Making Decisions Essay Example | Topics and Well Written Essays - 500 words

Making Decisions - Essay ExampleThese limitations can be in the form of limited information, complexity of the issue, uncertainty, term available, information available etc. Because of these restrictions, decisions argon taken based on what is immediately appropriate rather than the best possible action. Hence, all possible alternatives are not evaluated before taking any decision and managers tend to adopt a satisficing solution to the problem. In the process, managers tend to use judgmental heuristics, which means the most commonly used ways are chosen as the solution to the problem. The model of decision- fashioning styles identifies two categories namely, value orientation and tolerance for ambiguity. From these, four decision making styles emerge directive, analytical, conceptual and behavioral. The five stages of creative process include preparation, concentration, incubation, illumination, and verification. Explain how participative management affects performance, and also di scuss knowledge management and techniques used by companies to gain knowledge sharing. Participative management involves employees in key decision making processes. In this management style, employees are involved in goal setting, making decisions, solving problems, and making changes in the organization.