“Decision-making is management’s most important function.” Do you agree? Why or why not? Explain the primary diff erence between line positions and staff positions, and give examples of each.
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“Decision-making is management’s most important function.” Do
you agree? Why or why not?
Explain the primary diff erence between line positions and staff
positions, and give examples of each.
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- 3. Discuss the different roles played by the qualitative and quantitative approaches to managerial decision making. Why is it important for a manager or decision maker to have a good understanding of both of these approaches to decision making?Decision making is a fundamental management function. In the light of this statement, define and explain, with examples, all the views on how managers make decisions.What are the implications for a manager of making decisions without considering the components of the management process? When answering you must:to. Explain what the decision-making process consists of.b. Establish the parts that make up the administration process and how these impact the decision making of a manager in an organization.
- Explain how operating decisions of management may be affected by the probability of the firm`s technical insolvency and why the magnitude of the influence may depend on whether management is more self-interest-oriented or more shareholder-oriented.the Hierarchy of the information- based business decision makers.Which level has the best chance of success and why? the 3 Hierarchies are top tier visionaries, middle tier standarised decison makers and the base tier intuitive decision maker. Explain them and explain which level of these has the best chance of success and why? need to know advantages as well please Thank you.In today's fast-paced business environment, decision making is a critical task for managers. Making the right decisions is vital to the success of a company, and it requires access to relevant information. Cari Pump (CP) Company manufactures water pumps. An important part of the pump is its electronic component (EC). Cari Pump collects data with the following cost information about the costs of making ECs in 2019 and the expected costs in 2020: Current Costs (2019) Expected Costs (2020) Fixed manufacturing cost Fixed manufacturing overhead costs that can be avoided if ECs are not made Fixed manufacturing overhead costs of plant depreciation, insurance, and administration that cannot be avoided even if ECs are not made Variable manufacturing costs Direct material cost per EC Direct manufacturing labor cost per EC Variable manufacturing cost per batch for setups, Materials handling, and quality control 360,000 850,000 $ 200 60 2,000 360,000 850,000 $ 190 55 1,800
- BIBT HUMAN BEHAVIOR IN ORGANIZATIONS FALL I 2022 ASSIGNMENT #4 1. Why are policies important? 2. How can managers effectively implement policies within an organization? 3. What is decision making? 4. Explain the different types of decisions and give an example for each type.2.1) Explain the importance of the management environment analysis and its impact on decision-making in a company like EskomJames Park has been hired as the new CEO by the board of directors of GoSportsInc., a large national sporting goods retailer, which has been battling economic andinternal issues over the previous years. Despite Park’s experience at the helm oflarge companies in need of profound strategic and structural change, in his newposition at GoSports he has been “butting heads” with a powerful collective ofexecutives unhappy with the hire and threatened by the new CEO’s accolades. Tocomplicate matters, rumour has it that the decision to hire Park was far fromunanimous, with various factions vying for control in the company, waiting for achance to fill the power vacuum a quick departure by Park would leave behind. Aftertwo weeks with the company, Park is called before the board of directors to report onthe progress made and how he plans to return GoSports to its former glory.Required:A. If you were in James Park’s position, highlight the key issues you would highlightin your report to the Board…
- What can individuals do to improve the quality of their decision-making? Would you rather work for a company that takes a stakeholder or stockholder approach in its dealings with customers, employees, suppliers, and other constituencies in its network? Explain the concepts the ends justify the means, and the means justify the Which of the two best ascribed your management style and achieve organizational efficiency? What type of leaders and leadership styles and practices often lead to problems with employees, customers, and other stakeholders and stockholders?Develop a comprehensive set of 25 heuristics covering various aspects of decision-making, problem-solving, and leadership. Divide the heuristics into different categories or themes (e.g., ethical considerations, effective leadership styles, decision-making frameworks). At least 4 heuristics should address ethical aspects. Include diverse perspectives and insights, drawing from course materials and personal experiences. Heuristic Format:Each heuristic should be presented as a clear guideline or rule of thumb.Provide a brief explanation for each heuristic, including rationale and relevance.Miriam and Devon are both upper-level managers, but have very different decision-making styles. Please name and describe in your own words four decision making processes that could be used to guide their decision making. In addition, provide and explain in your own words 10 ways in which their decision could, in general, be derailed or hindered, and explain each.