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Flight Management

Day 03. Flight Management. Managers as Decision Makers. Managers have to make decisions. Meaning they have to make choices. Making a decision is not a single task. But it is a process. Decision Making Process. 1 Identification of Problem. What is the problem? Sales drop Complaints

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Flight Management

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  1. Day 03 Flight Management

  2. Managers as Decision Makers Managers have to make decisions. Meaning they have to make choices. Making a decision is not a single task. But it is a process.

  3. Decision Making Process 1 Identification of Problem

  4. What is the problem? • Sales drop • Complaints • Poor quality of product

  5. Decision Making Process 2 Identification of Decision Criteria

  6. Identify the decision criteria

  7. Decision Making Process 3 Allocation of Weights to Criteria

  8. Each decision criteria is not equally important. • So the important ones got higher weight and the less important ones got lower weight.

  9. Decision Making Process 4 Development of Alternatives

  10. Find alternatives of the solution of the problems.

  11. Decision Making Process 5 Analysis of Alternatives

  12. Find the points of each decision criteria of each alternative. • To get a clearer picture, multiply the points with its weight and get the total.

  13. Decision Making Process 6 Selection of an alternative

  14. Selecting the one that gives the highest score.

  15. Decision Making Process 7 Implementation of the Alternative

  16. Implement the alternative.

  17. Decision Making Process 8 Evaluation of Decision Effectiveness

  18. The outcome of the implementation has to be monitored for use in the future.

  19. Managers Making Decisions • Rationality – logical and consistent choice to attain the highest value. • Bounded Rationality – rational but limited only to their limited experience and understanding of the problem. • Intuition

  20. Types of Decisions • Structured Problems And Programmed Decisions • Unstructured Problems and Nonprogrammed Decisions

  21. Conditions of Decision Making • Certainty • Risk • Uncertainty

  22. Styles in Decision Making • Linear / Nonlinear Style • Biases and Errors • Over confidence • Immediate Gratification • Anchoring Effect • Selective Perception • Confirmation • Framing • Availability • Representation • Randomness • Sunk cost • Self-serving • Hindsight

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