Management (T2) by Richard L. Daft Chapter 9+10+14+15+16 everything to pass your second MNO exam by Roibin

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Management and Organization Chapter 9 – Managerial Decision-Making
Managers are often referred to as decision-makers, and every organization grows, prospers, or fails as a result of decisions by its managers. Many manager decisions are strategic, such as whether to build a new factory, move into a new line of business or sell of a division. Yet managers also make decisions about every other aspect of an organization, including structure, control systems, responses to the environment and human resources. Decision A choice made from available alternatives Decision-making The process of identifying problems and opportunities and then resolving them. Programmed decision A decision made in response to a situation that has occurred often enough to enable decision rules to be developed and applied in the future. For example the decision to reorder office supplies when inventories drop low. Non-programmed decision A decision made in response to a situation that is unique, is poorly defined and largely unstructured, and has important consequences for the organization. For example the decision to build a new factory or move headquarters to another location.

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Certainty The situation in which all the information the decision-makers needs is fully available. Few decisions are certain in the real world, most contain risk or uncertainty. Risk A situation in which a decision has clear-cut goals and good information is available, but the future outcomes