...somewhat forces me to use this viewpoint. My psychology background forces me to use this viewpoint because it has given me a deeper understanding into how different every person is. So I know that each person is going to respond to things differently, and that must be taken into consideration when managing people. When I am faced with a situation and I have to make a decision, I almost always take into consideration the individual and the environment. A common one is with my toddler and why she might be acting a certain way when we are somewhere. Maybe we are in a new place and she is scared and starts crying, how do I handle the situation? I have to take into account the individual (my toddler) and the environment (the mall). To get handle on the circumstances, or the situation, I would talk to my toddler and reassure her that she is safe and that we are in a new place, and try to make it seem a little fun. What girl doesn’t like to spend money! In my work experience, I think that you have to be careful when using the contingency viewpoint. Since you have to consider the individual and the environment, and your decision is contingent upon these two things, I think that you...
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...of a business. The three key elements are Information and decision making, planning process and techniques and strategy and strategic management. The reading covers a general outline of the elements required for a manager to make familiar decisions among alternate courses of action. The reading also lists types of managerial decisions, information competency, and information needs in organization, why managers plan and the planning process and benefits of planning. In the following I will describe the various components that comprise the main aspects of the required readings. Information, technology and management. Information is basically data that is used when made meaningful in the decision making process. The reading shows how valuable and useful data is and that it is accessible by everyone but not everyone makes data that is readily available to them useful information. When we are able to gather, analyze and use information for decision making and problem solving this is called information competency. In order for companies to have top performance employees should have the right information available to them. The reading outlines information systems. This system is used by IT to collect, organize and distribute data for use in the decision making process. When it comes to decision making, we all know that with management it is an essential part of the job. The reading gives the meaning of the decision making process which is to identify a problem and end with an evaluation...
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...objectives using available resources efficiently and effectively. But if we try to look from closer, Mothers are the best managers if one wants to learn from. Here I am taking example of my own mother. She is a doctor so she handles her hospital work and daily routine activities of my house. I have divided the activities performed by my mother on daily routine basis (weekdays) and tried to put them into management functionalities comprises planning, organizing, staffing, leading /directing, and controlling our organization (in this case my house). All this is done by resourcing, encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. |My Mother “The Best Manager” | |Time |Activity |Functionality |Learning | |0500-0530 Hrs |Waking up on time despite of |Planning |Time management | | |working late last night |Organising |Organisational commitment | | | |Leading |Consistency | | | | |Work dedication ...
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...Information Technology Investment Decision-Making Learning Objectives After completing this chapter, you should be able to: • • • • • Describe different types of IT investment decisions manager face. Briefly describe some of the methodologies that are used in IT investment decision-making. Explain why IT investment decision-making is important as a subject to study. Explain some of the limitations that should be considered when using IT investment methodologies. Explain the role of IT investment decision-making within organizational planning. Prologue Information technology (IT) investment decision-making impacts all industries but sometimes in different ways. For example, Karadag et al. (2009) explored the importance of IT investment decision-making methodology in lodging industry. The research found that evaluation activities for hotel IT investments have not been performed widely and consistently and that some types of hotels tend to use more financial and non-financial IT evaluation methods, since all investments are expected to show a positive return on investment. The research findings highlight the importance of the use of IT investment evaluation techniques and the 3 4 Information Technology Investment: Decision-Making Methodology major differences in their use require a substantial need for understanding a wide variety of IT investment methodologies to satisfy decision-making needs. To provide useful decision-making in IT investments today requires a...
