UB T9 Decision Making Flashcards Preview

Higher Business Managment > UB T9 Decision Making > Flashcards

Flashcards in UB T9 Decision Making Deck (5)
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1
Q

Types of decisions

A

Strategic

  • long term
  • made by senior managers
  • high risk

Tactical

  • medium term
  • made by middle managers
  • medium risk

Operational

  • short term
  • made by supervisors and all staff
  • low risk
2
Q

Centralised & Decentralised decision making

A

Like in structures, centralised leaves decision making with senior management, where as with decentralised decision making is delegated to branches.

3
Q

SWOT analysis

A

Strengths weaknesses opportunities and threats.

Looks at internal and external influences.

4
Q

Factors affecting the quality of decisions

A

Human Resources

  • managers ability, training & experiences to make decisions and handle stressful and complex situations
  • staff resistance to change

Finance

  • is it available to exploit opportunities, address weaknesses or build on strengths?
  • constraints could mean not choosing the best solution
Technology
-spreadsheets “what if”
-databases
-email
-internet
-video conferencing 
Others
5
Q

Role of a manager

A
Plan
Organise 
Command
Coordinate 
Control
—————
Delegate
Motivate