discussion question response

Michelle Mc

Decision making within organizations must have the goals and focus in mind; so as to maximize[MM1]  the returns for the shareholders. Those decisions should also relate to the mission and goals; in order for the company to achieve its objectives with proper strategies in place. A rational approach to decision making will assist in the reduction of uncertainty. The decisions made by an organization are made on various levels within the organizations hierarchy. These are strategic decisions, tactical decisions, and operational decisions; strategic decisions are those decisions made with long-term impact which affect the direction and shape of the entire entity. Generally, these decisions are made by senior management. Tactical decisions are made to assist in the implementation of strategy, usually made by middle management. Finally, operational decisions are related to the day to day operations in running the business, usually made by junior or middle management.

Three techniques that can be implemented to improve decision making processes are first to be less certain. This is the first rule of decision making, just learn to be less certain about the outcome, assure that you are not overconfident. The second rule is to ask yourself how often does it happen? The idea with this particular technique is to get away from the inside track, where the certainties of the decision overtake the analysis of the problem. Third, think about the decision probabilistically, this one may take some time to implement over the others that can be immediately implemented to improve decision making processes.

Present day research studies show that businesses can benefit from the encouragement of self-regulatory decision making processes. Training in dynamic decision making that supplements self-reflection may lead to decision making that is more successful. Self-reflection can happen in a very brief break, and the influence on behavior should result in a positive impact at the organizational level.

References

Donovan, S. J., Guss, C. S., & Naslund, D. (2015). Improving dynamic decision making through training and self-reflection. Judgement and Decision Making, 10(4), 284-295.

Frick, W. (2018, January 22). 3 Ways to Improve Your Decision Making. Retrieved from https://hbr.org/2018/01/3-ways-to-improve-your-decision-making

Schwartz, M. S. (2016). Ethical decision-making theory: An integrated approach. Journal of Business Ethics, 139, 755-776.

 

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Michele McDaniel

1 hour ago

Decision making within organizations must have the goals and focus in mind; so as to maximize[MM1]  the returns for the shareholders. Those decisions should also relate to the mission and goals; in order for the company to achieve its objectives with proper strategies in place (Schwartz, 2016). A rational approach to decision making will assist in the reduction of uncertainty (Schwartz, 2016). The decisions made by an organization are made on various levels within the organizations hierarchy (Schwartz, 2016). These are strategic decisions, tactical decisions, and operational decisions; strategic decisions are those decisions made with long-term impact which affect the direction and shape of the entire entity (Schwartz, 2016). Generally, these decisions are made by senior management. Tactical decisions are made to assist in the implementation of strategy, usually made by middle management (Schwartz, 2016). Finally, operational decisions are related to the day to day operations in running the business, usually made by junior or middle management (Schwartz, 2016).

Three techniques that can be implemented to improve decision making processes are first to be less certain. This is the first rule of decision making, just learn to be less certain about the outcome, assure that you are not overconfident (Frick, 2018). The second rule is to ask yourself how often does it happen? The idea with this particular technique is to get away from the inside track, where the certainties of the decision overtake the analysis of the problem (Frick, 2018). Third, think about the decision probabilistically, this one may take some time to implement over the others that can be immediately implemented to improve decision making processes (Frick, 2018).

Present day research studies show that businesses can benefit from the encouragement of self-regulatory decision making processes (Donavan, Guss, & Naslund, 2015). Training in dynamic decision making that supplements self-reflection may lead to decision making that is more successful (Donavan et al., 2015). Self-reflection can happen in a very brief break, and the influence on behavior should result in a positive impact at the organizational level (Donavan et al., 2015).

References

Donovan, S. J., Guss, C. S., & Naslund, D. (2015). Improving dynamic decision making through training and self-reflection. Judgement and Decision Making, 10(4), 284-295.

Frick, W. (2018, January 22). 3 Ways to Improve Your Decision Making. Retrieved from https://hbr.org/2018/01/3-ways-to-improve-your-decision-making

Schwartz, M. S. (2016). Ethical decision-making theory: An integrated approach. Journal of Business Ethics, 139, 755-776.

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