Tuesday, January 14, 2014

Decision Making - Managerial Implication

In the last byte, we looked at the ethical dimension of decision making. In today's byte, we look at the managerial implication of decision making as a critical activity.

As a manager, it is rare to have the luxury of optimizing, satisfying is a more realistic approach that one would need to take. Many a times the decision could be unpredictable and random!

Given that individuals differ in their preference for risk as well as styles of gathering information and making judgment; the manager would benefit from understanding these individual differences and can help managers maximize strengths in employee decision styles and build teams that capitalize on strengths like - creativity. By creating an enabling environment that is supportive, the employee's creativity could be nourished.

There is also no strict rule that defined whether decisions need to be taken up by individuals or teams/groups; it depends on the kind of requirement - the need to diagnose the situation, implement the appropriate level of participation etc and keep an eye on the potential for group think and other relevant biases that could creep in.

Ethicality in decision making is the bedrock on all good decision making.

No comments:

Post a Comment