...Abstract People make decisions every day. Whether they are as easy as deciding if they want to eat breakfast or as complicated as choosing their life partner. Decision making is a continuous activity human kind does on a daily basis. The same approach is taken in the business world. From the decision as simple as to when to answer the phone to the decisions as complicated as terminating an employee for misrepresentation and fraud. My experience in decision making models has been quite extensive when it comes to creating “How to” processes and timeframes. What is your experience with decision-making models? Decision making is a constant activity humans do on a daily basis for our personal lives and in the business world. Decision from as simple as picking the right furniture to divestitures and acquisitions; business decisions are an every day task. In order to make the right choices businesses develop “how to” models or procedures to help them take the best decisions based on the information available at the time and using the existing resources. My Personal Experience Current From counseling employees to persuading the president not to make changes to the current strategies, decision making is an every minute happening in my current role. One of my current responsibilities is managing the short and long-term disability policies. In order to be able to manage the volume of claims a model had to be created. My role was to identify the members of the committee and...
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...OBJECTIVE To ensure that Productivity at all levels is enhanced . To maximize profit and minimize expenses EDUCATION BACKGROUND SCHOOL/COLLEGE FROM_-_TO QUALIFICATION ZIBSIP College 2007 - 2008 ZICA-Technician MANSA High School 1997 - 2001 G.C.E Certificate KAMINSA PRIMARY 1989 - 1996 School Certificate EDUCATION IN PROGRESS ZICA LICENTIATE EXPERIENCE 2008-2010 Accontantant JKL Associates ltd -My responsibility was to maintain all the bank transactions,prepare the payroll,maintain all transactions between the company and Zambia revenue Authority. -Preparation of payments and receiving of receipts. -Keeping and up dating of all financial records this includes cash book,bank reconciliation,debtors and creditors register,petty cash custodian . 2004 – 2007 Mansa Diocesan council for Cathoric yourths treasurer -My responsibilities were to manage the HIV/AIDS projects 2003-2006 Chibeza...
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...What [is] your experience with the decision-making model? As people, we make decisions daily from what to wear to what to eat. Decision making will forever be a part of our day-to-day activity. However, as we all know the decision making process is frequently difficult and very complex. Personally, my experience with the decision- making model in the business world has been very broad from taking sale orders to deciding terminations. Currently, one of my job responsibilities as a manager of seven afterschool programs is to allocate funds. The characteristic that I find myself falling into under decision making model is that of non-programmed decisions. My job requires that I make “decisions that do not have established routines or procedures” (Gomez-Mejia & Balkin, 2002) to follow. For example, my job requires that I predict the amount of funds that will be paid out for payroll each month but because of the many factors that go into paying our staff. I can never give definite outcomes, rather only estimates. This lack of concrete information creates an unstable foundation upon which to base my decisions. Thus they tend to be viewed as (or deemed) uncertain. Making decisions in groups is another area of the decision making model with which I can identify with. Decision making in groups is stated to have its pros and cons. One of the pro’s is it allows for a greater diversity of ideas and opinion. Group decision making also can enhances decision acceptance as more...
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...writing this paper from my own personal experience in dealing with decision making models in the workplace. In this paper I will discuss methods on how to effectively use decision making models for decision making in the workplace. From my personal experience with decision making models in the workplace I will discuss my experience from a managers’ standpoint on how to use decision making models. In the workplace there are many different types of decision making models that managers can use. In most cases the decision making models will depend on the situation or problem that arises. When I was employed as an Assistant Store Manager at Rite Aid I had to make decisions on a daily basis. The type of decision making model that I am most familiar with is the rational decision making model. Throughout my career with Rite Aid I used this model on a consistent basis. One of the main reasons why I used a rational decision making model is because it provided the best results relating to decisions that I had to make. “According to (Chris Blake, The Art Of Decisions,2010) “Being more aware of the way we perceive and judge risk in an uncertain business world can help us make better decisions. How The Rational Decision Making Model Helped Me To Make Decisions In The Workplace: From the rational decision making model that I used in the workplace I was able to way out the options by being able to define the situation of the decisions that I had to make. Through this model...
