Methods of making management decisions: the most effective of them
What is a management decision school necessary for?
Modern large business requires not only constant monitoring of its development, but also the timely submission of the necessary issues for consideration and the implementation of certain actions. There are various management decision-making methods that have evolved along with the management school. Among them there are quite a few overlapping methods, since some methods include the use of outsourcing, experts and specialists from outside, while others, on the contrary, advocate the need to use exclusively internal resources.
How to evaluate the correctness of the decisions made?
The main criterion for evaluating their effectiveness is the economic efficiency of management decisions. Profit, as well as enterprise productivity, varies in direct proportion to actions taken in the past.The quality of decisions is influenced by many factors, but first of all, economic factors are expressed, expressed in market uncertainty and the impossibility to predict in advance the direction of its development, as well as personal qualities of experts, their interest or, conversely, the lack of self-interest in making certain decisions.
Common between different methods of making management decisions
The methodology for making management decisions is different, some methods not only include different ways of choosing the most effective sequence of actions, but also require different resources. So, the main difference is the use of third-party experts or internal experts, as well as special mathematical models, with which you can get the likely development of events in the long term. In any case, management decision-making methods are based on the need to analyze the problem and, secondly, on decision-making based on the conclusions drawn from the study.
The most effective of all common methods.
The use of third-party professionals who work well in a team increases the effectiveness of the actions taken. This is because management decision-making methods often require an uninterested person to do the research. This affects the performance and accuracy of the conclusions to be made by the team. The greatest effectiveness is seen during the "brainstorming." This is because ideas appear there in a billow, a wave, in large quantities. Each specialist puts forward at least ten different options that are appropriate to the situation. The most senseless and ineffective are gradually cut off until a dozen or fewer sentences remain. These options are the best that the expert group has to offer. Efficiency increases when creating the right environment - the presence of coffee and chocolate that activates brain activity is imperative. Other management decision-making methods have also proven to be effective, but brainstorming has the most flexibility.