Introduction to Business management and Organizational Behaviour
Summary
Summary Management 13th edition
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Course
Introduction to Business management and Organizational Behaviour
Institution
Aeres Hogeschool (aeres)
Book
Management, Global Edition
This is a summary of the book management (thirteenth edition) including a list of all important definitions, organized by chapter. Every chapter except chapters 5, 6 and 14 are in this summary. The summary is extensive enough to learn everything, but not gigantic.
Subconscious mental processing, and Values or ethics-based decisions.
4
, Some problems are easy, they’re structured problems. Managers can respond with a
programmed decision, one that they make using their routine approach. They use
procedures or policies to deal with the issue.
Not all decisions are easy, there are also unstructured problems, these are new or unusual
problems. Managers cannot rely on programmed decisions, they must make
unprogrammed decisions. They use judgment, creativity, and skill to solve them.
The ideal conditions for making decisions is one of certainty, a situation where a manager
knows the outcome of every alternative and can make the best one. A far more common
situation is a risk, where a manager estimates the likelihood of certain outcomes. If a
manager has to make a decision in uncertainty, neither certainty or the risk is known. A
manager will then often apply either the Maximin, Maximax or Laplace (PABU06!) method to
decide which alternative is best.
Managers have two different main styles of thinking, linear thinking, and non-linear
thinking. Linear thinking tends to be more logical and rational and fact-based, non-linear
thinkers rely more on their intuition.
Managers often make twelve common decision errors based on biases they may have,
these are Overconfidence, Immediate Gratification, Anchoring Effect, Selective Perception,
Conformation, Framing, Availability, Representation, Randomness, Sunk Costs, Self-serving and
Hindsight.
Definitions:
Decision: A choice among two or more alternatives
Problem: An obstacle that makes it difficult to achieve a desired goal or purpose
Decision criteria: Criteria that define what’s important or relevant to resolving a problem
Rational Decision Making: Describes choices that are logical and consistent and maximize
value.
5
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