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...describe the concept of managerial decision-making. It will look specifically at the ‘Rational Decision-Making Model’, exploring the shortcomings of this approach, and will suggest possible ways a manager could overcome these issues when striving to make a rational decision that will bring benefit to an organisation. Throughout this essay, empirical research and examples from academic literature will be presented to illustrate the discussion. Decision-making is arguably the single most important process in an organisation, being a basic task at all managerial levels. (Heraclious 1994) Rational Decision Making can be defined as choices that are consistent and value maximising within specified constraints. (Bergman, Coulter, Robbins & Stagg 2008) The ‘Rational Decision-Making Model’ is a structured process for essentially making a logically sound decision. The model is made up of a series of steps, with the details often varying, but generally including; recognition of the decision requirement, diagnosis and analysis of causes, development of alternatives, selection of alternative, implementation, evaluation and feedback. (Heraclious 1994) A person making a rational decision would be logical, fully objective, and would strive to select an alternative that maximises the likelihood of achieving their goal. (Bergman, Coulter, Robbins & Stagg 2008) There are a number of issues surrounding the effectiveness of the model for rational decision-making, and there has been a considerable...
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...ote ote technical note tech Air Traffic Control Specialist Decision Making and Strategic Planning – A Field Survey Jean-François D’Arcy, Ph.D., Titan SRC Pamela S. Della Rocco, Ph.D., ACT-530 March 2001 DOT/FAA/CT-TN01/05 Document is available to the public through the National Technical Information Service, Springfield, Virginia 22161 U.S. Department of Transportation Federal Aviation Administration William J. Hughes Technical Center Atlantic City International Airport, NJ 08405 NOTICE This document is disseminated under the sponsorship of the U.S. Department of Transportation in the interest of information exchange. The United States Government assumes no liability for the contents or use thereof. The United States Government does not endorse products or manufacturers. Trade or manufacturer's names appear herein solely because they are considered essential to the objective of this report. This document does not constitute FAA certification policy. Technical Report Documentation Page 1. Report No. 2. Government Accession No. 3. Recipient’s Catalog No. DOT/FAA/CT-TN01/05 4. Title and Subtitle 5. Report Date March 2001 Air Traffic Control Specialist Decision Making and Strategic Planning – A Field Survey 7. Author(s) 6. Performing Organization Code ACT-530 8. Performing Organization Report No. Jean-François D’Arcy, Ph.D., Titan SRC and Pamela S. Della Rocco, Ph.D., ACT-530 9. Performing Organization Name and Address DOT/FAA/CT-TN01/05 ...
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...HOLIDAY DECISION MAKING: PROCESS OF LEISURE DISCOVERY AND ADAPTABILITY. The following essay attempts to discuss and critically evaluate the traditional problem solving, cognitive model of consumer decision making process with that of holiday decision making. The writing begins with the introduction phase which discusses the traditional model of consumer decision making process. The following subsection discusses the sequential stages involved in the traditional consumer decision making, following is a comparative analysis between holiday decision making and traditional consumer decision making based on the stages involved in traditional consumer decision making. A conclusion that summarizes this study follows thereafter. I. INTRODUCTION “Consumer behavior reflects the totality of consumers’ decisions with respect to the acquisition, consumption and disposition of goods, services, activities, experiences, people and ideas overtime.” (Wayne D. Hoyer, Deborah J. Maclnnis 2008). This means that as much as the consumer will purchase a certain product e.g. soap, based on his preference of brands, he may also purchase a product such as a book just because it has been written by a popular author. Consumer decision making is about market choice behavior where consumers must make a decision between two or more competing alternatives, and thereafter decide on whether to purchase the alternative. The consumer decision making process is the stages that a consumer goes through in order...
