organization up to new learning ! I. Organizational decision making 1. Organizational decision making Definitions Organizational decision making: The process of responding to a problem by searching for and selecting a solution or course of action that will create value for organizational stakeholders ! Programmed decisions: Decisions that are repetitive and routine ! Nonprogrammed decisions: Decisions that are novel and unstructured ! 1. Organizational decision making Definitions
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ESSENTIALS OF MANAGEMENT ➢ The need / scope / meaning & definition / process of management / managerial hierarchy MANAGERIAL FUNCTIONS ➢ Planning / Organizing / Staffing / Directing / Controlling MANAGERIAL SKILLS ➢ Technical / Conceptual / Human TYPES OF MANAGERS ➢ Functional / Specialists / Generalists / Line & Staff managers DECISION MAKING ENVIRONMENT ➢ Open & closed system / decision making under certainty, uncertainty & risk DECISION MAKING TYPES ➢ Structured
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integrative of a complex of forces and values harmonizing a breadth of goal and sub goals that is longer in term while decision-making is composite. It incorporates a statement of problem to be treated, a formulation and evaluation of imaginable alternative responses and the selection among them. Planners strive to learn of the practical difficulties awaiting their work progress. They must persuade their clients to accept their plan. Their decision must reflect consistent consideration of benefits
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analysis—examining the causes and considering alternative courses of actions to come to a set of recommendations. To get the most out of cases, students read and reflect on the case, and then meet in learning teams before class to "warm up" and discuss their findings with other classmates. In class—under the questioning and guidance of the professor—students probe underlying issues, compare different alternatives, and finally, suggest courses of action in light of the organization's objectives. As
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most beneficial course of action to the company. Recommendation and Summary I recommend selling the Cynthia and leasing a diesel-powered vessel. This alternative generates the lowest investment NPV (Net Present Value) of the four possible courses of action. It also enables the company to comply with the possible change in crew shift structure (from two, twelve-hour shifts to three, eight-hour shifts) and the resulting increase in crew size. The NPV of each alternative is summarized below
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Tata Iron and Steel Company (TISCO) I. Time Context The problem arises when Tata Iron and Steel Company (TISCO) experienced a decline of 41% in its net profit, reporting Rs 119 crore of net profit during the year 1992-1993 II. Viewpoint Ratan Tata said in an interview, “We would not protect our holding in TISCO by stopping an expansion of capital. I do not think we will hurt any company in that way. If we wish to increases our holding, it would be by injection of
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operate and earn revenues effectively and efficiently Areas of Consideration: 1. The market of their business 2. The acts of Kate 3. The goal of Rosemary 4. Protection of assets 5. Rosemary’s situation Alternative Courses of Action: 1. Fire Kate and hire one of the remaining instructors as a manager Advantages: • Possible thief will be reduced • Kate can no longer steal from the business Disadvantages:
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512-288-3115 (Cell phone – feel free to call any day before 9 p.m.) E-Mail Kate.Mackie@mccombs.utexas.edu Skype katemackietx Course Web Page via Blackboard ------------------------------------------------- Teaching Assistants Dave Isquick (David.Isquick@mba12.mccombs.utexas.edu ) Course Objectives The primary objectives of this course are to: a) advance your understanding of concepts and tools useful in the analysis and development of pricing and distribution
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other company Threat ---Only two stores out of 2oo of being prepared were open and it was apparent that the original business concept was not going to work. ---Constant lowering of computer prices ---They can have many competitors Alternative course of action 1. In order to be successful, it is pertinent that Cyberplay reduce its expenses to the lowest possible levels. Advantage: In order to give it a fighting chance at survival without endangering its
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CASE STUDY: PRIVATE FITNESS, LLC I-Summary Private Fitness, LLC a private fitness owned by Rosemary Worth, a small health club which is located in Rancho Palos Verdes, California- an upscale community located in Los Angeles area. The services offered by the club were personal fitness training and fitness classes of various types including aerobics, spinning, body sculpting, air boxing, kickboxing, hip hop, step and pump, dynamic stretch, Pilates and yoga. Private Fitness LLC Rate for services
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