2. 11
Decision-Making

3. Learning Objectives Define the phases in the decision-making process.
Identify some models and styles of behavioral decision-making.
Present the participative decision-making techniques.
Discuss the creative process and group decision-making techniques.

4. Starting with Best-Practice Leader’s Advice
J. W. Marriott, Jr., on the Strategic Decisions Spurring Growth of the Hotel Chain
Became president of Marriott Corp in 1964 and CEO in 1972
Marriott Int’l operates under an umbrella of 18 brands
Father laid foundation for growth and success
Marriott built on fundamental ideals of service
Strategic decisions account for phenomenal 25 year growth
Expansion past core brand was important strategic decision
Other major driver of growth is geographic expansion

5. The Decision-Making Process

6. Behavioral Decision-Making
Decision Rationality
Models of Behavioral Decision-Making
The Economic Rationality Model
New Rational Techniques: ABC, EVA, and MVA

7. Behavioral Decision-Making
(Continued)

8. Behavioral Decision-Making
(Continued)
Models of Behavioral Decision-Making (continued)
The Social Model
Simon’s Bounded Rationality Model
Judgmental Heuristics and Biases Model

9. Behavioral Decision-Making
(Continued)
Decision-Making Styles
Directive Style
Analytical Style
Conceptual Style

10. Behavioral Decision-Making
(Continued)

11. Behavioral Decision-Making
(Continued)
Decision-Making Styles (continued)
Behavioral Style
Style Implications

12. Participative Decision-Making Techniques
Participation techniques are being applied informally on an individual or a team basis or formally on a program basis.
There are many positive and negative attributes of participative decision-making.
One problem is the tendency toward pseudoparticipation.
Perhaps the biggest advantage is that the participative approach to decision-making recognizes that each person can make a meaningful contribution to the attainment of organizational objectives.

13. Creativity and Group Decision-Making
The Process of Creativity
Psychological Definition and Analysis of Creativity
Creativity Techniques for Management Decision-Making

14. Creativity and Group Decision-Making
(Continued)
Group Decision-Making
The Delphi Technique
The Nominal Group Technique

15. ?
Questions