Managerial Decision Making (see instructions) Essay

Managerial Decision Making (see instructions) - Essay Example Managers in todays business environment are faced with numerous often-unplanned events that require decision-making. In the past it was more common for a manager to decide the course of action individually or within formal groups. Important decisions in the business circle are now deemed too risky or important to be made entirely by one person. A manager must seek the right advice from several different sources. Decisions made by group when dealing with problems and issues take place everyday in the life of an organization. Today it is often common for many managers to seek involvement from lower level employees in the decision making process whenever it can be done. However it is not always possible just to ask a colleague what they should do. Most decisions will require a process of a greater degree of subordinate participation; these decisions can be made through a variety of different ways such as committees, task groups, departmental participation and so forth. It is said that making decisions in a group allows for every angle to be looked at and every possible idea to be created with every decision from a group offering the best solution this method of decision-making. This paper hopes to discuss advant ages of group decision-making using several theories and some real life case studies. We will see how participation in decision-making affects companies decisions; we will look at several helpful models i.e. vroom-jago model and all referencing it to real life situations and quotes from famous persons in the field (Schwenk, 1990, p.161–176) Managers as part of their job are faced with many decisions in which they have to undertake, it is up to the managers themselves to decide in what kind of way they want to make the decision and solve the problem. However groups can offer an essential feature in decision making for an organisation. As Coghlan points out: Membership of teams and groups shape perception and participation in organisational