Selecting an Alternative in Decision Making

Selecting an Alternative: Three Approaches When selecting from among alternatives, managers can use three underlying approaches: (1) consume. (2) Experimentation, and (3) research and analysis (Figure 6-1). 1. Experience Reliance on past be probably plays a larger part than it deserves in ridicule making. Experienced managers usually believe, often without realizing it, that the things they have victorfully fulfill and the mistakes they have made generate almost infallible guides to the future. This billet is likely to be more pronounced the more come a manager has had and the higher he or she has move in an organization. To some extent, experience is the best teacher. The very concomitant that managers have reached their position appears to justify their past decisions. Moreover, the process of thought problems through, making decisions, and seeing programs succeed or fail does subscribe to for a degree of good judgment (at times bordering on intuition). M all people, however, do non learn from their errors, and there ar managers who seem never to gain the seasoned judgment needful by the modern enterprise. Relying on past experience as a guide for future action can be dangerous.

In the first place, most people do not recognize the underlying reasons for their mistakes or failures. In the second place, the lessons of experience may be entirely inapplicable to new problems. full(a) decisions must be evaluated against future events, while experience belongs to the past. On the other hand, if a person carefully analyzes experience, rather than blindly following it, and if he or she distills from experience the fundamental reasons for success or failure, then experience can be effective as a basis for decision analysis. A roaring program, a well-managed company, a profitable product promotion, or any other decision that turns out well may furnish useful data for such distillation. Just as scientists do not hesitate to build upon the research... If you want to get a full essay, order it on our website: Ordercustompaper.com

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