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...UNIT-2 PLANNING AND DECISION MAKING #Planning: In simple words, planning is deciding in advance what is to be done, when, where, how and by whom it is to be done. Planning bridges the gap from where we are to where we want to go. It involves setting objectives and developing appropriate course of action to achieve this objectives. A plan is a predetermined course of action to achieve a specified goal. It is an intellectual process characterized by thinking before doing. It is an attempt on the part of manager to anticipate the future in order to achieve better performance. Planning is the primary function of management. According to Alford and Beatt, “Planning is the thinking process, the organized foresight, the vision based on fact and experience that is required for intelligent action.” According to Theo Haimann, “Planning is deciding in advance what is to be done. When a manager plans, he projects a course of action for further attempting to achieve a consistent co-ordinate structure of operations aimed at the desired results. #Importance of Planning: 1.Planning helps in efficient Use of Resources: All organizations, large and small, have limited resources. The planning process provides the information top management needs to make effective decisions about how to allocate the resources in a way that will enable the organization to reach its objectives. Productivity is maximized and resources are not wasted on projects with little chance of success. 2. Planning Provides...
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...principles are planning, leading, controlling, decision making, and human relations. Planning is my first management principle; it requires the planner to anticipate the future. A systematic process of making decisions about goals and activities that an individual, group, work unit, or organization will pursue in the future. In planning there’s decision making stages and formal planning steps. General decision making is identify and diagnosing the problem by making the choice, implementing, and evaluating it. Planning in general I learned is all together a preparatory step. Which determines when, how, and who is going to perform the specific job. Planning has been a weakness for me because I lack in planning but I have learned in this course and through past experiences that planning ahead of time is planning to anticipate the future. Without planning the future would be a total disaster. Planning starts with setting goals and objectives to be achieved. A goal in management is a target or end that management desires to reach. The main goals in planning have to be good, smart, specific, measurable, attainable, relevant, and time-bound. Also you can’t just have a goal you have to plan to have a goal and you have to plan out that goal. The plan to achieve goals is contingency plan a process that prepares an organization to respond coherently to an unplanned event which is referred to as “Plan B”. Strategic planning is needed which is a set of procedures for making decisions about the...
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...exercising good customer services, particularly those involving large numbers of participants. As the prominence of customer services increases, it is sometimes unclear precisely how customer in planning process helps organisation make better decisions. I suppose it is our job then to investigate, identify, and assess the needs of customers in our planning process. And design the consultation process accordingly. Customer service is linked to the measurement of customer satisfaction. As a company we should be able to identify the gaps between what customers expect or need from the organization and the service they feel they are actually receiving. Definition In the context of delivering quality services, there should be a process of planning that permits and promotes the two-way flow of information between customers of commercial services and our organisation. Implementing a planning process also makes customers more aware of the services we at Thales Australia provide. Goal and Objectives To discover customers’ opinion of the services they receive from our company and the way these services are provided. The objectives of our planning process may range from sharing information to developing and implementing solutions to a problem. All participants must understand the objectives of the planning process from the outset. Quality Services - Consult customers in order to • seek improvements to delivering quality services; • increase their satisfaction with the service rendered;...
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...Management Practices Why is it necessary to plan? How is most planning conducted? Planning suggests a systematic attempt to shape the future. I think that planning entails making decisions and informing actions in ways that are socially rational. At the same time, serves a public or general purpose, such as ensuring the stability and growth of the economy. The planning process must continuously pursue and faithfully serve the public interest. This is necessary because it guide overall economic stability and growth in a community by achieving a sensible and attractive land use pattern, preserving or improving that which all ready exists and also encourage economic development. All manager plan. Most planning is carried out on an informal or casual basis. This occurs when planners do not record their thoughts but carry them around in their heads. Formal planning is written, documented and developed through an identifiable process. The appropriate degree of sophistication depends on the needs of the individual managers and the organizational itself. At the same time plans are often classified by function or use. The most frequently encountered types of functional plans are sales and marketing plans, production plans, financial plans, and personnel plans. Sales and marketing plans are for developing new products or services. So at the end of time we all need to plan our life or thought in certain ways to get were we want in your life. 2. Describe the differences between...
