong traits as well as weak areas that need improving. A leader becomes stronger while using their natural talents as well as building on their weaker ones.
Decision making is a task which needs utmost balance on the part of the leader. One sided decisions when team input is necessary or resources going into a lot of group decision making process when the decision itself is not so crucial can turn out to be big result influencing part of the outcomes of a leadership experience. Leadership demands a lot of adaptability where the style of leadership to be followed, a complete leader driven or group driven is to chosen based on the type of decision to be taken and the situation in which the decision is to be taken.
Toyota’s decision making structure is largely focused on management, despite the fact that the company operates in a highly dynamic and uncertain global environment. Toyota’s decision making proces...
Some decisions prove to be vital and any miscalculation that may be involved may prove dire for the individual or the organization. In identifying the criterion to use while evaluating different decisions, many factors pertaining the structure should be considered. The pros and cons of every decision made should be evaluated to ensure that the option chosen has the most positive effect on the individual and the organization. Some of the activities that may require keen decision making include project development, finance and operations. With the knowledge attained it will be easier to cope with tough decisions that may come up in my career. Decision making models may be generated to give an in depth view to the problem and also provide critical analysis ability. It is also vital noting that for those in managerial positions, they face a bigger task in decision making. A good understanding of the business function and structure will provide an in depth knowhow to those that have studied the
Leadership and Management are two very important positions to have for anyone in an organization. Both of these positions come with a great deal of responsibilities; however, they both serve two different purposes and responsibilities in an organization, along with a different sent of guidelines. This paper will differentiate between Leadership and Management, give two recommendations to create and maintain a healthy organizational culture and give two examples to support the recommendations.
Making business decisions involves choosing between alternative courses of action. Many factors affect business decisions, yet analysis typically focuses on finding the alternative that offers the highest return on investment or the greatest reduction in costs. Some decisions are based on little more than an intuitive understanding of the situation because available information is too limited to allow a more systematic analysis. In other cases, intangible factors such as convenience, prestige, and environmental considerations are more important than strictly quantitative factors. In all situations, managers can reach a sounder decision if they identify the consequences of alternative choices in financial terms. This unit
Managers should be ready to teach the importance of decision-making skills and reinforcing organizational policy. Avoiding hasty, careless decisions, which can have devastating results on the manager's unit or the entire organization. Decisions made with forethought, using the many managerial tools available will lead to better and more profitable operatio...
“Decision making is a process of first diverging to explore the possibilities and then converging on a solution(s). The Latin root of the word decision means "to cut off from all alternatives". This is what you should do when you decide.” (Kotelnikov, 2008). In fact, the decision making process helps reduce doubt and uncertainty about alternative choices to allow individual to choose the best reasonable choice. In addition, the decision making process can make the difference between a successful and an unsuccessful organization. Consequently, management tries to use the best techniques and tools possible to make the best decision. Nowadays, most organizations seem to think that they have the most effective and efficient decision making process. So what are the different styles of decision making processes have organizations implemented? In order to answer this question, the team members will investigate and observe the decision-making processes most prevalent in their organization. As a result, these papers will first compare and contrast the problem identification and formulation styles in the team members’ organizations. Then the most favorable aspects of each style will be discussed to describe a process by which a problem can be identified and described to stakeholders in a manner that is sensitive to their perspective.
In addition, (Amandi et al, 2004) makes us understand issues related to leadership decision and also gives a clear overview on leadership theories.
Managerial decisions are an important component in achieving the objectives of the organization. The success or failure of a business depend upon the decisions made by managers (Jurina, 2011). Today’s increasing complexity in the world of business brought forth greater challenges for both the firm and its managers. The rapid rate of technological and digital advance as well as greater focus product innovation and processes that influence marketing and sales techniques have contributed to the increasing complexity in the business environment.
The monumental consequences of strategic decisions call for individuals with unique performance abilities who can navigate the volatility, uncertainty, complexity, and ambiguity. inherent in the nature of those decisions. Aspiring leaders can rise to the challenge by undergoing self-assessment and personal.
The first section describes the decision story, which narrate my choice and how I went about it. Next, the paper looks into the frames used and missed in my decision-making. Here, I also describe the influence of mental structures in making judgments. The third section reviews the intelligence gathering procedures, where I describe my approaches in information collection and minimizing uncertainties. This section also mentions the negative influence of availability bias, as mention by Schoemake and Russo (2002) and Kahneman (2011). The fourth section looks into the conclusion, where I explain how I concluded that Organization Leadership was the best choice. In ending the research, I will also reflect on my personal growth since I made the decision and its impact on my future, as