As a manager, decision making is much more than simply making a decision. There are steps or methods he/she should take in order to evaluate the situation as well as the possible outcomes. This paper will discuss how managers can make ethical decisions and how they can remove any personal biases they may have. In addition, the paper will state how system one and two thinking affect business decisions and how a manager can keep these two types of thinking in balance. Furthermore, the paper will discuss how rational decision making affects negotiations, as well as suggested steps for a manager to negotiate properly. After, the paper evaluates creative problem solving and how it can help alleviate bounded awareness. Moreover, the papers state that the Kepner-Tregoe method guides a manager into assessing their decision and the risks associated with their decision. Finally, the paper discusses how overconfidence negatively affects a manager’s decision-making skills. After …show more content…
As I reevaluate my past decisions, I realize I would have handled the situation better. For instance, when taking a test, I would sometimes assume I would know the information and not study for the exam. When I got a poor grade I wouldn’t understand why and I would confront the teacher. Now having completed this course, I would have handled the situation differently. I have now learned being overconfident can cause a person to be unprepared and leads to poor outcomes. Thus, now I will study for all my tests, regardless if I feel I am competent on the topic. Furthermore, when confronting a teacher, I am now aware of how to handle a negotiation. I will first enter with confidence, as well as be sure I set and clarify my goals. Moreover, I will prepare for all outcomes. Overall, I believe this course has changed my decision-making skills for the better. In each situation I enter, I will now be able to make better, more ethical
There are two ways in which people make decisions in their daily life or at work: Intuitive or rational. If we talk about intuitive decision-making (IDM) we talk about the subjective decisions that are not based on any facts and purely instinctive, for example whether or not to cross the street. These decisions are fast occurring, have no any need for reasoning and are used if facts are unavailable or making a decision is very difficult.
Critical thinking and decision-making are related in more ways than people think. This paper will define critical thinking and decision-making according to the book Whatever It Takes. It will also present a personal definition of critical thinking and decision-making from the author of this paper. The relationship between the two will be explained as well as the benefits of being a critical thinker. The author of this paper will also show how critical thinking is present in his organization and how he implements critical thinking techniques on a daily basis.
Looking back at my first year of being a physical therapist and comparing it to today, I can definitely say that my strategies for clinical decision-making have evolved. I can attribute it to my past experiences in the field and the wealth of knowledge that I gained from working with other members of the healthcare team as well as the numerous CE classes that I have attended in the past. When I first started with geriatric home care (after leaving the SNF setting), my initial evaluation would take forever to finish. It only made sense because everything was new - from the patient’s environment, the information needed to be gathered, and of course, the patients themselves. I was trying to get all available information to allow me to reach
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...
Nowadays, businesses are going through stiff competition. Many companies put their best efforts in maximizing their market shares. In this race, those companies lose, which cannot utilize their available resources judiciously. This happens because decisions are made in hurried manner without thinking about the devastating consequences. If you are facing similar problems in making decisions, there are ways to rectify them and bring your business back to right track.
The course also challenged me and allowed me to think critically. Whenever I am faced with an issue I know that I should take steps to formulate an opinion. It’s always good to ask questions to clarify anything. Once all the facts are established, I know that I should assess them. Finally I am able to assert a carefully thought out opinion (3). After taking these steps can be sure my opinion is right and not just for me personally, but regarding others too.
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.
I understand my styles and behaviors better now. Too bad I didn’t take this course earlier in life. Understanding myself will help me understand other people better I believe. That will be helpful concidering the profession I intend to have.
Therefore, to achieve this objective, managers have to make choices in decision-making, which is the process of selecting a course of action from two or more alternatives (Weihrich & Koontz; 1994, 199). A sound decision making requires extensive knowledge of economic theory and the tools of economic analysis, that are directly related in the process of decision-making. Since managerial economics is concerned with such economic theories and tools of analysis, it is very relevant to the managerial decision-making process.
This paper will focus on the Rational Model for decision-making. The first section will describe the Rational Model for decision-making. It will identify all the steps of the Rational Model and what they entail. The second section will detail a recent job-related issue I was involved with. I will discuss the issue and show how the Rational Model of decision-making was effectively utilized to reach a decision.
Making decisions is an important part of our everyday life. Decisions define actions and lead to the achievement of goals. However, these depend on the effectiveness of the decision-making process. An effective decision is free from biases, uncertainties, and is deeply dependent on information and critical thinking. Poor decisions lead to the inability to achieve set objectives and could lead to losses, if finance is a factor. Therefore, it is important to contemplate about quality and ways to achieve it in decision-making, which is the focus of this paper. The purpose is to look into the needs of decision-making, including what one should do and what one should not do.
When it comes to the reasoning and problem solving of any issue there are various ways to come to a decision; thinking is the mental process that allows the people in the world to deal with it effectively, according to set goals, plans, ideas, and desires. Thinking involves the gathering of information that forms concepts and engages in problem solving, reasoning, and making precise decisions for the benefit of whom is concerned. Thinking according to Kirby and Goodpaster (2007),"is an internal mental process that uses information as input, integrates that information into previous learned material and the result may be knowledge or may be nothing". Creative thinking, logical thinking, and persuasive thinking are three types of thinking. Each of these types of thinking affects the critical thinking process in various ways. The three thinking types will be compared and contrasted, as well as applied to affects they have in the critical thinking process. Every person has a primary style of thinking that is used most to help in his or her decisions. Finally, critical thinking will be applied to the decision making process by using workplace examples.
I rarely have taken the time to analyze my values and how they match up with my behaviors. This course has encouraged me to rethink my actions and consider how I can further implement my core values in my life. I think I need to thoughtfully reflect on my core values and specifically plan how I transform my behaviors. Although, I am more aware that some of my behaviors and values don’t match up, I don’t think I have been able to make many changes yet. Hopefully, I can continue to work on having my behaviors reflect my values because I don’t want to look back and wish that I acted differently in certain situations. There is really no excuse for why my behaviors shouldn’t follow my values because if truly value those things, I should be able to recognize that my behaviors might need to be adjusted. I have said that I value helping others but I think I need to find ways to implement this more in my life. Not only do I want to explore ways to help others, I want to be more thoughtful about my comments and how I treat others. I don’t particularly think my behaviors have transformed that much over the last couple of weeks but I am glad that I have been able to see where I need to make changes and have goals for myself. The true test of this class will be to look back months from now and see how I committed I am to becoming a “better” me. I think balancing my behaviors and values will come with time and consideration but also it is up to me to make the changes I want to see in myself.
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