management 6-7

  1. decision
    a chioce from two or more alternatives
  2. problem
    an obstacle that makes achieving a desiered goal or purpose difficult
  3. decision criteria
    criteria that define what's important or relevant in resolving a problem
  4. decision making process
    • identify the problem
    • identify decision criteria
    • allocate weights to the criteria
    • develop alternatives
    • analyis alternatives
    • selc an alternative
    • implement alternative
    • evaluate decission effectivenes
  5. rational decision making
    a type of decision making in which the choices are logical and consistent and maximize value
  6. bounded rationality
    decision makeing that is rational but limitedby an individuals ability to process information
  7. satisfice
    to accept solutions that are good enough
  8. escalation of commitment
    an increassed commitment to a previous decision despice the evidence that it may have been a poor decision
  9. intutitive decision making
    making decisions on the baisis of experience, feelings, and accumulated judgment
  10. structured problem
    a streightforward, familiar, and easlily defined problem
  11. programmed decision
    the repetitive decision that can be handled using a routine approach
  12. procedure
    a series of sequential steps used to respond to a well-structured problem
  13. rule
    an explicit statement that tell managers what can or can not be done
  14. policy
    a guide line for making decisions
  15. unstructured problem
    a problem that is new or unusuall and for which information is ambiguous or incomplet
  16. nonprogramed decision
    a uniq
  17. nonprogrammed decision
    a unique nonreocurring decision that requires a custom made solution
  18. certainty
    a situation in which a decision maker can make accurate decisions because all outcomes are known
  19. risk
    a situation in which the decision maker is able to estimate the likelihood of a certain outcome
  20. uncertainty
    a situation in which the desion maker has neither certainty nor resonable probability estimates available
  21. business performance managemnt BPM software
    IT sofware that provides key performance indicators to help managers monitor efficiency of projects and employees. Also known as corporate performance managemnt software
  22. linear thinking style
    a decision style characterized by a persons preference for using external data and facts and processing this information through rational, logical thinking
  23. nonlinear thinking style
    a decision style characterized by a person's prefernce for internal sources of information and processing this infomation with internal insights, feelings, and hunches
  24. heuristics
    rules of thumbs that managers use to simplify decision making
  25. planning
    defining an organizations goal, establishing as strategy to achieve those goals, and developing plans to intergrate and coordinate work activities
  26. goals/ objectives
    desiered outcomes or target
  27. plans
    documents that outline how goals are going to be meet
  28. stated goals
    official statement of what an organization says, and what it whants its various stakeholders to believe its goals are
  29. real goals
    goals that an organization actually persues, as defined by the actions of its memebers
  30. strategic plans
    plans that apply to an entire organization and establish the organizations overall goals
  31. operational plans
    plans that encompas a partecular operational are of an organization
  32. long-term plans
    plans with a time frame beyond 3 years
  33. short-term planns
    plans covering 1 year or less
  34. specific plans
    plans that clearly define and leave no room for interpretation
  35. directional plans
    plans that are flexible and that set out general guidelines
  36. single use plans
    a 1 time plan specifically designed to meet the needs of a unique situation
  37. standing plans
    ongoing palns that provide guidance for activities perfomed repeatedly
  38. traditional goal setting
    an approach to setting goals in which top managers set goals that flow down through the organization and become sub goals for each organizational area
  39. means-ends chain
    an integrated network of goals in which the accomplishment of goals at one level serves as the means for acheiving the goals, or ends at the next level
  40. management by objectives MBO
    a process of setting mutually agreed upon goals and using those goals to evaluate employee perfomance
  41. mission
    a statement of the purpose of an organization
  42. commitment concept
    a concept which says that plans should extend far enough to meet the commitments made when the plans were developed
  43. formal planning department
    a group of planning specialists whose sole responsability is helping to write organizational plans
Card Set
management 6-7
management 6-7