- Published: November 17, 2021
- Updated: November 17, 2021
- University / College: University of Reading
- Level: Masters
- Language: English
- Downloads: 38
Managerial Decision-Making
People who have to make decisions at all levels direct organizations. The manager has to plan, organize, control, staff and lead the organization towards meeting the goals and objectives of the organization. In their article, Ticha, Hron and Fiedler (2010) opine that the cognitive processes managers undergo during the making of any decisions allow them to select from a myriad of options and choose those that relate to the business industry. They state that the complexity of any situation will lower the predictability and stability of the decisions made due to the various steps taken to deal with them. A manager has to collate, analyze, and interpret information before seeking for alternatives. Many of those surveyed by the authors say that intuition is one of the main methods they use when they have to make decisions. Ticha, Hron and Fiedler argue that the use of intuition has replaced the traditional beliefs of rational scientific reasoning and may argue against or for the use of these new intuition models (2010).
Any manager knows that traditional scientific reasoning allows them to make decisions based on a model analysis. However, intuition seems to conflict with most of the sense views the managers have, making the process of making decisions quite difficult. Intuition is seen as highly developed and intricate reason that emerges from years of experience and learning. The decision-maker has had different learning sessions that dictate the patterns, facts and concepts that have been stored in one’s system over time (Ticha, Hron & Fiedler, 2010).
Decision-making in management is applicable at all times if one is working at any organization. The goal is to create platforms for employees to use their skills and competencies to enhance their position at the company and assist in gaining the profits expected at the end of the session. The goal is to create a career that others can emulate. Thus, it is applicable today.
Reference
Tichá, I., Hron, J., & Fiedler, J. (2010). Managerial decision-making: Importance of intuition in the rational process. Agric. Econ. – Czech, 56(12), 553–557.
