New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

MIS 24163 Chapter 3 Notes

by: Julie Mendola

MIS 24163 Chapter 3 Notes MIS 24163

Julie Mendola
GPA 3.134

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

These notes are for Principles of Management Chapter 3. Managerial Decision Making.
M James Smas (P)
Class Notes
Management, business, Chapter3
25 ?





Popular in Business, management

This 4 page Class Notes was uploaded by Julie Mendola on Monday February 8, 2016. The Class Notes belongs to MIS 24163 at Kent State University taught by M James Smas (P) in Winter 2016. Since its upload, it has received 35 views. For similar materials see PRINCIPLES OF MANAGEMENT in Business, management at Kent State University.


Reviews for MIS 24163 Chapter 3 Notes


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 02/08/16
Lack of Structure  Programmed decisions o Decisions encountered and made before, having objectively correct answers, and solvable by using simple rules, policies, or numerical  Nonprogrammed decisions o New, novel, complex decisions have no proven answers Programmed Decisions Nonprogrammed Decisions Problem Frequent, repetitive, routine. Much certainty Novel, unstructured. Much regarding certainty, regarding cause-and- uncertainty regarding cause-and- effect relationships effect relationships Procedure Dependence on policies, rules, and definite Necessity for creativity, intuition, procedures tolerance for ambiguity, creative problem solving Examples Business Periodic reorders of inventory Diversification into new products and Firm markets University Necessary grade point average for good Construction of new classroom academic standing facilities Health care Procedure for admitting patients Purchase of experimental equipment Government Merit system for promotion of state Reorganization of state government employees agencies Uncertainty and Risk  Certainty o The state that exists when decision makers have accurate and comprehensive information  Uncertainty o The state that exists when decision makers have insufficient information  Risk o The state that exists when the probability of success is less than 100 percent and losses many occur. Conflict  Conflict o Opposing pressures from different sources, occurring on the level of psychological conflict between individuals or groups Two Levels of Conflict 1 Individual decision makers experience psychological conflict when several options are attractive, or when none of the options is attractive 2 Conflict arises between people Identifying and Diagnosing the Problem  Typically, a manager realizes some discrepancy between the current state ( the way things are) and a desired state (the way things ought to be)  Such discrepancies may be detected by comparing current performance against a. Past performance b. The current performance of other organizations or units c. Future expected performance as determined by plans and forecasts Generating Alternative Solutions  Ready-made solutions o Ideas that have been seen or tried before  Custom-made solutions o New, creative solutions designed specifically for the problem Evaluating Alternatives  Evaluating alternatives o Involves determining the value or adequacy of the alternatives that were generated  Contingency plans o Alternative courses of action that can be implemented based on how the future unfolds Making the Choice  Maximizing o A decision realizing the best possible outcome  Satisficing o Choosing an option that is acceptable, although not necessarily the best or perfect  Optimizing o Achieving the best possible balance among several goals Implementing the Decision 1 Determine how things will look when the decision is fully operational 2 Chronologically order the steps necessary to achieve a fully operational decision 3 List the resources and activities required to implement each step. 4 Estimate the time needed for each step 5 Assign responsibility for each step to specific individuals Evaluating the Decision  Feedback that suggests the decision is working implies that the decisions should be continued and applied elsewhere in the organization  Negative feedback means that either a. Implementation will require more time, resources, effort, or thought b. The decision was a bad one The Best Decision  Vigilance o A process in which a decision maker carefully executes all stages of decision making Psychological Biases  Illusion of control o People's belief that they can influence events, even when they have no control over what will happen  Framing effects o A decision bias influenced by the way in which a problem or decision alternative is phrased or presented  Discounting the future o A bias weighting short-term costs and benefits more heavily than longer-term costs and benefits Potential Problems of Using a Group  Groupthink o Occurs when people chose not to disagree or raise objections because they don't want to break up a positive team spirit  Goal displacement o A condition that occurs when a decision-making group loses sight of its original goal and a new, less important goal emerges Constructive Conflict  Cognitive Conflict o Issue-based differences in perspectives or judgements  Affective conflict o Emotional disagreement directed toward other people  Devil's Advocate o A person who has the job of criticizing ideas to ensure that their downsides are fully explored  Dialect o A structured debate comparing two conflicting courses of action Brainstorming  Brainstorming o A process in which group members generate as many ideas about a problem as they can; criticism is withheld until all ideas have been proposed Models of Organizational Decision Processes  Bounded rationality o A less-than perfect form of rationality in which decision makers cannot be perfectly rational because decisions are complex and compete information is unavailable or cannot be fully processed  Incremental model o Model of organizational decision making in which major solutions arise through a series of smaller decisions  Coalitional model o Model of organizational decision making in which groups with differing preferences use power and negotiation to influence decisions  Garbage can Model o Model of organizational decision making depicting a chaotic process and seemingly random decision


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Jennifer McGill UCSF Med School

"Selling my MCAT study guides and notes has been a great source of side revenue while I'm in school. Some months I'm making over $500! Plus, it makes me happy knowing that I'm helping future med students with their MCAT."

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.