Chapter 5

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  1. Programed Decision Making
    Routine, virtually automatic decision making that follows established rules or guidelines
  2. Decision Making
    The process by which managers respond to opportunities and threats by analyzing options and making determinations about specific organizational goals and courses of action.
  3. Non programmed decision making
    Nonroutine decision making that occurs in response to unusual, unpredictable opportunities and threats.
  4. Intuition
    Feelings, beliefs, and hunches that come readily to mind, require little effort and information gathering, and results in on-the-spot decisions.
  5. Reasoned Judgment
    A decision that requires time and effort and results from careful information gathering, generation of alternatives, and evaluation of alternatives.
  6. Classical decision making model
    A prescriptive approach to decision making based on the assumption that the decision maker can identify and evaluate all possible alternatives and their consequences and rationally choose the most appropriate course of action.
  7. Optimum Decision
    The most appropriate decision in light of what managers believe to be the most desirable consequences for the organization.
  8. Administrative model
    An approach to decision making that explains why decision making is inherently uncertain and rissky and why managers usually make satisfactory rather than optimum decision.
  9. Bounded rationality
    Cognitive limitations that constrain one's ability to interpret, process, and act on information.
  10. Ambiguous Information
    Information that can be interpreted in multiple and often conflicting
  11. Satisficing
    Searching for and choosing an acceptable, or satisfactory, response to problems and opportunities, rather than trying to make the best decision
  12. Devil's Advocacy
    Critical analysis of preferred alternative, made in response to challenges raised by a group member who, playing the role of devil's advocate, defends unpopular or opposing alternatives for the sake of argument.
  13. Organizational Learning
    The process through which managers seek to improve employees desire and ability to understand and manage the organization and its task environment.
  14. Learning organization
    An organization in which managers try to maximize the ability of individuals and groups to think and behave creatively and thus maximize the potential for organizational learning to take place
  15. Creativity
    A decision makers ability to discover original and novel ideas that lead to feasible alternative courses of action.
  16. Innovation
    The implementation of creative ideas in an organization
  17. Production blocking
    A loss of productivity in brainstorming sessions due to the unstructured nature of brainstorming
  18. Nominal group technique
    A decision making technique in which group members write down ideas and solutions, read their suggestions to the whole group, and discuss and then rank alternatives.
  19. Delphi technique
    A decision making technique in which group members do not meet face to face but respond in writing to questions posed by the group leader.
  20. Entrepreneur
    An individual who notices opportunities and decides how to mobilize the resources necessary to produce new and improved goods and services
  21. Social entrepreneur
    An individual who pursues initiatives and opportunities and mobilizes resources to address social problems and needs in order to improve society and well being through creative solutions
  22. Intrapreneur
    A manager, scientist, or researcher who works inside an organization and notices opportunities to develop new or improved products and better ways to make them.
  23. Entrepreneurship
    The mobilization of resources to take advantage of an opportunity to provide customers with new or improved goods and services.
  24. Product champion
    A manager who takes ownership of a project and provides the leadership and vision that take a product from the idea stage to the final customer
  25. Skunkworks
    A group of intrapreneurs who are deliberately separated from the normal operation of an organization to encourage them to devote all their attention to develop new products
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Chapter 5
2013-03-19 23:08:06

Chapter 5 Management
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