Description
Assignment Overview
Individual Project
Monitoring Performance
Tue, 5/8/18
Numeric
50
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View objectives for this assignment
Assignment Objectives
Assess leadership, interpersonal skills, and earned values with emphasis on the area of concentration
Construct performance baselines and manage and measure performance
You have just been promoted from front-line supervisor to be one of the firm's senior managers. During your business education, you learned that the primary role of a manager is to make good decisions. As a supervisor, you had frequently been making routine decisions, but you realize that decision making for the overall company can and will have far greater impact on the company and its employees.
Your boss, the chief executive officer (CEO), realizes that you do not have much practice in this higher level, decision-making process and has asked you to write a memo describing your understanding of how to make important decisions.
Your memo should address the following questions:
- Describe at least 3 criteria that would determine whether the manager is making good decisions. What should be done to better assure that you are making a good decision?
- In the realm of decision making, what are assumptions? Rather than use a dictionary definition, cite several specific assumptions that would go with any real-life decision you have made or have seen made at a company at which you have worked.
- Given the importance of proper assumptions, your boss asked you to assess the accuracy of certain business assumptions and what could you do to test or confirm the credibility of them. The following were major assumptions for each firm:
- An automobile manufacturer's assumption that the demand for SUVs would continue because gas prices would continue to rise
- An airline's assumption that there was a need for an airline that provided no added amenities
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Explanation & Answer
Attached.
Running head: DECISION MAKING AMONG MANAGERS
Decision Making Among Managers
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DECISION MAKING AMONG MANAGERS
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Criteria that would determine whether the manager is making good decisions
Decision-making is the action of making a decision within a given environment. The
decision made can be easy or difficult depending on the circumstances under which the decision
needs to be made. A decision that is made is not always the correct decision since there is need to
focus on crucial elements such as the impact of the possible decisions and ensure that the most
appropriate decision is chosen. Decision-making includes a high level of risk. This is mainly
because there is no common understanding on the impact of a given decision since there only exist
possibilities, which are evaluated in order to ensure that a highly successful decision is chosen
(Berry & Kato, 2018).
Determining whether a manager is making the correct decisions depends on a number of
factors such as success levels, employee commitment, level of work satisfaction and organization
development. Success is directly influences by the decisions that senior managers make and thus
if the organization is successfully it means that the decisions that are being made by...