Keys to Successful Decision Making in Management
Keys to Successful Decision Making in Management
The article I am about to present is a good example of decision-making. The reason I chose this article is because it has a good example of a decision making to reach managerial success and it is definitely related with my course objective. From the article, I get that decision-making process is one of the most basic factors that can influence the competence of an organization and it is usually connected with the future prospects of a company. The article also states that decision-making is also a factor that can show the success of a manager or the failure of him. Although the fact that a manager must have many skills in order to succeed in his task, it is important to have good judgment in decision-making since the facts are changing day by day. This is the second reason, which shows the importance of decision-making process as the organizations are facing new challenges.
The article also handles the decisions in two categories. Programmed decisions are defined as canned responses to situations and the non-programmed decisions are the ones that are new and need creative program solving. Followings are the stages of rational decision-making model defined by the article and I think it is the strength of that article to understand the idea of decision-making.
ü To identify clearly what the problem is.
ü Develop a list of the alternatives courses of action.
ü Choose a solution from the list
ü Implementation
ü Evaluation of the choice
I learned that at the first stage of decision-making the important fact is how the manager will understand where is the problem and they use some standards in order to analyze the problem. The second stage in a decision-making process is the development of alternatives in relation with the problem that has been nominated. This also requires for the manager to have experience and creative power. According to the article the key is to develop a list with as many choices as possible to improve the quality of the alternatives. When the alternatives are listed, the managers analyses them to choose the best alternative. The article also says that the process of decision-making is not ended after the choice is made. The next stage is implementation to understand the effectiveness of the decision. And the final stage is to monitor the success of chosen alternative, which is called the evaluation stage.
The article also suggests...