MGMT 325 Lecture Notes - Lecture 3: Satisficing, Decision-Making, Groupthink
4 Apr 2016
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Decisions encountered and made before having objectively correct answers and solvable by using simple rules. Identifying and diagnosing the problem: typically a manager realizes some discrepancy between the current state and desired state. Ideas have been seen or tried before: custom made solutions. New creative solutions designed specifically for the problem. Evaluating alternatives: involves determining the value or adequacy of the alternatives that were generated, which solution will be the best. A decisions realizing the best possible outcome: satisficing. Choosing an option that is acceptable although not necessarily the best or perfect: optimizing. Achieving the best possible balance among several goals: implementing the decision. Determine how things will look when decision id fully operational. Chronologival order the steps necessary to achieve a fully optimal level: evaluating the decision. Feedback that suggests the decision is working implies that the decision should be continued and applied elsewhere in the organization.