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...(3) benefits of planning in organization. Benefits of planning: 1. For better coordination • Planning provides a foundationfor the coordination of a broad range of organizational activities. • A plan helps to define the responsibilities of individuals and work groups and helps coordinate their activities. 2. Focus on forward thinking • The planning function forces managers to think ahead and consider resource needs and potential opportunities or threats that the organization may face in the future. 3. Participatory work environment • Successful planning requires the participation of a wide range of organizational members. • The organization benefits by having access to a broad base of experience and knowledge in the planning process. • Organizational members are more likely to “buy in” to a plan that they have helped develop. (6 marks) PART D QUESTION 1 Decision making is the process through which managers and leaders identify and resolve problems and capitalize on opportunities. a) What are the conditions in decision making? Conditions under Decision Making: a) Certainty – situation in which a decision maker can make accurate decisions because the outcome of every alternative is known. b) Risk – condition in which a decision maker is able to estimate the likelihood of certain outcomes. c) Uncertainty – a situation in which a decision maker has neither...
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...ANS 2 The Morgenthau Plan, first proposed by United States Secretary of the Treasury Henry Morgenthau, Jr. in a memorandum entitled Suggested Post-Surrender Program for Germany, advocated that the Allied occupation ofGermany following World War II include measures to eliminate Germany's ability to wage war by eliminating its armament industry, and the removal or destruction of other key industries basic to military strength. This included the removal or destruction of all industrial plants and equipment in the Ruhr area.[1] In occupied Germany, the thinking behind the Morgenthau plan was at first reflected in the U.S. occupation directiveJCS 1067[2][3] and in the Allied Industrial plans for Germany aimed at "industrial disarmament".[3] Compared with the Morgenthau Plan, however, JCS 1067 contained a number of deliberate "loopholes", limiting any action to short-term military measures and preventing large-scale destruction of mines and industrial plant, giving wide-ranging discretion to the military governor and Morgenthau's opponents at the War Department.[4][5] JCS 1067 was later replaced by JCS 1779, which aimed at restoring a "stable and productive Germany" and was soon followed by the Marshall Plan.[4][6] The contemporary historical assessment is that the Morgenthau Plan was of no significance for later occupation and policy in Germany, but that Nazi propaganda on the subject had a lasting effect and that it is still used for propaganda purposes by extreme right-wing organizations...
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...ote ote technical note tech Air Traffic Control Specialist Decision Making and Strategic Planning – A Field Survey Jean-François D’Arcy, Ph.D., Titan SRC Pamela S. Della Rocco, Ph.D., ACT-530 March 2001 DOT/FAA/CT-TN01/05 Document is available to the public through the National Technical Information Service, Springfield, Virginia 22161 U.S. Department of Transportation Federal Aviation Administration William J. Hughes Technical Center Atlantic City International Airport, NJ 08405 NOTICE This document is disseminated under the sponsorship of the U.S. Department of Transportation in the interest of information exchange. The United States Government assumes no liability for the contents or use thereof. The United States Government does not endorse products or manufacturers. Trade or manufacturer's names appear herein solely because they are considered essential to the objective of this report. This document does not constitute FAA certification policy. Technical Report Documentation Page 1. Report No. 2. Government Accession No. 3. Recipient’s Catalog No. DOT/FAA/CT-TN01/05 4. Title and Subtitle 5. Report Date March 2001 Air Traffic Control Specialist Decision Making and Strategic Planning – A Field Survey 7. Author(s) 6. Performing Organization Code ACT-530 8. Performing Organization Report No. Jean-François D’Arcy, Ph.D., Titan SRC and Pamela S. Della Rocco, Ph.D., ACT-530 9. Performing Organization Name and Address DOT/FAA/CT-TN01/05 ...
