Management Decision Making

The video discusses the importance of decision making in management, highlighting its role in planning, organizing, leading, and controlling. It categorizes decisions into strategic, tactical, and operational levels, and explores the balance between personal and organizational needs. Additionally, it contrasts long-term and short-term decision making, emphasizing the critical nature of decision making in management.

Which type of decision is primarily concerned with the overall mission and objectives of a company?

• Personal decisions

• Tactical decisions

• Operational decisions

• Strategic decisions

What is the main focus of tactical decisions in management?

• Setting long-term goals

• Determining daily operations

• Achieving company objectives through specific activities

• Balancing personal and organizational needs

How do personal decisions differ from organizational decisions in management?

• Personal decisions are short-term, while organizational decisions are long-term.

• Personal decisions are made by managers, while organizational decisions are made by employees.

• Personal decisions are influenced by individual tendencies, while organizational decisions prioritize company needs.

• Personal decisions focus on company objectives, while organizational decisions focus on individual needs.

What challenge do managers face when balancing personal and organizational decision making?

• Choosing between strategic and tactical decisions

• Accommodating individual needs while serving organizational goals

• Implementing operational decisions effectively

• Focusing on short-term gains over long-term value

What is a key consideration in long run versus short run decision making?

• Sacrificing short-term opportunities for long-term value

• Focusing solely on operational efficiency

• Maximizing immediate profits at all costs

• Balancing strategic and tactical decisions