MANAGERS AS DECISION MAKERS
Posted by: Write My Essay on: December 28, 2017
Many managers face the challenges of making decisions in the workplace on a daily basis. Sometimes they have the assistance of team members to decide what is best for the company’s bottom line, but sometimes managers are confronted with the task of making the decision on their own. This is often where a manger can thrive, or in some cases, where they can crumble. While some decision can be relatively simple, others are extremely challenging and deal with an array of possibility to which the outcome is difficult to know.
Identify a Problem
Identifying and diagnosing the problem can only be accomplished by acknowledging that a problem exists and needs to be assessed and fixed. To determine whether a problem is present, a manager must have a goal ready from which to compare the current state of affairs: they must see the way things are and understand the way they ought to be. The Manager can compare current performance to past performance and the current performance of comparable companies. The anticipated future performance is another area where a manager can find information to assist in the decision-making process, (Yates, 2013).
Identify Decision Criteria and Allocating Weight
Using already-established decision-making criteria in identifying the best intervention strategy will improve any team characteristics that are deficient. A mix of improvement interventions should be determined in order to apply the criteria for each member of the team. When it is known what can be done to address the characteristics that are lacking, management will be better able to select who is the best candidate for the team.
In allocating, decisions are often based on options, projections and opinions. It is important for the decision-maker to give weight to give each of these components. This requires good judgement to be able to see what the best course of action should be, (Arsham, 2003).
Developing, Analyzing, Selecting and Implementing Alternatives
The manager must next develop alternative possible decisions. This requires the linkage of the diagnosed problem with possible outcomes. Either the decision can be ready-made or custom-made. The ready-made solution is usually a decision to which the manager has already thought of or used. This is common for managers who have many years of experience in their current role. The quality of education the manager has can also provide them with a greater array of information to fall back on.
Analyzing the alternatives is mainly driven by figuring out the value of each of the possible decisions and determining the best possible choice. When alternative decisions are approached with sufficient thought, the best decision is more easily recognized.
Selecting is when a manager turns their planning into action. This can be a difficult step for many managers who are often comfortable with the planning stage, but get cold feet when it comes time to execute. This is a time when many people question every aspect of their decision and begin to assume the worse. This is also called “paralysis by analysis.” To overcome this, managers can determine the best possible outcome of alternative decisions and then choose the option that has the best result – a process referred to as “maximizing.”
Implementing the decision is the act of carrying out the choice. The responsibility of carrying the decision out can be delegated to other people, but the decision-maker needs to sometimes carry out the action by themselves. Often, an operational manger is needed to carry out the plan. Other times, a decision can be made but not carried out. This is common when talking a lot is mistaken for actually performing the task, (Arsham, 2003).
Evaluate Decision Effectiveness
Finally, evaluating the decision needs to be undertaken to collect information about the decision’s success. Goals, such as a 10 per cent increase in revenue over the next year, a 40 per cent reduction in debt over the same period, or 100 per cent of deliveries on time are effective at evaluating whether a decision is being accomplished and what the rate of accomplishment is. Data can then be gathered to analyze where the plan is meeting the goals and where it falls short.
Arsham, H. (2003). Leadership Decision Making. University of Baltimore.
Yates, F.J. (2013). Decision Management. Michigan Ross School of Business.