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...1 McKinsey Global Survey Results McKinsey Global Survey Results: How companies make good decisions How companies make good decisions Companies get a lot of advice about how to make good decisions. Which decision-making disciplines really make a difference? Do strong decision-making processes lead to good decisions? This McKinsey survey highlights several process steps that are strongly associated with good financial and operational outcomes. In the survey, we asked executives from around the world about a specific capital or human-resources decision their companies made in the course of normal business. We learned who was involved, what drove the decisions, how deep the analysis was, how unfettered the discussions, and how and where politics were involved. Respondents also described the financial and operational outcomes of the decisions.1 The results highlight the hard business benefits—such as increased profits and rapid implementation—of several decision-making disciplines. These disciplines include ensuring that people with the right skills and experience are included in decision making, making decisions based on transparent criteria and a robust fact base, and ensuring that the person who will be responsible for implementing a decision is involved in making that decision. Finally, although corporate politics sometimes seems to undermine strong decision making, some types of consensus-building and alliances apparently can help create good outcomes. 1 The survey...
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...RELATION OF PERSONALITY FACTORS AND DECISION-MAKING STYLES OF HAKIM SABZEVARI UNIVERSITY MANAGERS FATEMEH BAHRAMI*, MOHAMMAD AMIRI*, ESLAM PARANDVAR* *Hakim Sabzevari University, Assistant Professor at Department of Educational Psychology, Sabzevar, Iran. **Hakim Sabzevari University, Department of Educational Psychology, Sabzevar, Iran. ***Hakim Sabzevari University, Department of Educational Psychology, Sabzevar, Iran. Pinnacle Research Journals http://www.prj.co.in 46 ABSTRACT The present study was conducted in order to examine the relationship between the personality traits and the decision making styles of the managers of Hakim Sabzevari University. The statistical population includes all the managers of Hakim Sabzevari University who are in-charge of different positions. The number of managers is seventy people, 60 subjects based on Morgan Table were selected using simple random sampling method. The instruments used in the present study are Scott and Bruce General Decision Making Styles Questionnaire (1995) and NEO personality traits questionnaire. In order to analyze the data, description and inferential statistics including Pearson, step by step regression, t test, unidirectional ANOVA and Tokay follow-up test were used. The results indicated that: the marital and single status did not affect the decision making styles of the manager and education and experience only affected the avoidance decision making styles. The extroversion and consciousness...
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...Assessment 2: Peer decision analysis 12th October 2012 Australian catholic university Vo tuong vi nguyen In this paper, I will provide an account of decision problem in the workplace. This problem occurred in the restaurant where workers got conflicts during working hours. One of my peers, Lohnet Barton has introduced the final solution for the manager. From my own perspective, I will carefully explain the incident and analyses the way that Lohnet resolved the conflicts. Also; I will carefully do examination in the process that she took in order to decide which course of action that needs to follow. Besides, there will be an appropriate decision making strategy that was used as an effective tools in Lohnet decision making journey. To make it easier, I will begin by shortly giving the readers the whole picture of the situation that took place. It’s good to know that Steaky’s restaurant in the western suburb is a busy restaurant which has 8 staff members and 2 of that is waitresses. Linda is an outspoken employee who often argues with the male kitchen staffs about controversial topic such as abortion or gay marriage. Even sometimes the manager has noticed about the tension between her and the others staff, things seem go well. Unfortunately, One day after lunch time, the manager found a letter from Linda with vulgar language in which she criticized the male staffs and the worse management skills of the manager. She decided to quit the job and by the way asking for special condition...
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...DECISION MAKING PROCESS The decision making process is a sequence of certain steps which are discussed below. Before the decision making begins, it is important to specify objectives. If objectives are set, then only we start with problem identification and weighing alternatives available. A standard decision making process comprises of six steps but it is not mandatory that all steps are repeated for every decision in the organization. This process is usually followed for non programmed decisions because they are new, have environmental impact and a unique solution is to be found with lot of research. For programmed decisions, this exercise is simple because programmed decisions are routine decisions and framework within which decision is...
