Decision Making and Managerial Decisions

This set of flashcards covers key vocabulary and concepts related to decision making and managerial decision processes.

Decision Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

Programmed Decision

A decision that is made based on established rules or procedures that have been developed from past experiences.

Non-programmed Decision

A decision that is unique and requires a custom solution based on the specifics of the situation.

Proactive Decision Making

Taking the initiative to make decisions in advance rather than reacting to events after they occur.

Reactive Decision Making

Making decisions in response to events or problems after they have occurred rather than anticipating them.

Intuitive Decision Making

Making decisions based on feelings or intuitions rather than a thorough analytical process.

Systematic Decision Making

Making decisions based on a structured process that involves assessing information and options methodically.

Complex Decision Making Process

A series of steps that includes identifying problems, generating alternatives, evaluating options, and implementing and evaluating the chosen decision.

Group Decision Making

A process that involves multiple individuals providing input and making decisions collaboratively.

Groupthink

A phenomenon where the desire for harmony in a decision-making group results in dysfunctional decision-making outcomes.

Satisficing

Settling for a decision that meets the minimum criteria rather than the best possible outcome.

Brainstorming Rules

Guidelines to promote creativity in group settings, including deferring judgment and encouraging wild ideas.

Crisis Management

The process by which an organization deals with a disruptive and unexpected event that threatens to harm the organization.

Damage Control

Activities designed to minimize the negative impact of a crisis on an organization’s reputation.

Action Plan in Crisis Management

A predetermined strategy detailing necessary actions to take during a crisis to restore control and credibility.