Technology in Managerial Decisions Making - Assignment Example

? 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. It is a process that involves a series of steps including; problem identification, analysis of alternatives, choosing the best option, implementing, observing the results and taking responsibility. Decision making as an activity can be programmed or no-programmed which are mutually exclusive. 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 to be done into specific jobs and departments. Assigns tasks and responsibilities associated with individual jobs. Coordinates diverse organizational tasks. Clusters jobs into units. Establishes relationships among individuals, groups, and departments. Establishes formal lines of authority. Strengths and weaknesses of Traditional Organizational Designs Functional Structure Strengths: Cost saving advantages from specialization and employees are grouped with others who have a similar task Weaknesses: Pursuit of functional goals may cause management to lose focus. Divisional Structure: Strengths: Focuses on results i.e. division managers are responsible for what happens to their products and services. Weaknesses: Resources and activities duplication which increases the costs and reduces efficiency. Q4. How might businesses use the Internet to identify untapped customer needs through open innovation? What do you see as the major advantages and disadvantages of the open innovation approach? Answer. By definition, open innovation simply means the usage of purposive inflows and outflows of knowledge to hasten and propel the markets as regards the external application of innovation. As much as open innovation is a fundamental concern for the contemporary applications, it includes the usage of techniques involving the open source software. This mainly constitutes a free variety, offered to everyone free of charge. Moreover, an individual firm can come up with strategies that implement decisions to invent their own ideas and disperse them over to other firms which trade in similar forms of products. This type is referred to as inside-out knowledge flow. It is basically characterized by a dispensation action of the firm with regards to other firms. On the other hand, the other approach involved is known as the outside-in approach. In this case, the firm develops knowledge and in the same environment integrates the same. This is a more of capacity building approach and the firm is basically engaged in its affirmation and stabilization. In open innovation as regards the use of Internet, the following advantages suffice in the premises. The initiatives are always for intellectual and business usage. The firms involved participate freely. Their functionalisms are enabled by online platforms providing specific functions and which must be integrated with cooperative development. The final product is a specific type that is susceptible for any substantial changes and usage, but as regards the directives given by the manufacturers. Q5. Analyze the driving and restraining forces of a change you would like to make in your life. Do you believe understanding force-held analysis can help you more effectively implement a significant change in your own behavior? Answer This is as entails poor risk taking qualities. It is based on the fact that most of my decisions are driven by a form of fear. This moreover limits me to cases too meager in form and as a result, a subjection to pessimism. The end result is a no-go zone of risk taking decision. The objectives set for the realization of a modification in this drastic inadequacy involves; setting standards that surpass my annual objectives, formulating viable measures with which to embark on such a challenge and finally planning on the progressive implementation of my strategies. The driving forces towards the achievement of my goals include positive engagements with credible firms; where upon scores have been set by my individual achievement. Further to this, it is important to bank on the capabilities of team work as well as departmental strengths. To sum it up all, I have to engage in a consistent SWOT analysis and from these draw viable solutions and the recommended strategies in minimizing the weaknesses. After such an extensive analysis of the status of the driving and restraining forces of the change I yearn for, I am confident that the force-field analysis will be of great benefit to me. It evidently will impact on my behavior eminently by strengthening my driving forces, eliminating if possible, or limiting the deterrent restraining forces and adding value to my driving forces, and this should possibly be through the reformation of an initially straining force. Q6. Why is it important for managers to have an under-standing of organizational behavior? Do you think knowledge of OB might be more important at some managerial levels than at others? Discuss Answer In a professional ground, a leader is capable of motivating his/her employees, basically by example. First, the leader of the pack has to be self-motivating. When one possesses the ability to be self-motivated, it makes it a lot easier to extend them to motivate others. Many people believe that if a person has the required experience and expertise to the professional field, that people should be able to motivate themselves. It becomes a massive problem when a leader of a department is lazy and has no aspirations. The difficulty level for such leaders consistently stays put at these high levels due to the lack leadership and managerial skills and qualities. Today should you encounter a situation whereby you apply for employment, there usually emerges a query asking whether or not you have any managerial skills. This is always basically necessitated by; companies today are in search of people with leadership skills and abilities as well as the required educational background and expertise. It compels the query to suggest that not every educated or enlightened person possesses leadership dispositions. In the place of work, the performance, productivity and experience of the workers and/ or those involved is also very fundamental. If the business must be achieved and successful, it will begin and possibly stop with the tasks entrusted of the workers. The manager of the place of work has to ensure virtually all the employees are engaged in effective and efficient work. One way to ascertain such an excellent work commencement is make the workers feel as if they are on an intended purpose and not just on a task to pick up a pay. Q7. How might understanding whether an employee has an internal or an external locus of control help a manager better communicate with, motivate, and lead the employee? Answer Locus of control means that the extent to which individuals believe that they can control events is of effect them. Persons with a relatively high internal locus of control are of the view that events yielding basically from their individual and own behavior and deeds. Those with exceedingly high external locus of control on the other hand have the notion that others, fate, or chance primarily determine events. Those with a highly much internal locus of control have better and superb control of their individual behavior, have the tendency to exhibit much more political behaviors, and likely to attempt in the influencing of other persons than those with a highly external locus of control; they have the tendency to believe that they are more likely to assume that their efforts will be successful. They are more actively engaged in seeking ideas and dispositions concerning their situation. More to this, research has established that processing an internal locus of control is directly linked to well adverse academic exposure and achievement, individuals with internal locus of control get good scores as entails performance and put in more efforts and include spending much of their time on home-base assignments as well as studying in search of inventive considerations for long periods to contest against their competitors. Thus, managers with an internal locus of control have been found to perform better in general firm’s works and in general entrepreneurial ventures. Otherwise, it is evident that leaders who have an internal locus of control tend to have higher levels of overall achievement than those with external locus of control. Read More