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What is the difference between an open decision making system and a closed decision making system?
A. Closed decision making system:If the manager operates in a known environment then it is a closed decision making system. The conditions of the closed decision making system are:(a) The manager has a known set of decision alternatives and knows their outcomes fully in terms of value, if implemented.(b) The manager has a model, a method or a rule whereby the decision alternatives can be generated, tested, and ranked.(c) The manager can choose one of them, based on some goal or objective.A few examples are:a product mix problem,an examination system to declare pass or fail, oran acceptance of the fixed deposits.B. Open decision making system:If the manager operates in an environment not known to him, then the decision making system is termed as an open decision making system. The conditions of this system are:(a) The manager does not know all the decision alternatives.(b) The outcome of the decision is also not known fully. The knowledge of the outcome may be a probabilistic one.(c) No method, rule or model is available to study and finalize one decision among the set of decision alternatives.(d) It is difficult to decide an objective or a goal and, therefore, the manager resorts to that decision, where his aspirations or desires are met best.Deciding on the possible product diversification lines, the pricing of a new product, and the plant location, are some decision making situations which fall in the category of the open decision making systems. by prerna
What is Supportive Style of Management?
In supportive management, the manager is not so interested in giving orders and managing every detail as in giving employees the tools they need to work themselves. While delegation is a vital part of supportive leadership, managers do not simply assign tasks and then receive the results. Instead, they work through the tasks with employees to improve skills and talent until the manager does not need to worry about a task being done correctly and the employee is fully empowered in a particular area.
In business terms what does fully managed mean?
"Fully managed" means the company offering the services will take care of the technical aspect of the service. This will leave the customer to enjoy the service with little to no setup frustration.
What is fasclass?
FASCLASS is defined as Fully Automated System for Classification (US Army)
What is the management research question hierarchy for a management dilemma you face at work?
Management research question hierarchy is a step process of solving a dilemma from management dilemma to management decision.They have include six steps.Step 1 : Management DilemmaWhat's the problem from the management include the current issue they are facing ?Step 2 : Management QuestionsHow can management fully capitalize on a opportunity ?Step 3 : Research Questionswhat the reasonable actions are available for take the advantage on the opportunity ?Step 4 : Investigation QuestionsWhat's important for manager to know about to choose the best alternative from the available course of actions.?Step 5 : Measurement QuestionWhat should be asked or observed to obtain the information the manager needs?Step 6 : Management DecisionWhat is the recommended course of action from the given research finding?
What are the advantages and disadvantages of incremental budgeting?
Some of the advantages of incremental budgeting are that this type of budgeting is easy and quick. Some disadvantages of incremental budgeting are that different methods for achieving the objective may not be considered and if the budget is not fully spent it can be reduced during the next period.
This amendment allowed the newly freed slaves to?
The 13th Amendment to the United States Constitution, ratified in 1865, abolished slavery and involuntary servitude, granting freedom to the newly freed slaves.
What happened to make the US fully participate in the war?
The Japanese bombing of Pearl Harbor
The 15th amenments This amendment allowed the newly freed slaves to?
participate more fully as citizens.
Reduced creole power and allowed mestizos and Indians to participate fully in government?
Democratic citizens
Who is allowed to participate in Buddhism?
Any person from any walks of life can participate in Buddhism. However, in order to fully experience the beifits of Buddhism one should approach Buddhism with an open mind and heart.
What is the role of women in electoral politics in Canada?
Women are fully allowed to participate in elections and have all the same rights as men.
What is the second formula of the Toyota Production System?
Second, everyone down to the most menial Toyota worker had to fully participate.
What did the 15 amendment do to the newly freed slaves?
Gives citizenship rights to former slaves.
What is role of manager in financial company?
firstly the main role of manager to fully know about the today's finance and they have a lot of knowledge about the financial things........and also know about the in which way they can handle finance.......
Why has Great Britain not fully participated in the EU?
The European Union allows for some flexibility in how countries participate. So some countries do not participate in certain aspects. Britain does not use the Euro, but 9 other European Union countries don't use it either. There are other countries that don't participate in some aspects of the European Union, so it is no different than any other European Union countries. So you could say that no country fully participates in the European Union.
Can a divorced woman be Catholic?
If she is divorced but not remarried, she can be a Catholic. If she has remarried she will need to seek an annulment of the first marriage before she can fully participate in the Catholic Church. .
