MUST INCLUDE AT LEAST 1 SCHOLARLY REFERENCE
Decision making is the process of identifying and choosing alternative courses of action. While we want to make rational decisions, sometimes we don’t . . . sometimes we make non-rational decisions.
There are four steps in rational decision-making:
- Recognize and define the problem or opportunity-In business the problem can come in the form of customer complaints, supplier breakdowns, staff turnover, sales decline, etc. Organizations proactively seek opportunities to exceed goals, surpass the industry expectations and to expand and grow the business.
- Identify and analyze alternative courses of action-Leaders should seek input from multiple sources to interpret and analyze the problem/opportunity to come up with as many options as possible to solve the issue.
- Choose a preferred course of action-The group want to answer the following: (1) Is the action ethical?; (2) Is it feasible? (costs, technology availability; (3) Is it effective? If your answer to this question is the resolution is “good enough” you want to rethink this solution it will cause more harm than good.
- Implement the preferred course of action-You need to the participation from all teams to successfully implement the action.
On the other hand, non-rational decisions are generally the result of either Satisficing (going with the first available option without much research) or Intuition (using your “gut” or just your own feelings to make decisions).
For this week’s discussion, think about a time when you made a non-rational decision on the job or in your personal life.
- Was it the result of satisficing or intuition?
- How would your decision have been different using the four steps for rational decision-making?
- How would the steps have helped you to make a better, or more sound, decision?
Performance Appraisals” Please respond to the following:
- Determine why organizations can have higher productivity when top managers encourage supervisors to set goals, assess performance, and provide feedback to employees. Support your answer with examples. Then, describe the experience you have had with performance appraisals and how your performance has been influenced by them.
- Go to businessballs’ Websiteand review the information regarding performance appraisals. Next, rate the importance of measuring performance and providing an opportunity for feedback. Support your position.
Communicating Bad News
Scenario: You are a middle manager at a large technology organization. You arrived at work today to find out that your organization is going through a reorganization. There will be mass downsizing – immediately. You met with your boss, who informed you that the company has been losing revenue for too long and immediate action is necessary. More decisions are to come.
Your job is not in jeopardy; however, you will lose team members in the downsizing. Your team members are panicked and you need to step up to address the issue with them. You also need to maintain productivity and the results.
You call a meeting to discuss this with your team. This is not an easy message to communicate, but a common one. You must be specific in your messaging. Consider and discuss:
- What is your communication strategy with your team?
- How often will you provide communication to your team about updates? You need to keep them informed, but not panicked.
- How will you get your key message across, while keeping your team productive?
- What can you do to reduce the challenges of distraction and the rumor mill for your team?