KP NKOSI
POWERPUFF GIRLS AND BOYS
3 Sep 2019, 21:57
| Initial and surname | student number | contribution |
| K.P Nkosi | 31792170 | learning outcome 5 |
| M Mashaphu | 31915736 | learning outcome 1 |
| K Qamakwane | 31683738 | learning outcome 3 |
| T Como | 29274478 | learning outcome 3 |
| M.G Monakedi | 33149313 | learning outcome 2 |
| T.S Soldaat | 30459650 | learning outcome 2 |
| O.A Ramasodi | 32457316 | learning outcome 1 |
| K.I Thokwane | 31985777 | learning outcome 4 |
chapter 14: fundamentals of decision making
1. Decision making definition
its an integral part of modern management based on the mental process on selecting course of action from a set of alternatives.
2. discussion of conditions of certainty, risk and uncertainty under which decisions are made.
CERTAINTY- condition when individuals are fully informed about a problem, alternative solution are obvious and the likely results to each solution are clear. Decision-making is easy after the certainty condition. Decision-making for this condition is the exception for most middle, top managers and various professionals.
RISK- condition under which individual can define a problem, specify the probability of certain events, identify alternative solutions and state probability of each solution lending to desired results.Its associated with probability and there are two different types of probability which are objective and subjective probability. Subjective probability is based on opinions while objective probability is based on hard facts.
UNCERTAINTY- condition under which an individual does not have the necessary information to assign probabilities to the outcomes of a alternative solution.Managers take this condition everyday. Its difficult to analyse factors that affect a decision.
3. characteristics of routine, adaptive and innovative decisions
| ROUTINE DECISION | ADAPTIVE DECISION | INNOVATIVE DECISION |
| standard choice made in response to well-defined problems with alternative solutions. | choices made in response to combination of fairly unusual and uncommon problems with alternative solutions.l | choices based on the discovery, identification and diagnosis of unusual and ambiguos problems and the development of unique and creative solutions. |
| decisions are covered by established rules or standard procedures. | often involves modifying or improving upon past routine decisions and practices needed for continuous improvement. | this decision making has four different phases that it makes uses of. |
4. how goals affect decision-making
Goals are results to be attained and hence show the direction in which decisions and reactions should be aimed. Goals provide a broad direction for decision-making in qualitative terms. The decision making process is usually triggered by an effort to discover new goals,review current goals or drop outdated goals. The search for better ways to achieve established goals will ultimately trigger the decision-making process.
5. difference between rational, bounded rational and political model.
- Rational model- it involves seven steps that are advised to be followed by a person or a team to increase the chances of their decision being logical and sound. when making adaptive or innovative decisions an individual or group do not follow the seven steps in order..
- Bounded rationality model- its the idea that rationality is limited when individuals make decisions: by the tractability of the decision problem, cognitive limitations of the mind, and the time available to make decisions. Decision makers are the satisficers, seeking a satisfactory solution rather than an optimal one.
- Political model- uses what the rational and practical models left out and posts that any organizational activity. its argued that decision making is embedded in certain social relations that are tacitly reproduced.
THE END