DECISION MAKING
Decision making is really important in management planning. It can influence the actions of others and it also will create consequences either good or bad. Manager frequently need to do decision making relating to planning, staffing, organizing and supervising. Good decision making will optimize the output or performance in an organization. IBM has conducted decision management in their company. This decision management divided to two group: Operational decision management and Analytical decision management. Each management focus on the different areas depends on what kind of problems. Operational decision management was enabled by business rule management while analytical decision management was enabled by predictive analytics.
Of course, there are no company that have a perfect decision management. IBM decision management also contain some flaws in it. IBM decision making are not as fast as they should be. IBM management often respond too slowly to the challenges or to any opportunities. The reason why they have this problems is they don't really have a fine corps of managers. IBM managers not really sure about their authority that has been giving to them so they not using all the authorities that they have. IBM was also often respond too slow because of "too much" factors in their management such as too much discussions, too many committee decisions, too many levels of approval before they want to make it happens and too much group think. IBM should really reduce all of this factors and push on individual decision making in order to achieve higher jobs completion at the lowest possible level amount of discussions, consultation and approval from many levels. Good managers should have good decision...
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...ronment of today have change and very different. In order for IBM to survive in next 100 years, IBM need to have a set of the management practices that practical in today business environment. IBM will need to learn, adapt and adjusting to a changing world in major crisis by loosening some edges and make radical changes to their management practices. There are few ideas and recommendations that might help IBM striving their objectives in this modern age such as keep focusing on the biggest opportunities, keep existing capabilities while adding new ones and use an information list to plan for the future. IBM managements need to have strategic risk taking to create exponential growth by using different resources from around IBM. IBM also can improve their management by developing IBM people and community. This will help in investing for the future leadership in IBM.
In my understanding, management has had only to do with preserving the current status of thing so that today’s methods of production are upheld even tomorrow. The process of managing things. However, as Deming and Lee point out, management and leadership must be innovative enough to look into the future and examine if today’s methods will be relevant tomorrow to yield even more results. Effective management and leadership calls for flexibility to ensure that changes are welcomed and any adjustments deemed necessary are taken into consideration so as not to miss out on any opportunity
Implementation of organizational growth falls to the responsibility of upper management and they develop the strategic plan for the company to flourish in the projected economic market. Oversight of this senior team can hinder the organizational projected strategy into a viable organizational process that today’s global market places high demands that make it very difficult to attain these goals or plans and bring all effort to no avail of achieving projected growth and strategy of the organization. Essential that key employees do not lack the skill to delegate responsibility as well as expect results that promote organizational growth and adherence to the strategy set by senior
What tools are available to assist teams in making a decision? In addition to creating an environment for effective decision making and reaching consensus on methods for making decisions as a team, there are tools that can assist teams in formulating and reaching decisions. Many of these tools were developed in the 1990s as companies working on improving quality and introducing self-managed team into the workplace. In decision-making there are many different decision-making models to assist us along the way. One thing with every decision- making model there are several decision-making tools needed to help narrow down the amount of information to only the ideas that are relevant to the decision at hand. In this paper we are going to examine one of the many different decision-making tools that can assist us in this process. The specific decision-making tool we shall discuss is for team-based decisions.
The world has grown increasingly complex, resulting from the greater interdependence among world economies (Thompson, 2002). Successful organization is largely determined by how well the organization adjusts all its tangible and intangible properties to keep itself on track with its surrounding (Armenakes & Bedeian, 1999). Strategy was concerned to manage firm’s activities and resources to the environment in which it operates. This essay will analyse the micro and macro external environment in the part five years (2000 to 2006) of IBM Company by using PESTEL and five forces model to analyse in the first part. The second part will discuss about the advantages and disadvantages of the two possible alternative strategies for IBM.
Toyota seemed to be suffering from a major problem with their decision making. Decision making for an organization the size and influence of Toyota needs to be top of mind for its management structure, from the CEO down to the supervisors in their manufacturing facilities.
Along with the rapid development of economy and society, the companies have to own skills to adapt, cater, and transfer new knowledge, and try to modify their activities to reflect insights. Strategic management evolves
According to Management Consultancy Association, “management consultancy is the creation of value for organisations through the application of knowledge technique and assets to improve business performance. This can be achieved through the rendering of objective advice and or the implementation of the business solutions” (O’Mahoney 2010).
Thinking critically and making decisions are important parts of today’s business environment. It is important to understand how the decision making process works and the steps involved. The nine steps of the decision making process are: identifying the problem, defining criteria, setting goals and objectives, evaluating the effect of the problem, identifying the causes of the problem, framing alternatives, evaluating impacts of the alternatives, making the decision, implementing the decision, and measuring the impacts. (Decision, 2007.) By using various methods and tools to assist in making important business decisions an individual can ensure the decisions they make will be as successful as possible. In this paper it will be examined how the decision making process can be followed using various tools and techniques to make successful business decisions by using these same tools and techniques during a thinking critically business scenario. The paper will also discuss how different tools and techniques could have been used to make different, yet still successful decisions.
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...
Management will continue to encounter new challenges that require problem solving and decision-making strategies. Some problems may be easily resolved while others could take much longer depending on the complexity of the problem. In order for management to make effective decisions and achieve success for their businesses, the decision makers need to have adequate knowledge of the situation, critical thinking and excellent communication skills, and a sophisticated approach for tackling problems. Every business should have a systematic approach for solving problems and making decisions. Without one, decision making would be insufficient and businesses would be unproductive.
An employee does an unsatisfactory job on an assigned project. Explain the attribution process that this person's manager will use to form judgments about this employee's job performance.
According to Wheelen & Hunger, strategic management “is that set of managerial decisions and actions that determines the long-run performance of a corporation. It includes environmental scanning (both external and internal), strategy formulation (strategic or long-range planning), strategy implementation, and evaluation and control” (2004, p2). All eleven good to great companies are benefit from strategic management and gain long term strategic advantage then lead to outperforming compared companies.
“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.
Decision making is one of the most important aspects in life and work because of its strong link to success and effectiveness. Actually, successful people achieve their goals in life and work through effective and efficient decision making. The decision making process is usually guided by an individual’s beliefs, values, and attitudes as well concepts. While a person can use various concepts in making decisions, they should be very careful to select a concept that is effective and contributes to huge success. Nonetheless, these concepts exist to help an individual become a better decision maker in the world around him/her.
Strategic management has shown to enhance the company’s profits and market shares. Companies need to utilize strategic management in order to improve that their performance and organizations are set. Some of the benefits of strategic management are it brings new opportunities and development, the manager is more involved in their job role, the quality of the company is enhanced, implementing models that will bring the company growth and profits, it helps the manager to be organized in order for them to be successful, it brings certainty to the company, and provides management with a guide to what the company is needing to accomplish with their goals for the future. According to Nmadu (2007) he stated “strategic management has become more important to managers in recent years and defining the mission of their organization in specific terms have made it easier for managers to give their organization a sense of purpose” (Dauda, Akingbade, and Akinlabi, 2010, p.100). Strategic management can also have its disadvantages. A few disadvantages are time and effort that is put into the company, and discussing what is important for the company’s long-term goals. Another disadvantage is managers stay on the planning stage but forget to implement and take control of the plan. If strategic management is not enforced than this can cause effects on the companies market shares, and profitability. Enforcing a strategic plan will play a major role in the companies