CHAPTER SEVEN END-OF-CHAPTER ACTVITIES - MGMT201 - GB

In today's fast-paced business environment, decision making is a critical task for managers. Making the right decisions is vital to the success of a company, and it requires access to relevant information. Cari Pump (CP) Company manufactures water pumps. An important part of the pump is its electronic component (EC). Cari Pump collects data with the following cost information about the costs of making ECs in 2019 and the expected costs in 2020: Current Costs (2019) Expected Costs (2020) Fixed manufacturing cost Fixed manufacturing overhead costs that can be avoided if ECs are not made Fixed manufacturing overhead costs of plant depreciation, insurance, and administration that cannot be avoided even if ECs are not made Variable manufacturing costs Direct material cost per EC Direct manufacturing labor cost per EC Variable manufacturing cost per batch for setups, Materials handling, and quality control 360,000 850,000 $ 200 60 2,000 360,000 850,000 $ 190 55 1,800

You have been employed in the hospital’s business office for 12 years. Starting in a clerical capacity, you worked your way up through several jobs in the department. You consider yourself friends with all 14 other business office employees, and at least two of them are among your closest friends. Recently you were appointed business office manager. You willingly accepted the position. You believe that although one or two persons in the department may feel some slight resentment over your appointment, they are, for the most part, supportive. However, you realize that as a supervisor, it may sometimes be necessary for you to do things that are inconsistent with your feelings for this group of people, these people with whom you have worked for so long. Questions: Describe the effect of interpersonal communication when the supervisor is doing the talking. Describe the effect of interpersonal communication when the supervisor is doing the listening.

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?

(a) Discuss the various types of decision-making models with particular relevance to an organization of your choice.

How would you distinguish a job from a career from a calling? Do you have a calling? What is it? Explain what you take to be the strongest argument in defense of an employee’s right to participate in managerial decision making. Explain what you take to be the strongest argument against such a right.

Miriam and Devon are both upper-level managers, but have very different decision-making styles.  Please name and describe in your own words four decision making processes that could be used to guide their decision making.  In addition, provide and explain in your own words 10 ways in which their decision could, in general, be derailed or hindered, and explain each.

What are the ethical considerations in management decision-making, and how do they influence the reputation and success of an organization?

Consider yourself a manager of any well-structured organization where you are leading a team. Your Management has asked you to arrange a training program for your team to build their IT skills. Which decision making process will you follow to arrange this training program for your team?

What can individuals do to improve the quality of their decision-making? Would you rather work for a company that takes a stakeholder or stockholder approach in its dealings with customers, employees, suppliers, and other constituencies in its network? Explain the concepts the ends justify the means, and the means justify the Which of the two best ascribed your management style and achieve organizational efficiency? What type of leaders and leadership styles and practices often lead to problems with employees, customers, and other stakeholders and stockholders?

Need Unique Answer don't copy please Write a two-paragraph essay describing your decision process (as outlined above), including its strengths and weaknesses. Your essay must include at least two properly described and referenced decision methods or styles from the text. For example, if your decision was impeded by bias, describe if it was confirmation bias, anchoring, or some other kind of bias. Answer and address these questions: What is your preferred decision-making style? How does your style work for you? Are you always satisfied with your decisions? What method from the text would you consider for your future decision making? How important is decision making in the role of a business leader? Provide an example. In addition to the text, you are encouraged to research decision-making methods using reliable and properly cited Internet resources. You may also draw from your personal experience with appropriate examples to support your references.

Why is the management environment analysis important? What impact does this analysis have on decision making?

What are the basic characteristics of managerial decision-making?

What role does prospect theory play in understanding decision-making under risk and uncertainty?

Your Task For each scenario, discuss the following: - What is the issue (there may be more than 1)? - Who are the parties affected? - List and explain 2 alternatives for handling each situation o Discuss 2 pros and 2 cons for each alternative What is your conclusion? Discuss the best way to handle each situation - use reasoning to justify your decision Situation You manage a catalog phone center|where each of your 20 workers answers phones all day in one of four cubicles. You have just received another complaint from one of the women in the department. She is disturbed because one of the workers in her cubicle has put pictures of women in bathing suits up all over his workspace. She finds this offensive. She had asked him to remove the pictures, but he refused. This is the second time a complaint of this nature has taken place. Last time you switched him to another cubicle.

Preparation The Decision Making module of your text provided numerous decision tools and methods to use during the decision process. In this assignment, you will draw upon your personal decision-making experience. As you learned in the module, people make decisions with our biases and preferred styles in play. You will describe your decision, what choices were involved, how you made your decision, and what the outcome was, relating your process to the rational decision-making process described in the text. The following steps will help you prepare for your written assignment: Carefully consider the tools and methods described in the reading to assist with Management Decision Making. Think of a decision you have made or been involved in making. This could be a personal decision or a work-related decision. Your Task Part I Outline your decision process as it relates to the six steps of the rational decision-making process described in the text: Step 1. Identify the Problem Step 2.…

What are the business related facts within the scenario to develop an argument in favor of a group decision versus an individual decision?

Discuss FOUR (4) ethical questions that a manager should ask when evaluating a proposed action to make decision.

outline the steps one would take as a business manager or owner to minimize the effects of motivation and emotions on decision-making.

Write a paper  that addresses the following points: Identify at least one bias that impacts your decision making process.  Discuss what triggered this particular bias and what steps you plan to take it to address it.  Discuss how this bias impacted your decision.  How confident do you feel about your decision making processes in general?  Do you suffer from the "overconfidence" syndrome? If so, under what circumstances?

"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…

"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…

Describe the kind of factor that affected decision-making in each situation and why. 1. Michael rejected the offer of a new supplier because he knew that the supply manager was a longtime rival. 2. Monica decided to sell her company’s computer system because she thinks this is causing the poor performance of her company.

Your firm has been engaged by a manufacturing firm to make a study of top management. As the study neared completion, the president instructed you as to what she expected the recommendations and findings to be and directed you to come to this conclusion. What should be your response?

Replace this text with your response to the following in 750–1,050 words (10–14 paragraphs): For this prompt, consider your personal and professional goals, including (but not limited to) such topics as self-enrichment (health, relationships, etc.), family life, social awareness/social change, finances, personal achievements, professional/career goals, leadership, etc. After considering these topics, address the following: Identify three to five things that you want to work on related to your personal and professional success. Describe the steps you will take to address each of these ideas. Explain how you will accomplish these steps (i.e., what is your plan?). Identify who can help or support you with these steps. Determine by when you will accomplish these steps (i.e., when is each due?). Based on your responses in items a–e, compose one SMART goal for each of the things you identified that you want to work on related to your personal and professional success.

How does effective decision-making contribute to managerial success, and what factors should managers consider when making important business decisions?

Describe an example professional experience that used different options for reducing the cost of a project. What options did they use? Was it successful or not at reducing cost? Did (or do) you agree with the decision-making of the company (organization)?