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When making group decisions, managers often encounter conflicts of opinions. Do you think this conflict of opinions in a group is healthy?
Involving more people in the decision-making process can greatly improve the quality of a manager’s decisions and outcomes. However, involving more people can also increase conflict and generate other challenges. We turn now to the advantages and disadvantages of group decision-making.
What else can I help you with?
Are managers judged by their decisions?
yes
How can managers avoid risk in decision making?
can the managers avoid making decisions
What is the cause of agency problem by managers?
The agency problem arises when there is a conflict of interest between managers (agents) and shareholders (principals). Managers may prioritize their own goals, such as job security, personal perks, or short-term profits, over the long-term interests of the shareholders. This misalignment can lead to decisions that do not maximize shareholder value, as managers might engage in risk-averse behavior or pursue projects that enhance their power rather than profitability. Effective governance mechanisms, such as performance-based incentives and oversight, are essential to mitigate these conflicts.
When making decisions managers should?
today
What allows managers to make better resource ordering decisions?
In ICS Typing resources allows managers to make better resource ordering decisions by
How does wealth maximization goal take care of conflict between shareholders and managers goals?
The wealth maximization goal aligns the interests of shareholders and managers by focusing on increasing the overall value of the company, which benefits both parties. When managers prioritize actions that enhance shareholder value, such as improving profitability and managing risks, they inherently address potential conflicts that arise from differing objectives. This alignment encourages managers to make decisions that foster long-term growth and stability, ultimately leading to a more harmonious relationship between the two groups. Additionally, performance-based compensation for managers can further incentivize them to act in the best interests of shareholders.
What do top managers rely upon to make strategic decisions?
Managers at this level must often depend on past experiences and their instincts when making strategic decisions.
What makes managers make wrong decisions in international business?
it happens when the managers a stupid douche?
Decisions that have been made many times in the past and for which managers have rules and guidelines about how to make similar decisions in the future are known as?
Decisions that have been made many times in the past and for which managers have rules and guidelines about how to make similar decisions in the future are known as: "Programmed Decisions"
Obstacles to managers in making effective decisions?
The first obstacle to managers in making effective decisions is bias. Managers are often bias to certain individuals or information that provides more weight in making effective decisions. The second obstacle is overconfidence. Some managers overestimate their abilities, and overlook team members that have strengths to get the job done.
What are types of agency conflicts?
Agency conflicts arise when there's a divergence of interests between principals (owners) and agents (managers). Common types include conflicts of interest, where managers prioritize personal benefits over shareholder value, and risk aversion, where managers avoid risky but potentially profitable projects. Additionally, there can be conflicts related to the consumption of perks, where managers indulge in excessive benefits at the expense of the company's resources. Addressing these conflicts often requires mechanisms like performance-based incentives or oversight.
What is the difference between strategic decision administrative decision and operational decision?
Strategic decisions are made by executive level managers. Operational decisions are made by line managers. Operational decisions can change from day-to-day.
