Overview
Peer response instruction:
Do you agree with the points your peers are making? Do you disagree? Why? Please always support your points by referencing the assigned materials.
350 words each reply’s
Zach
The process of managerial decision-making is important and has an important impact on an organization's efficiency and production. Making strategic decisions that support company goals, effectively organize resources, and improve processes are in the hands of managers. A well-structured decision-making framework can help and individual or group of managers make informed and transparent decision in complex situation (admin, n.d). An example might be since technology is advancing so rapidly decisions regarding updating regulations or implementing new technology can have a direct impact on how efficiently an organization's operations function.
One the other hand, looking at personal decision making, it tends to be a lot less complex than organizational decision-making. A personal decision is an individual’s choice made based on personal factors, unrelated to the organization’s operations. These informal decisions are driven by personal desires, emotions, or needs and are specific to the decision-maker’s life (TheMBAins, 2023).
Out of all the steps a manager has to take when making a decision finding and evaluating alternatives is one of the more difficult phases in managerial decision-making. For them to do this step managers must accurately predict possible outcomes, identify risks, and assess current benefits with long-term goals. Overall, managerial decisions have a major effect on the business, so managers must use an organized strategy to make sure that their decisions have a positive impact on the organization.
References
admin. (n.d.). The Steps. Structured Decision Making. https://www.structureddecisionmaking.org/the-steps/
TheMBAins. (2023, October 16). Personal Decision-Making in Management: Definition and Characteristics. TheMBAins. https://thembains.com/personal-decision-making/
Josh
Managerial decision-making is the heart and soul of every organization's success. It's the process through which leaders and managers identify challenges, analyze information, explore alternatives, and choose the most appropriate course of action (Staragile, 2024). It is important to have good managerial decision making because your organization will not thrive if the best decisions aren't made for the company. Having a good decision maker will always keep your organization pushing forward.
I believe that personal decision-making is easy compared to making decisions for an organization. I feel like it is easier because personal decision-making is something that only will affect you. Deciding for an organization is a lot more difficult because an organization involves multiple people, and they might not fully agree with what your personal decisions are for the organization. When you make personal decisions for yourself, the consequences are never as steep. In my own life, I feel like if I disappoint someone else, I would be more upset at myself because I affected someone else. According to Harvard Business School, “What we’re talking about is establishing a process of devil’s advocacy, either in an individual or a subgroup role,” he says. “That’s much more likely to lead to a deeper critical evaluation and generate a substantial number of alternatives” (HBS, 2020). This quote displays that you should have discussions going on regarding your managerial decisions so that the company can thrive in the best way possible.
Gavin, M. (2020, February 4). 8 Steps in the Decision-Making Process | HBS Online. Business Insights - Blog. https://online.hbs.edu/blog/post/decision-making-process
What’s New in PMBOK 6th Edition. (n.d.). Staragile.com. https://staragile.com/blog/what-is-management-decision-making