ADM 2372 Lecture Notes - Lecture 2: Customer Satisfaction, Online Analytical Processing, Decision Analysis
29 Sep 2016
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Chapter 2 decisions and processes- value-driven business: Managerial decision-making challenges: managers need to analyze large amounts of information, managers must make decisions quickly, managers must apply sophisticated analysis techniques, such as porter"s strategies or forecasting, to make strategic decisions. Challenge: executive the turnaround plan that calls for transforming the once-dominant smartphone maker into a company focused on software, services, secure communications, and the internet of things. Decision making and problem solving occur at each level. Employees develop, control, and maintain core business activities required to run the day-to-day operations. Structured decisions: situations where established processes offer potential solutions. Employees evaluate company operations to identify, adapt to, and leverage change. Semi-structured decisions: occurs in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommended decision. Managers develop overall strategies, goals, and objectives.
