Coverage
COLLEGE OF HOTEL AND RESTAURANT MANAGEMENT
HRM 3I
PRINCIPLES OF MANAGEMENT
MIDTERM
References:
NEW ERA OF MANAGEMENT CONCEPTS & APPLICATIONS by: R. DAFT
PRINCIPLES OF MANAGEMENT by: ROBBINS / COULTER
HOTEL & MOTEL MANAGEMENT OPERATIONS by: WILLIAM GRAY
DECISION-MAKING: THE ESSENCE OF THE MANAGER’S JOB
Part 2
INTRODUCTION
Welcome to the world of managerial decision making managers often referred to as decision makers, and every organization grows, prospers, or fails as result of decisions made by its managers. Yet decision making, particularly in relation to complex problems such as those faced by many organizations, is not always easy. Good decision making is vital part of good management because decisions determine how the organization solves problems, allocates resources, and accomplishes its goals.
LEARNING OBJECTIVES:
The Decision-Making Process * Define decision and decision-making process. * Describe the eight steps in the decision-making process.
The Manager as Decision Maker * Discuss the assumptions of rational decision making. * Describe the concepts of bounded rationality, satisficing, and escalation of commitment. * Explain intuitive decision making. * Contrast programmed and nonprogrammed decisions.
The Manager as Decision Maker * Contrast the three decision-making conditions. * Explain maximax, maximin, and minimax decision choice approaches. * Describe the four decision making styles. * Discuss the twelve decision-making biases managers may exhibit. * Describe how manager can deal with the negative effects of decision errors and biases. * Explain the managerial decision-making model.
Decision Making for Today’s World * Explain how managers can make effective decisions in today’s world. * List six characteristics of an effective decision-making process. * Describe the five habits of highly reliable
HRM 3I
PRINCIPLES OF MANAGEMENT
MIDTERM
References:
NEW ERA OF MANAGEMENT CONCEPTS & APPLICATIONS by: R. DAFT
PRINCIPLES OF MANAGEMENT by: ROBBINS / COULTER
HOTEL & MOTEL MANAGEMENT OPERATIONS by: WILLIAM GRAY
DECISION-MAKING: THE ESSENCE OF THE MANAGER’S JOB
Part 2
INTRODUCTION
Welcome to the world of managerial decision making managers often referred to as decision makers, and every organization grows, prospers, or fails as result of decisions made by its managers. Yet decision making, particularly in relation to complex problems such as those faced by many organizations, is not always easy. Good decision making is vital part of good management because decisions determine how the organization solves problems, allocates resources, and accomplishes its goals.
LEARNING OBJECTIVES:
The Decision-Making Process * Define decision and decision-making process. * Describe the eight steps in the decision-making process.
The Manager as Decision Maker * Discuss the assumptions of rational decision making. * Describe the concepts of bounded rationality, satisficing, and escalation of commitment. * Explain intuitive decision making. * Contrast programmed and nonprogrammed decisions.
The Manager as Decision Maker * Contrast the three decision-making conditions. * Explain maximax, maximin, and minimax decision choice approaches. * Describe the four decision making styles. * Discuss the twelve decision-making biases managers may exhibit. * Describe how manager can deal with the negative effects of decision errors and biases. * Explain the managerial decision-making model.
Decision Making for Today’s World * Explain how managers can make effective decisions in today’s world. * List six characteristics of an effective decision-making process. * Describe the five habits of highly reliable