If managers frequently use experience and intuition to make complex, non-programmed decisions, how do they apply evidence-based management (which seems to suggest that managers should rely on facts and data)?
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If managers frequently use experience and intuition to make complex, non-programmed decisions, how do they apply evidence-based management (which seems to suggest that managers should rely on facts and data)?
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- Is it possible to make sound managerial decisions without business research? What advantages does research offer to the decision maker over seat-of-the-pants decision making?I expect all the managers in my department to act completely rationally in every decision they make , declared Eleanor Johnson, Vice President for marketing for the Olympic Toy Company. Every one of us, no matter what his or her position, is hired to be a professional rationalist, and I expect all of us not only to know what they are doing and why but to be right in their decisions. I know that someone has said that a good manager needs only to be right in more than half of his or her decisions. But that is not good enough for me. I would agree that you may be excused for occasionally making a mistake, especially if it is a matter beyond your control, but I can never excuse you for not acting rationally.I agree with your idea, Eleanor", said Jill Goldberg, her advertising manager, and I always try to be rational and logical in my decisions. But would you mind helping me be sure of this by explaining just what acting rationally is? Questions: 1. Explain how the Vice President…"I expect all the managers in my department to act completely rationally in every decision they make", declared Eleanor Johnson, Vice President for marketing for the Olympic Toy Company. "Every one of us, no matter what his or her position, is hired to be a professional rationalist, and I expect all of us not only to know what they are doing and why but to be right in their decisions. I know that someone has said that a good manager needs only to be right in more than half of his or her decisions. But that is not good enough for me I would agree that you may he excused for occasionally making a mistake, especially if it is a matter beyond your control, but I can never excuse you for not acting rationally" "I agree with your idea, Eleanor, said Jill Goldberg, her advertising manager, "and I always try to be rational and logical in my decisions But would you mind helping me be sure of this by explaining just what 'acting rationally is?" Questions: a) 1. Explain how the Vice President for…
- "I expect all the managers in my department to act completely rationally in every decision they make", declared Eleanor Johnson, Vice President for marketing for the Olympic Toy Company. "Every one of us, no matter what his or her position, is hired to be a professional rationalist, and I expect all of us not only to know what they are doing and why but to be right in their decisions. I know that someone has said that a good manager needs only to be right in more than half of his or her decisions. But that is not good enough for me. I would agree that you may be excused for occasionally making a mistake, especially if it is a matter beyond your control, but I can never excuse you for not acting rationally." "I agree with your idea, Eleanor", said Jill Goldberg, her advertising manager, "and I always try to be rational and logical in my decisions. But would you mind helping me be sure of this by explaining just what 'acting rationally' is?" Questions: 1. Explain how the Vice…How does effective decision-making contribute to managerial success, and what factors should managers consider when making important business decisions?A management science solution can be either a recommended decision or information that helps a manager make a decision. Discuss
- 3. Discuss the different roles played by the qualitative and quantitative approaches to managerial decision making. Why is it important for a manager or decision maker to have a good understanding of both of these approaches to decision making?Can intuition and evidence-based decision making coexist as valid approaches within an organization? How might managers combine their intuition with a rational, data-driven, evidence-based approach?If you are the organization's accountable managerial leader and you are one of the main decision-makers, what are the best-known innovative decision-making techniques?
- How can managers effectively analyze and utilize data and information to support decision-making processes, employing tools such as business analytics, data visualization, and performance metrics?Being a Manager in an Organization, you have to purchase a vehicle for pick and drop service for your employees. Explain the steps of Decision-Making Process and choose the best vehicle for your organization.What are the alternatives to using data to drive management decision-making? Do you think businesses statistics are becoming more important or less important for managers today? Why? Is it better to make management decisions based on data? Why or why not?