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Desicion making in business - Book Report/Review Example

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Name: Course: Tutor: Date Essay Questions Q1 Page 232: Three Decisions Made In the Last Six Months. Which Were Programmed and None programmed And Which Model Used? Decision making is an important function of business that determines the success of the business…
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Download file to see previous pages Aspects of decision making process may be handled by different methods of decision making. The non-programmed method is often a novel, unstructured, and consequential while the programmed method is basically habitual, standard operating procedure and a systems approach. Decision making of programmed nature may seem almost automatic activity; it involves certain rules and procedures. Its fast technique is habit: Habit is the most generalized and pervasive of the techniques involved in programmed decision making. It is followed by the system operative procedure which is different from habit which is internalized while system operative procedure provides modification, examination, improving habitual patterns. Non-programmed nature involves the novels, unstructured and consequential. It involves the conventional method of choosing workers depending on how accurate they are in their work by determining how often they made mistakes in the past work. The model used in making these decisions was political since a lot of events are determined by the political situations of the region. It is also economical since it has increasingly hard to get employment without higher education credentials and as it is that employment is the basic source of income and capital for starting a business Q2 Technology in Managerial Decisions Making Answer Productivity indicators refer to the presence of positive combination between spending it information technology and the resulting benefits to productivity or the profit. Several research works has shown that there is a positive relationship between investment in information technology and the firm’s productivity. Advantages of computer technology in decision making: 1. It is a store of data the can be used as reference material and information source in decision making. 2. It enhances efficiency since the information is well organized into file and folders accessible at a click of a button. 3. It enhances customers’ satisfaction since clean records of customers can well kept showing their creditors and debtors in relation to the form. 4. It improves the employee motivation through reduced paper work 5. Computers occupies smaller space as compared to file shelves 6. Provides a variety of information through internet which is useful in decision making. 7. Stores information for along Disadvantages of using computers in decision making: 1. Involves extra costs of operation in their acquisition 2. Can only be used effectively by trained experts 3. Its use involves risks i.e. 1. Physical risks: The vulnerability of computer hardware, Software and data to theft sabotage; software vulnerability to piracy and deletion and data security laps. 2. Managerial risks: Failure to achieve expected benefits or cost cuts: implementation failure to achieve estimated timeframe; inability of system to support organization or its growth over time; and incompatibility issues that may come up.It is paramount to know how and where IT investment and decision-making. Methodologies fit into the general planning frame of the organization. Q3; Page 268-269: Differences between Divisional Structure and Functional Structure In Departments: Answer Organizational Structure The formal arrangement of jobs within an organization. Organizational Design A procedure involving decisions about six key elements: Work specialization Departmentalization Chain of command Span of control Centralization and decentralization Reasons for the formation of structures Divides work ...Download file to see next pagesRead More
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