MGT 3200 Study Guide - Midterm Guide: Synectics, Bounded Rationality, Nominal Group Technique
Document Summary
Exam two objectives (from the notes & outside reading) Is decision-making a function of management: no. Programmed to the extent that they are repetitive and routine. Specific procedures have been developed for handling them: first line mgt makes programmed decisions! They just follow orders set by upper levels of management: certainty & risk, handled through rules, standard operating procedures, etc, non-programmed specific to management problems that are novel and unique. Complex and unstructured, therefore there is no established procedure to handle them. You have to think about it and break the barrier of conceptual skills: top mgt makes most of non-programmed decisions! Manager knows all available alternatives and outcomes associated with each. Manager has perfect knowledge about everything that (cid:272)ould possi(cid:271)l(cid:455) happe(cid:374), (cid:271)e(cid:272)ause it"s (cid:1005)(cid:1004)(cid:1004)% p(cid:396)o(cid:271)a(cid:271)ilit(cid:455) absolute certainty. Manager picks the alternative with the best outcome: what is decision-making under conditions of risk, most common condition!
