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Essentials Of Contemporary Management Jones 5th Edition

8 months ago By Christina Sanchez

essentials of contemporary management jones 5th edition

Essentials Of Contemporary Management Jones 5th Edition >

Essentials Of Contemporary Management Jones 5th Edition

Chapter 5: Decision Making, Learning, Creativity, and Entrepreneurship The Nature of Managerial Decision Making Decision making is the process by which managers respond to the opportunities and threats that confront them by analyzing the options and making determinations, or decisions, about specific organizational goals and courses of action -Decision making in response to opportunities occurs when managers search for ways to improve organizational performance to benefit customers, employees, and other stakeholder groups -Decision making in response to threats occurs when events inside or outside the organization are adversely affecting organizational performance and managers are searching for ways to increase performance Programmed decision making is a routine, virtually automatic process -decisions that have been made so many times in the past that managers have developed rules or guidelines to be applied when certain situations inevitably occur -managers do not need to repeatedly make new judgements about what should be done Nonprogrammed decision making is required for non-routine decisions, made in response to unusual or novel opportunities and threats -occurs when there are no ready-made decision rules -situation is unexpected or uncertain -make decisions by intuition, feelings, beliefs, and hunches that come readily to mind, require little effort and information gathering and result in on-the-spot decisions reasoned judgementsPrima te gebruiken dusMvMark2 years agoduidelijke samenvattingRelated documentsSummary: Book " Essentials of Contemporary Management" Gareth Jones R.; Jennifer MIf distributors become large, they can control customers access, they can threaten the organization by demanding that it reduce the price of its goods and servicesResult from factors such as manufacturing products in very large quantitiesChapter: CH1CH2CH3CH4CH5CH6CH7CH8CH9CH10CH11CH12CH13CH14 Problem: 1BMQ1BMS1CQ1MEQ1TDA2BMQ2BMS2CQ2MEQ2TDA3BMS3CQ3TDA4BMS4TDA5BMS5TDA6BMS6TDA7BMS7TDA8BMS8TDA9TDA FS ▲ ▼ show all steps

Customers: Individuals and groups buy the goods and services that an organization produces Competitors: Produce same products or services: Fierce competition drives down prices and profits, unethical companies often try to find ways to collude with competitors to keep prices highThe decisions that managers make about how to distribute products to customers can have important effects on organizational performance risk and uncertainty - risk is present when managers know the possible outcomes of a particular course of action and can assign probabilities to them - when uncertainty exists, the probabilities of alternative outcomes cannot be determined and future outcomes are unknown ambiguity ambiguous information is information that can be interpreted in multiple and often conflicting ways time constraints and information costs managers have neither the time nor the money to search for all possible alternative solutions and evaluate all the potential consequences of them Satisficing Searching for and choosing an acceptable response to problems and opportunities, rather than trying to make the best decisionGet started today for free Textbook Materials (43) Quizzes 12-15 exam 3 mgmt papas2016-12-19 ChView a full sample -E commerce and IT: utilizing new information systems and technologiesOther people won’t see your birthdayMonth January February March April May June July August September October November December Day 12345678910111213141516171819202122232425262728293031 Year Sign up Log in By signing up I agree to StudyBlue's Terms of Use and Privacy Policy Already have an account? Log in 6 Strategic Management2015-09-24 MANAG 3123 Study Guide (2014-15 Pappas)2015-03-31 LAW Chapter 492014-12-11 Ryan & Big Dick Ralph's Final Exam Cards MGMT 20142014-12-08 MGT 101 - Chapter 112014-12-05 Quizzes 12-15 exam 3 mgmt papas2014-11-21 vocab and terms mgmt exam 32014-11-20 MGMT exam 3 multiple choice2014-11-20 Chapter 9: Motivation Deck2014-04-29 MANAG 3123 Study Guide (2013-14 Pappas)2014-03-13 Exam 22014-03-13 3: Traits and Values (connect with Ch

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Updated 09:22 - 18 Jul 2017 by Christina Sanchez

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