The importance of MIS in decision making lies in its ability to change the direction of management teams and entire organizations. For instance, if the MIS reports show that all but one management team is exceeding the quarterly performance projections, extra help can be brought in to help the struggling team, or executives might choose to terminate and then replace the poorly performing team.
In any organization, decision making has traditionally been put in the hands of the management or superiors. An organization’s hierarchy emerges when an organization experiences problems in coordinating and motivating employees. As an organization grows, employees increase in number and begin to specialize, performing widely different kinds of tasks; the level of differentiation increases.
The management prefers downsizing as one of the turn-around strategies for a declining organization. The senior management also pursues layoff in a bid to cut costs and achieve labour effectiveness and efficiency. Downsizing has become vital for the firm under consideration due to the following reasons. First, the organization has been experiencing low activity and rising labour costs.
In this case, these decision makers like change; hence, they are not analytical since they gather relatively narrow information and they are significantly. StudentShare. Our website is a unique platform where students can share their papers in a matter of giving an example of the work to be done. If you find papers matching your topic, you may use them only as an example of work. This is 100%.
When making a business decision, the first step in making a good decision is defining the challenge, problems vary with different situations. With globalization, a problem should be looked from the global perspective; that is how it has affected the current business in the domestic country and how it is likely to affect the company in other parts of the world (Schulte, 2000). G.
Carefully consider the tools and methods described in the reading to assist with Management Decision Making. Think of a decision you have made or been involved in making. This could be a personal decision or a work-related decision. Your Task. Outline your decision process as it relates to the six steps of the rational decision-making process described in the text: Step 1. Identify the Problem.
However the more broad the decision to be made the need to have as much information to do this so that the decision being made is an informed decision. Decision makers therefore have to contend with a number of issues such as personal motivation and emotions while making these decisions. In so doing different there could occur different outcomes from the same situation in which case two.
Keywords: strategic management, decision making process, decision making process models, CDP model JEL Classification: M190, M100, D810 1. Introduction The main activity of a manager consists in making decisions. It is well known that the decision in management is the process of choosing between two or more alternatives to accomplish one’s purpose. The managers are making scheduled routine.