What is the characteristic in decision making and discuss why they are important?

Here you will find my classmate’s Post and the instruction for the assignment…

Respond
to others – You will individually
comment—reply—to your fellow learners’ posts. These responses are expected
to add to the discussion and even extend it. This should not be an “I
agree or disagree” post; rather, interject your own personal analysis of the
originating student’s posting. Please make each posting meaningful and
on-point.

Chapter Three Discussion Questions.
1) What is the characteristic in decision making and
discuss why they are important?
The characteristics of decision-making include identifying and diagnosing a problem, generating alternate
solutions, evaluating alternatives, making a choice, implementing the decision,
and evaluating the decision. Being able
to identify a problem is an important step because you can solve a problem you don’t
realize you have. Generating solutions
is obviously important because once you know you have a problem, you need to brainstorm
ideas to fix the problem. Evaluating
your solutions is important because an idea, while it would fix the problem,
may not be feasible. Making the choice
is important because you need to pick your final choice and commit to it. Implementing the decision is necessary because
it is the actual carrying out of the plan.
Lastly, evaluating your decision is important because you need to be
sure that your solution is working as intended.
2) What are the barriers to effective decision making and
provide an example for each?
The major barriers to effective decision making are psychological
biases, time pressure, and social realities.
Psychological biases also include problems such a the illusion of control,
where you think you can change events you actually have no control over, framing
the effect, where the way things are presented can override the reality of the
situation, and discounting the future, where the needs of the short term solutions
are implemented at the cost of long-term problems. Time pressures tell us that if a plan isn’t implemented
within a certain time window, that plan may have no validity. Lastly, social realities imply that sometimes
a good plan can not be implemented because there is no way that it could be
implemented in the current social climate.
Chapter Four Discussion Questions.
1) What are the steps to strategic management?
The steps of strategic management include establishing mission,
vision, and goals, analyzing external opportunities and threats, analyzing internal
strengths and weaknesses, using SWOT analysis and strategy formulation, strategy
implementation, and strategic control. Strategic
management is specifically when supervisors in different branches of a company
plan together to implement strategies which they then bring back to their own
departments. This cross-company communication
is important so that an organization can run properly.
2) Discuss the steps to strategic management.
Establishing mission, vision, and goals is important because
these things are the path that an organization follows and guides all of the company’s
other decisions. Analyzing external opportunities
and threats allows for the decision makers to look outside the company and
conclude what things in the world are going to affect the company. Analyzing internal strengths and weaknesses
is important because it forces managers to be aware of the things going on
within the company that they need to watch out for or can use to their
advantage. Using SWOT analysis and strategy
formulation is important because SWOT allows for an even more in-depth analysis
of the inner workings of the company.
Strategy implementation is the follow through of the decision-making process. Lastly, strategic control is the evaluation
of the effects that the plans are having on the organization.

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