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...Model/Mindsets Paper Student Name OI/361 April 7, 2014 Instructor Name Mental Model/Mindsets Paper Reality representations that people use to understand and identify the particular phenomenon are known as mental models. Mental models represent assumptions that are deeply ingrained and they influence how people take action and how they understand the world. Mental models are developed over time through experience, socialization and interaction with others. They are opinions, beliefs, perceptions, assumptions, values and truths. Mental models are often hidden and one is not aware of them or their effect on one’s behavior. When mental models are created they become reinforced in the mind and it becomes hard to change them (Von Stamm, 2008). Vernon and Bud have been in this company for more than twenty years, thus there mental models are deeply rooted and difficult to change. It is hard to convince both of them to change their mental models or adopt new ones. The mental models that these two coworkers have impacted greatly on how they behave in the company and the decisions they make. Vernon is afraid of the expansion and Bud is against competing with other organizations. Changing Mental Model/Mindsets In any organization, change is constant, hence the need to keep changing mental models of employees. It is hard to change mental models since they are not forces that one is aware of consciously, but subconsciously. Vernon and Bud are against the new change that has been introduced...
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...The Role of Perception in the Decision Making Process. Your name Name of Institution The Role of Perception in the Decision Making Process Perception is more important than reality. It doesn’t matter what is reality if a person views it differently. One’s behavior is a direct result of the way he or she sees things. Two people may experience an event together, a car accident, for example; when interviewed there will be similarity in their accounts, but each will have a unique interpretation of the details. Why is this? According to Stephen P. Robbins, “The world as it is perceived is the world that is behaviorally important,” (Robbins, 2005, p. 134). Because people act on their perceptions, each person’s perception is his or her reality. This explains how reality can be different for different people. Perception must be considered in organizational behavior. Perception effects management decisions, whether deciding to hire a new employee, giving a performance review, or making a major decision regarding the direction to take their business. Perception also determines an employee’s job satisfaction and performance. Factors influencing perception are threefold, the perceiver, the situation, and the target or subject (Robbins, 2005, p. 135). One interprets situations or information in light of his or her own attitudes and experiences. If a person has had positive experiences in a similar situation, or with a similar type of manager...
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...members of the team to participate in any decision making processes. This is a very common style among new leaders and it is quickly becoming the preferred leadership style with many companies. A participative leadership style can further be broken into three subcategories: democratic, consultative, and consensus. Democratic: This type of participative leadership style is used best in environments where there is never a set constant and things are rapidly changing. Because these types of business are constantly evolving, all options or considerations for improvement must be taken into account. This styles allows for everyone including the leader to be able to speak openly and freely with any types of ideas or concerns that they may have. According to the article Leadership Styles: Choosing the Right Leadership Approach for the Situation (2014), democratic leaders encourage creativity, and people are often highly engaged in projects and decisions. The leader makes the decision based off of consensus of most of the members of the team. Consultative: This type of style puts a lot of the brainstorming ideas in the hands of the team members. It uses the skill sets of others. The team members are the generally those that represent their particular department and can speak on how certain actions can affect their department. The leader is usually doing other things that may or may not be related to the project that requires a decision to be made, but they provide feedback, recognition...
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...Decision making: intuition vs ability Some people have an advantage in decision making but it does not mean that they are talented. Special management theories and experience are mainly important. However, having knowledge is not enough. Great leader must be able to apply knowledge in business and life. Ahmed Sharawy (2013) pondered about reasons of advantages some people to another in making decisions. He claimed that be smart in decision making does not mean be special and extraordinary but be well developed and skilled. According to his article, in addition to respectable theories good leader must study on his own mistakes and failures to be enough experienced and be able to turn decision making into spontaneous process, excluding using intuition only. Another important point is that when probabilities get complicated, choosing the best decision becomes to be a difficult process and outcomes can be irrational. In such situations, regression models lead to more direct solutions. However, such models make decision making process absolutely systematic, reducing creativity. Author also describes “prospect theory”, according to which people look for more risks under negative effects and try to avoid it when they are positive. Moreover, he writes that businessmen must check their decisions before acting them. Sharawy describes research, which shown that decision makers sometimes deteriorating their performance and it is important to match decision making with groups...
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