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...MG101 INTRODUCTION TO MANAGEMENT ASSIGNMENT 2 NAME: SAHIL SHANEEL SHIRAZ STUDENT ID: S11109682 DUE DATE: 11TH MAY, 2015 Question 1 Decision making is a very crucial and integral part of any business house. Managers of different levels of the organization are involved in decision making and a good decision shall lead to a positive growth. It is like a norm for all managers to make decisions in the everyday busy schedules. The two types of managerial decision makings are programmed and non-programmed. These 2 types of decision making processes are needed in order to re-solve the day-to-day problems. Hence, this essay shall discuss the difference between programmed and non-programmed decisions using examples. To begin with, programmed decisions are decision makings to which solutions are already available from past experiences. This type of decision makings are supported by policies, procedures and rules in order to save the manager’s time. For example, in expedition of the refund processes, the departmental stores use certain rules and policies, “Return shoes with tag still on, undamaged and within 7 days of purchasing” (De Cieri et.al.2003). It is said to be that programmed decision makings are repetitive and of usual routine. In programmed decision making, managers usually don’t have to spend much time in trying to solve the problems which are business related. According to Gustafson (2015), a manager’s work gradually gets in routine and repetition mode. Like the process mechanics...
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...The Decision Making Process: Utlilized the 5 “As” A decision is an act of reaching a conclusion in one’s mind. The decision making process is a cognitive process that results in the selection of one proposed idea over another. In order for the decision making process to be productive, a careful planning process must take place. Planning is important to decision making because it helps to define the purpose, goals, and scope of the decision. Ensuring that the person making the decision “Ask, Acquire, Appraise, Apply, and Assess” the entire situation is essential, Making decisions on evidence-based research and with the best interest of the organization tends to give the best results. Types of Plans Strategic planning is used by organizations to establish their goals, define their strategies, and make decisions. Strategic plans incorporate the formulation and implementation of various processes. Organizational plans are specific to an organization’s goals in a particular organizational area. It lists a plan of work, programs affected, and time frame for accomplishing these goals. Specific plans are veritable tools used for implanting general policies without substantial legal challenge to the nature of their cause. Objectives are straight forward. In situations when flexibility in warranted, directional plans are used. Directional plans are flexible and provide managers with a set of general guidelines but do not lock managers into a particular course of action. ...
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...Managerial Accounting 12/3/15 Managerial Accounting Accounting is a crucial part in running a business. There are various forms of accounting that can be used, it is very important to know which technique is best to use for what companies. Once you figure out a particular technique to use, it is important to keep an open mind if there are any changes that need to take place in the business. By keeping an open mind helps the business adjust and be able to make the right decisions. Every business wants to make a profit; accounting is an important part in helping understand how profits and expense amounts are derived. One form of accounting I will focus on is managerial accounting or also known as management accounting. Managerial accounting is the process of identifying, analyzing, recording and presenting financial information that is used for internally by the management for planning, decision making, and control. Managerial accounting provides economic and financial information for managers and other internal users (Managerial, 2005). When you tell people about managerial accounting, the first thing they ask is “What’s the difference between managerial and financial accounting?” There are both similarities and differences between managerial and financial accounting. The major similarity each field shares, is that they both deal with the economic events of a business. As an example, determining the unit cost of manufacturing a product is part of managerial accounting...
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...Financial planning Process • Step 1: Determine Your Current Financial Situation • In this first step of the financial planning process, you will determine your current financial situation with regard to income, savings, living expenses, and debts. Preparing a list of current asset and debt balances and amounts spent for various items gives you a foundation for financial planning activities. • Step 2: Develop Financial Goals • You should periodically analyze your financial values and goals. This involves identifying how you feel about money and why you feel that way. The purpose of this analysis is to differentiate your needs from your wants. • Specific financial goals are vital to financial planning. Others can suggest financial goals for you; however, you must decide which goals to pursue. Your financial goals can range from spending all of your current income to developing an extensive savings and investment program for your future financial security. • Step 3: Identify Alternative Courses of Action • Developing alternatives is crucial for making good decisions. Although many factors will influence the available alternatives, possible courses of action usually fall into these categories: • Continue the same course of action. • Expand the current situation. • Change the current situation. • Take a new course of action. • Not all of these categories will apply to every decision situation; however, they do represent possible courses...
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