Managerial Decision Making and Organizational Change
Two very important aspects of good leadership include managerial decision-making and managing organizational change. The two are closely related, enough so that for one to be affective the other has to be just as successfully managed. A good leader possesses the quality of good managerial decision-making, learning from experience, creating change, diversity and creative decision-making (Hellriegel, 2011). A successful leader is also one who is organized in the process of change (Hellriegel, 2011). Today’s leaders have different challenges than managers of businesses from over a decade ago. New technology has helped coordinate structure more efficiently and improved cost performance (http://www.kmbook.com /change/). As recently as the 1980’s new stresses such as balancing with shareholders, narrowing down operating efficiency, working with world markets and an entirely new form of competition, have all increased the demand for leaders good decision making and creating organized change. The success of any business heavily relies on these two factors.
One of the key factors in a successful manager managerial decision-making that relies on: learning from experience, creating change, diversity and creative decision-making (Hellriegel, 2011). Learning from experience is a vital piece of decision-making as it helps figure out what a business should and should not do again. Three pieces to this process include assessing certainty, risk and uncertainty (Hellriegel, 2011). When thinking about certainty, a manager has to be informed about the problem at hand, figure out alternative solutions based on past events, address solutions already known, and come up with results (Hellriegel, 2011). According to Hellriegel, once the certainty is known the risk needs to be defined (2011). This includes defining the