MGT 300 Lecture Notes - Lecture 7: Delphi Method, Groupthink, Nominal Group Technique

• School: Ball State University
• Department: Management
• Course: MGT 300
• Professor: Marcus Trice

Document Summary

Chapter 7: decision making, learning, creativity, and entrepreneurship. Decision making*: the process by which managers respond to opportunities and threats by analyzing options and making determinations about speci c organizational goals and courses of action. Decisions in response to opportunities: occurs when managers respond to ways to improve organizational performance to bene t customers, employees, and other stakeholder groups. Decisions in response to threats: events inside of outside the organization are adversely affecting organizational performance. Programmed decision making*: routine, virtually automatic decision making that follows established rules or guidelines. Non-programmed decision making*: non routine decision making that of cers in response to unusual, unpredictable opportunities and threats. Intuition: feelings, beliefs, and hunches that come readily to mind, require little effort and information gathering, and result in on-the-spot decisions. Reasoned judgement: a decision that requires time and effort and results from careful information gathering, generation of alternatives, and evaluation of alternatives.