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Discuss the four factors that determine how useful information is to a manager
Decision-making on the basis of available information is a part of the management function. The choice of strategies, delegating functions to subordinates, promotion of employees, actions to eliminate disruptions in the enterprise are all examples of decisions made by managers of the organization. Management is always a process of decision-making, and the decision is a response to an emerging issue or problem that must be addressed, and that the manager has no right to ignore or pass it to other people. Prosperity or failure of the company is the result of decisions taken by managers.
Taking decisions, the manager carries out a conscious choice from the available options or alternatives of actions on the basis of available information. He is responsible for selecting the information, finding the most actual for the solution and its realization. The higher level of management, the greater is the responsibility for making organizational decisions. That is why one of the most important work of any manager is to find, select and choose the necessary information, to sort it out.
Information is collected at various stages of development management of decisions. The variety of relevant information resulted in different approaches to its classification, and depending on the time of receiving the information, managers distinguish primary and secondary information. Primary is called information collected specifically for the preparation of the decision. Secondary is information that already existed before preparation of the decision, or this information has already been used for making other decisions. Secondary sources of information are the operational data, statistical records, reference works, and regulations. But in many cases only the specified data is not enough for the effective decision-making.
The importance of the information is to increase awareness among managers to make more informed decisions. Information content is determined by the needs of managers and produced administrative decisions. The information has to answer certain requirements: accuracy and reliability, optimal structure, sufficiency, accessibility, actuality.
It is possible to point 4 main factors that make it useful for the manager:
1. Information should be sufficient, that means its amount should fully reflect the state of the problem, since lack of information leads to the adoption of low-quality decisions, and unnecessary information complicates the decision-making process. For example, if a manager has information about mistakes in the work of the employee, he may decide to dismiss him. While the manager is not informed about the positive results that had previously brought this employee for the company, so the dismissal will not be right decision, due to insufficient information on the work of the employee.
2. Availability of information means that it must come and be accumulated in such a way, that it can be quickly and easily get and used by managers. Language and the form of information should be appropriate for managers, that is why they often use such important visual information as graphics tablets, light boards, slides, etc.
3. Information must come to the managers in a timely manner, because it if is get too late, then it leads to economic loss. Because of the non-operational information transmission managers are not able to make effective decisions. An example of the importance of timeliness of information can be case with problems with the supply of resources. In the case of high efficiency of information flow, the manager can make decision on time and avoid the problem before the production is stopped.
4. The reliability of the information which is determined by its truthfulness, accuracy, type of source and method of transmission. For decision-making managers use only approved sources of information in order to avoid inaccuracies and mistakes. A good example of sources of information and its reliability can be verbal information. To obtain timely information managers often use the practice of oral presentations. In this case, the employee not always can properly express his thoughts, or the manager may not properly understand the speech of the employee. Thus, the meaning and content of the information changes and is distorted.

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