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(1) Why might a manager need to deemphasize skills
honed in previous positions as he or she rises through
the organizational hierarchy? (2) Would top managers
or first-line managers typically have more or less of
the information they’d like to have for the decisions
they need to make? Why?
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- 1. Identify how each bias can impact a manager when they are performing a performance appraisal. a) How can the bandwagon bias/ effect impact a manager when they are performing a performance appraisal? b) How can the confirmation bias impact a manager when they are performing a performance appraisal? c) How can the outcome bias impact a manager when they are performing a performance appraisal? d) How can the Placebo bias impact a manager when they are performing a performance appraisal?Create a short managerial issue case and explain how trainees will develop good decisions to solve it: 1.List all types of evidence they will need to collect, and explain why; 2. Name the epidemiological data, studies, and metrics the trainees will need to support the decision-making process, explain why. 3.Explain the decision-making process the trainees will need to apply to this case. 4. List your own decisions and solutions for the case.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?
- Margaret Quinn, the president of Eastern Electric Corporation, one of the large electricutilities operating in the eastern United States, had long been convinced that effectiveplanning in the company was absolutely essential to success. For more than 10 years shehad tried to get a company planning program installed without seeing much result. Overthis time, she had consecutively appointed three vice presidents in charge of planningand, although each had seemed to work hard at the job, she noticed that individualdepartment heads kept going their own ways. They made decisions on problems as theycame up, and they prided themselves on doing an effective job of "fighting fires." But thecompany seemed to be drifting, and individual decisions of department heads did notalways tally with each other. The executive in charge of regulatory matters was alwayspressing state commissions to allow higher electric rates without having very much luck,since the commissions felt that…The senior managers of a large financial institution recognize the importanceof training and development for their staff. They have a clear policy that notonly should staff be trained and developed to meet the licensing andlegislative requirements that apply to their area of business, but that staffshould also be encouraged and enabled to engage in other appropriatedevelopment activities. The middle managers, who largely look after staffperformance and development, all welcome this policy. They have made itclear to all of their staff that development opportunities are available and canbe applied for at any time. Many individual managers have therefore puttogether a lost of courses that they think might be of interest to their staff, andmake these available to staff so that individual members of staff can pick-and-mix the courses that they feel they would like to attend. There is no restrictionon the number of courses that are allowed for each staff member, and it is upto each middle…For each situation, find the decisions using: • the optimistic approach • the conservative approach • The minimax regret approach A, B, C, and D are states of nature. X, Y, Z and Q are decision alternatives. 1. A 10 -9 7 14 -2 6. 2. A 10 -3 -7 Y. -7 13 6. -6 9. B
- 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 1,800According to a survey by Bain & Company, since 1993 the management tool most commonly used among global executives is Multiple Choice value chain analysis. industry and competitor analysis. strategic planning. environmental analysis.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?
- 6. Briefly discuss characteristics of the manager's roles in each of the following categories, based upon Mintzberg's research. Interpersonal: Informational: Decisional: 7. How does Katz describe the following management skills? Technical: Human: Conceptual:Put the differentiation of leadership and management in a business scenario, explain how it differs IF INFORMATIVE I WILL UPVOTEEE PLS PLS PLSSSSWhat are the implications for a manager of making decisions without considering the components of the management process? When answering you must:to. Explain what the decision-making process consists of.b. Establish the parts that make up the administration process and how these impact the decision making of a manager in an organization.