11 Decision-Making. 11 Decision-Making Learning Objectives Define the phases in the decision-making process. Identify some models and styles of behavioral.

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Presentation transcript:

11 Decision-Making

Learning Objectives Define the phases in the decision-making process. Identify some models and styles of behavioral decision-making. Present the participative decision-making techniques. Discuss the creative process and group decision-making techniques.

Starting with Best-Practice Leader’s Advice J. W. Marriott, Jr., on the Strategic Decisions Spurring Growth of the Hotel Chain Became president of Marriott Corp in 1964 and CEO in 1972 Marriott Int’l operates under an umbrella of 18 brands Father laid foundation for growth and success Marriott built on fundamental ideals of service Strategic decisions account for phenomenal 25 year growth Expansion past core brand was important strategic decision Other major driver of growth is geographic expansion

The Decision-Making Process

Behavioral Decision-Making Decision Rationality Models of Behavioral Decision-Making The Economic Rationality Model New Rational Techniques: ABC, EVA, and MVA

Behavioral Decision-Making (Continued)

Behavioral Decision-Making (Continued) Models of Behavioral Decision-Making (continued) The Social Model Simon’s Bounded Rationality Model Judgmental Heuristics and Biases Model

Behavioral Decision-Making (Continued) Decision-Making Styles Directive Style Analytical Style Conceptual Style

Behavioral Decision-Making (Continued)

Behavioral Decision-Making (Continued) Decision-Making Styles (continued) Behavioral Style Style Implications

Participative Decision-Making Techniques Participation techniques are being applied informally on an individual or a team basis or formally on a program basis. There are many positive and negative attributes of participative decision-making. One problem is the tendency toward pseudoparticipation. Perhaps the biggest advantage is that the participative approach to decision-making recognizes that each person can make a meaningful contribution to the attainment of organizational objectives.

Creativity and Group Decision-Making The Process of Creativity Psychological Definition and Analysis of Creativity Creativity Techniques for Management Decision-Making

Creativity and Group Decision-Making (Continued) Group Decision-Making The Delphi Technique The Nominal Group Technique

? Questions

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