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IE 4302 - Ch 05
Dr. Loomis' Mgmt for IE
66
Engineering
Undergraduate 3
02/13/2011

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Cards

Term
managerial decisions (list)
Definition
programmed vs non-programmed decisions
proactive vs reactive decisions
intuitive vs systematic decisions
Term
decision-making process steps (list, 1-5)
Definition
1. establish specific goals and objectives
2. identify and define the problem
3. establish priorities
4. determine causes of the problem
5. develop alternative solutions
Term
decision-making process steps (list, 6-9)
Definition
6. evaluate the alternatives
7. select a solution
8. implement the decision
9. follow-up
Term
individual decision making, factors (list)
Definition
values
personality
propensity for risk
potential for dissonance
Term
decision-making influencer environment (list)
Definition
1. reason, 2. emotion, 3. knowledge, 4. uncertainty, 5. risk, 6. group factors, 7. imagination, 8. individual factors
Term
decision
Definition
a conscious choice among analyzed alternatives, followed by action to implement the choice
Term
decision-making process
Definition
a series or chain of related steps leading to a decision, its implementation, and follow-up
Term
TQM approach to decision making process
Definition
1) decision must be based on measurable facts
2) decisions should focus on CI
3) teams of workers can often make better decisions than managers
Term
programmed decision
Definition
a decision that is repetitive and routine, with a definite procedure developed for handling it
Term
non-programmed decisions
Definition
novel, unstructured decisions
Term
programmed decisions (type of problem)
Definition
frequent, repetitive, routine, much certainty regarding cause-and-effect relationships
Term
non-programmed decisions (type of problem)
Definition
novel, unstructured, much uncertainty regarding cause-and-effect relationships
Term
programmed decisions (procedure)
Definition
dependence on policies, rules, and definite procedures
Term
non-programmed decisions (procedure)
Definition
necessity for creativity, intuition, tolerance for ambiguity, creative problem solving
Term
programmed decisions (business, example)
Definition
periodic reorders of inventory
Term
programmed decisions (university, example)
Definition
necessary grade point average for good academic standing
Term
programmed decisions (health care, example)
Definition
procedure for admitting patients
Term
programmed decisions (government, example)
Definition
merit system for promotion of state employees
Term
non-programmed decisions (business, example)
Definition
diversification into new products and markets
Term
non-programmed decisions (university, example)
Definition
construction of new classroom facilities
Term
non-programmed decisions (hospital, example)
Definition
purchase of experimental equipment
Term
non-programmed decisions (government, example)
Definition
reorganization of state government agencies
Term
proactive decision
Definition
a decision made in anticipation of an external change or other conditions
Term
reactive decision
Definition
a decision made in response to external changes
Term
intuitive decision making
Definition
a process of estimating or guessing to decide among alternatives
Term
systematic decision making
Definition
an organized, exacting, data-driven process for choosing among alternatives
Term
intuitive decisions (examples, 1)
Definition
"my hunch is that we should improve customer support after we sell them our product"
Term
intuitive decisions (examples, 2)
Definition
this process is out of control and needs adjustment
Term
intuitive decisions (examples, 3)
Definition
"My feeling is that this firm could benefit from TQM"
Term
systematic decisions (examples, 1)
Definition
"customer surveys have indicated that we need to improve post-sale support"
Term
systematic decisions (examples, 2)
Definition
"Control charts indicate that this process has been operating..."
Term
systematic decisions (examples, 3)
Definition
"Based on success I've observed with TQM in firms similar to ours, ..."
Term
managing by fact (list, short, 1-5)
Definition
1) identify source of material; 2) don't be seduced by dramatic graphics/charts; 3) don't succumb to persuasiveness; 4) be wary of presenter's vested interest; 5) consider how data was compiled
Term
managing by fact (list, short, 6-10)
Definition
6) look for statistical checks; 7) check if data is being overextended/over-interpreted; 8) consider relevance and applicability of data; 9) results of single study should be used with caution; 10) simple data belies underlying complexity
Term
decision formulation
Definition
the process of 1) identifying decision opportunity/need, 2) collecting info, 3) develop alternatives, and 4) select alternative
Term
decision implementation
Definition
the process to implement the alternative and then do follow-up to assess each of the implementation alternatives
Term
decision-making process (step 1)
Definition
establish specific goals and objectives
Term
decision-making process (step 2)
Definition
identify and define the problem
Term
decision-making process (step 3)
Definition
establish priorities
Term
decision-making process (step 4)
Definition
determine causes of the problem
Term
decision-making process (step 5)
Definition
develop alternative solutions
Term
decision-making process (step 6)
Definition
evaluate the alternatives
Term
decision-making process (step 7)
Definition
select a solution
Term
decision-making process (step 8)
Definition
implement the decision
Term
decision-making process (step 9)
Definition
follow-up
Term
escalation of commitment
Definition
an increased commitment to a previous decision despite contrary information
Term
process improvement team
Definition
the "working team" of a CI process consisting of anyone from the organization who can contribute to a problem's solution
Term
techniques for stimulating creativity in group decision making (list)
Definition
1) brainstorming
2) Delphi technique
3) nominal group technique
Term
brainstorming
Definition
a process whereby a group of individuals generate ideas according to a firm set of rules while at the same time avoiding the inhibitions that are usually caused by face-to-face groups
Term
Delphi technique
Definition
a process involving soliciting and comparing anonymous judgements on the topic of interest through a set of sequential questionnaires that are interspersed with summarized information and feedback of opinions from earlier questionnaires
Term
nominal group technique (NGT)
Definition
a process of brining people together in a group to solve a problem. In the NGT participants aren't allowed to communicate verbally in the initial phase.
Term
Attributes of useful information (list and def.)
Definition
accessible, timely, relevant, accurate,
verifiable, complete, clear
Term
accessible (of info)
Definition
obtained easily/quickly
Term
timely (of info)
Definition
available when needed
Term
relevant (of info)
Definition
managers need to make a particular decision
Term
accurate (of info)
Definition
error free
Term
verifiable (of info)
Definition
confirmed
Term
complete (of info)
Definition
all details are available
Term
clear (of info)
Definition
stated so no facts are misunderstood
Term
management information system (MIS)
Definition
a combination of computers and regular, organized procedures to provide managers with information needed in making decisions
Term
MIS functions
Definition
1) collection of data; 2) storing and processing of data; 3) presenting info to managers
Term
database management system (DBMS)
Definition
a computer software program that helps firms manage their data files
Term
computer network
Definition
...
Term
local area network (LAN)
Definition
...
Term
decision support system (DSS)
Definition
an interactive information system that enables managers to gain instant access to information in a less structured format than an MIS
Term
executive information system (EIS)
Definition
a user-friendly DSS designed specifically for executives. It's easy to use and requires no knowledge of the computer
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