Foundations of decision making - What types of decisions and decision-making conditions do managers face?
3 important questions on Foundations of decision making - What types of decisions and decision-making conditions do managers face?
What are structured and unstructured problems?
- Structured problems are straightforward. Goal of the decision maker is clear, problem is familiar and information about the problem is easily defined and complete.
- Unstructured problems are new or unusual. Information is vague or incomplete.
What are programmed and unprogrammed decisions?
- Programmed decisions are those that a manager has encountered and made in the past. Allowed for consistent choices.
- Unprogrammed decisions involve scenarios that are new and for which there are no proven answers to use as a guide. Take longer to make and the outcome is not easily anticipated.
What is the difference between procedures, rules and policies?
- Procedures: series of interrelated, sequential steps used to respond to a structured problem.
- Rule: an explicit statement that tells employees what can or cannot be done.
- Policy: A guideline for making decisions.
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