Technology Imperative in Managerial Decision-Making

2014 ◽  
pp. 158-176 ◽  
Author(s):  
Neeta Baporikar
Keyword(s):  
Decision Making ◽  
Decision Makers ◽  
Limited Information ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Face To Face ◽  
The Core ◽  
Use Of Technology ◽  
Management Approaches ◽  
Virtual Setting

Decisions can make or mar an organization. Decision-making is a multifaceted and intricate process. This process becomes even more complicated and complex when it comes to organizations, especially in this competitive world. Today, decisions are made not only under uncertainty, with available and/or limited information, but may also be made in a virtual setting. Decision makers may not be engaged in face-to-face deliberations. Hence, understanding the challenges, complexity, and rewards of the use of technology, especially information technology in managerial decision-making, is important. Such an understanding is not only vital in determining the efficacy of managers and their organizations, but also significant in designing future management approaches and organizations. This is the core objective of this chapter.

scholarly journals Decision-Making under Stress and Its Implications for Managerial Decision-Making: A Review of Literature

2016 ◽  
Vol 6 (3) ◽  
pp. 38 ◽  
Author(s):  
Nuray Atsan
Keyword(s):  
Decision Making ◽  
Literature Review ◽  
Coping Strategies ◽  
Theoretical Models ◽  
Decision Makers ◽  
Decision Making Process ◽  
Review Of Literature ◽  
Managerial Decision ◽  
Managerial Decision Making

<p>We examine the main theoretical models of decision making under stress and the effects of decision stress on decision making process to provide a deeper understanding of the decision making phenomenon. The literature review reveals that stress can have an impact on each stage of the decision-making process. The review also finds that decision makers could enhance their decision-making performance and prevent potential decision failures by means of adapting certain coping strategies.</p>

The Effects of Graphics and Cognitive Style on Managerial Decision Making

1986 ◽  
Vol 30 (13) ◽  
pp. 1244-1248
Author(s):  
Robert Robless ◽  
Glen Bottoms ◽  
Mark Lister ◽  
Woodrow Barfield
Keyword(s):  
Decision Making ◽  
Visual Acuity ◽  
Cognitive Styles ◽  
Three Dimensional ◽  
Decision Makers ◽  
Information Presentation ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Decision Making Problem ◽  
Problem Solving Strategies

This article describes an experiment that examined the effects of two versus three-dimensional graphs for two modes of information presentation, paper or computer, for a managerial decision-making problem. The effects of these variables on the problem solving strategies and cognitive styles of experienced and non-experienced decision makers were also examined. The experimental results indicated that solution times were faster for computer than for paper presentations of information, no significant effects for dimensionality were found, and there was no significant correlation between solution time and cognitive styles (visual acuity, Myers-Briggs test) across modes of information presentation.

OP102 Multiple Criteria Decision Analysis In The Field Of Hospital-Based Health Technology Assessment

2018 ◽  
Vol 34 (S1) ◽  
pp. 38-38 ◽  
Author(s):  
Andrey Avdeyev ◽  
Adlet Tabarov ◽  
Amir Akhetov ◽  
Nasrulla Shanazarov ◽  
Aigul Kaptagayeva ◽  
...  
Keyword(s):  
Decision Making ◽  
Health Technology Assessment ◽  
Technology Assessment ◽  
Health Technology ◽  
Multiple Criteria ◽  
Decision Makers ◽  
Multiple Criteria Decision Analysis ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Health Technologies

