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OrgMa Day 4

The document discusses a framework called ACT for solving management challenges: Analyze your situation, Choose your best strategy, and Track your choice. It outlines the steps in decision making as identifying the problem, specifying objectives and criteria, developing alternative solutions, analyzing and comparing alternatives, selecting the best alternative, implementing it, and monitoring/evaluating. Technical, conceptual, and people skills are important for management. Decision trees can help analyze alternatives and choose the best path. Exercises using decision trees can improve management skills.

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Christine Salazar
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63 views23 pages

OrgMa Day 4

The document discusses a framework called ACT for solving management challenges: Analyze your situation, Choose your best strategy, and Track your choice. It outlines the steps in decision making as identifying the problem, specifying objectives and criteria, developing alternative solutions, analyzing and comparing alternatives, selecting the best alternative, implementing it, and monitoring/evaluating. Technical, conceptual, and people skills are important for management. Decision trees can help analyze alternatives and choose the best path. Exercises using decision trees can improve management skills.

Uploaded by

Christine Salazar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Caselet and Exercises

Analyze your Choose your


situation. best Strategy.
Deep and Sussman (2000) suggest
solutions for management challenges in
their book ACT on it! through the ACT
acronym:

Track your choice.


Analyze your situation.

analyzing is a process that helps you identify opportunities and


challenges,Both internal and external,to your organization.It can also
help to define the scope of a problem
Choose your best Strategy

A good strategy can help to have a better outcome on a particular


problems or task and identify trends and opportunities in the future
Track your choice.

Knowing what decisions you've made and a path you chose on leading
you to achieve your goals.
The book details answers to frequently-asked-questions, such as those on personal
effectiveness, communication solutions, employee empowerment, and accountability
for management students and business practitioners alike. It is useful to note that the
aptitudes and suggested development areas conform to the basic management skills
listed by Bateman and Snell (2008)-technical, conceptual, and people skills.
The aptitude to perform specialized tasks involving particular methods or processes
are called technical skills, while the facility to identify and resolve problems for the
benefit of an organization and its members are conceptual and decisional skills.
Interpersonal skills, or people skills, defined as the talent to lead, motivate, and
communicate effectively with others, are often identified with top-level managers or
candidates for executive positions.
In summary, the skill sets, levels, and functions allow for a definition of management
as "the process of working with people and resources to accomplish organizational
goals effectively and efficiently." Effectiveness means organizational goals are
achieved, while efficiency means goals are achieved with minimal waste of money,
time, materials, and people.
Decision tree
A decision tree is a flowchart-like structure in
which each internal node represents a "test"
on an attribute (e.g. whether a coin flip comes
up heads or tails), each branch represents the
outcome of the test, and each leaf node
represents a class label (decision taken after
computing all attributes).
Analyze, Choose, Act

Analyze - to find out or to make sure what path they


will be choosing that is appropriate with their skill

Choose - to choose the correct path what is best and


not beyond their capabilities

Act-Do something or take action to act out what's


your decision and to follow up on your results
Figures 1.1 and 1.2 show what management is-the pyramid allows for top-to-bottom and
bottom-to-top interaction, and the left-to-right, right-to left, and cyclical flow of
functions help visualize an effective and efficient performance across the business
enterprise.
Supplement to Chapter 1: Decision-Making The case method template, an
academic tool for business courses also used to teach the decision-making stages,
outlined by Heizer (2008) in figure 1.3.
Decision Making Stages

The decision-making stages are imperative in


honing management skills for all business
activities. The stages are reminiscent of the
scientific method approach, which includes
observation and problem-solving skills The
algebraic approach for stating the given variables
to identify an unknown variable x also dictates a
step-by-step approach to problem solving.
Identify the problem

Identifying the root cause of the problem by collecting


information/recognizing the problem that needs to be address.
Specify objectives and criteria for choosing the solution

Clearly stating the desire outcomes and objectives that the solution should
achieve.
Develop alternatives solution

Generating and considering different possible solution to a certain


topic/problem.
Analyze and compare alternatives

Estimate the advantages and disadvantages of those alternatives.


Select the best alternative solutions

It is the stage of choosing the most suitable option based on the analysis.
Implement the chosen alternatives

Putting the chosen alternative into action.


Monitor and evaluate the implemented alternatives.

Monitoring and evaluating the implemented solution to ensure it achieves


the desire results.
There are many unknowns in the business environment and observation and problem-
solving techniques derived from science and mathematics subjects are helpful for
business practitioners and students alike. Unlike scientific and mathematical solutions,
however, managerial challenges and problems, including the decisions that need to be
made for them, are characterized by risk, conflict, and uncertainty.

While production and operations management courses have established decision trees,
schematic diagrams that measure alternatives, the available information or 'case facts'
often amend the chosen alternative.
Decision tree exercises may be used to hone the skills of business practitioners and
management candidates. The decision models are necessary prerequisites for the
environmental analysis method in Chapter 2 of this book.

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