Introduction:One of the main tools for Hospital-Based Health Technology Assessment (HB HTA) is the preparation of a mini-health technology assessment (HTA) report. Despite the high value of the results of mini-HTA reports for hospital decision-makers, the classical mini-HTA report does not allow a direct comparison of several health technologies among themselves.Methods:Based on the analysis of international experience of using the principles of multiple-criteria decision analysis (MCDA) in the field of HB HTA, we created and approved our own managerial decision-making model which includes five standardized multiple criteria. The value (weight) of each criterion was defined as the arithmetic mean obtained as a result of interviewing hospital decision-makers and an HTA expert group.Results:Five standardized multiple criteria were included in the structure of our mini-HTA report. These criteria presented the main results of assessment of the viability of implementing new health technologies (HTs) in hospital practice and contain the following: i) Novelty/innovation; ii) Comparative clinical effectiveness and safety; iii) Relevance (demand); iv) Economic effectiveness; and, v) Payback period. We conducted the modeling of various options of HTA results by using multiple criteria, which allowed us to determine the threshold values of the evaluated HTs corresponding to their priority for implementation: i) High priority - HTs are recommended for implementation; ii) Medium priority - HTs can be recommended only if there are sufficient financial resources in hospital; and, iii) Low priority - HTs may be recommended only if there are strong reasons for their need.Conclusions:Integration of the principles of MCDA in the structure of mini-HTA reports gives the opportunity to i) make comparative assessments of implementing new health technologies based on standardized criteria; ii) determine the priority for implementation of newly evaluated health technologies; iii) avoid the influence of subjective factors on the managerial decision-making in hospitals.

Foundation of Linear Programming

2012 ◽  
Vol 3 (3) ◽  
pp. 40-60 ◽  
Author(s):  
Hossein Arsham
Keyword(s):  
Decision Making ◽  
Sensitivity Analysis ◽  
Linear Programming ◽  
Optimal Solution ◽  
Decision Makers ◽  
Shadow Prices ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Software Packages ◽  
Decision Variables

The aim and scope of this paper are the infusion of purposeful action by decision makers with an explicit understanding of analytical linear programming (LP) tools in order that the managers will implement strategic results correctly. The advances in computing software have brought LP tools to the desktop for a variety of applications to support managerial decision-making. However, it is already recognized that current LP tools do not answer the managerial questions satisfactorily. For instance, there is a costly difference between the mathematical and managerial interpretations of sensitivity analysis. The LP software packages provide sensitivity results about the optimality of a basis and not about the optimality of the values of the decision variables, and the shadow prices that are of interest to the manager. Society has developed the largest sensitivity region based on “optimal solution,” not that which “preserves the basis” that allows for simultaneous dependent/independent changes. The aim and results of this article are found further in the work.

scholarly journals Risk and Uncertainty Revisited: A Clarification of Theory and Application

2021 ◽  
Vol 14 (1) ◽  
pp. 1
Author(s):  
M. J. Alhabeeb
Keyword(s):  
Decision Making ◽  
Risk And Uncertainty ◽  
Managerial Decision ◽  
Core Element ◽  
Managerial Decision Making ◽  
The Core ◽  
Professional Research

In addition to the obvious public confusion and lack of distinction between the terms, risk and uncertainty and other related concepts, the interchangeable use seems to seep into the academic and professional research. According to a 2018 study by De Groot and Thurik, it was reported that 88.3% of articles in this topic, across the related fields, did not adhere to the distinction between risk and uncertainty, rendering all the undesirable theoretical and empirical consequences. This paper is intended to revisit the concepts of risk and uncertainty, not only clarifying the meaning and use of the terms, but also shedding a light on differentiating all the related concepts. The focus is on risk, being the core element directly related to the success and failure of all financial and managerial decision making. The approach is not only conceptual, but also supported by mathematical and numerical applications.

scholarly journals The Moderating Effect Of Culture On Full Versus Partial Mode Of Communication On Managerial Decision-Making

2011 ◽  
Vol 4 (7) ◽  
Author(s):  
Faiza Khoja ◽  
Chynette Nealy
Keyword(s):  
United States ◽  
Decision Making ◽  
Electronic Mail ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Face To Face ◽  
Individualism And Collectivism ◽  
Partial Mode ◽  
Effective Decision ◽  
Effective Decision Making

This paper examines the effect of face-to-face versus electronic mode of communication on effective decision-making when moderated by the individualism and collectivism. Hypotheses that collectivists use face-to-face mode of communication and individualists use electronic mail mode of communication to make effective decisions were tested on managers from two countries (Mexico and United States).

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