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Group Decision Making Assignment

The document discusses the importance of group decision making in business, highlighting its advantages and disadvantages, as well as the steps involved in the decision-making process. It emphasizes the need for effective communication and evaluation at all managerial levels to ensure successful outcomes. Additionally, it touches on the role of heuristics in decision making and the significance of strategic decision making for long-term success.

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3 views4 pages

Group Decision Making Assignment

The document discusses the importance of group decision making in business, highlighting its advantages and disadvantages, as well as the steps involved in the decision-making process. It emphasizes the need for effective communication and evaluation at all managerial levels to ensure successful outcomes. Additionally, it touches on the role of heuristics in decision making and the significance of strategic decision making for long-term success.

Uploaded by

solomonramat04
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Group Decision Making

David Obikoya
B00162904

Department of Business
School of Business
TU Dublin - Blanchardstown
Dublin 15.

Word Limit for Assignment: 2500 Actual Word Count: 676

International Business
Leading Modern Enterprises
Week Six
Group decision making is the cornerstone of planning (Pettinger, 2006), there are several
challenges and contributions in the making of a decision in a group. There is a significant
difference between making decisions as an individual and making them with a group of people
(Hirokawa and Poole, 1996). There is a lot that goes into group decision making as you need to
keep everyone’s thoughts in mind and let everyone’s voice be heard. It is vital to ensure the right
decisions are made when deciding in a group so that the business can succeed and continue to
make profits. Decisions are taken at all levels, strategically, operationally, managerially, and
individually (Richard 2006). This essay will focus on the advantages and disadvantages of group
decision making, the heuristic theory, decision making conditions, how to improve group
decision making, the characteristics of decisions making, the various levels taken and the
challenges and contributions of group decision making using relevant examples from the year
2023.

There are six essential steps in the process of forming a decision that managers should follow.
The first step is identifying and dialogising the problem, you must recognise the problem and
find an action that must be taken. Until there is an appropriate action to fix the problem it will be
hard to move on from the issue formed. The second step is identifying alternative solutions,
having identified, and solving the problem formed what you must do next is identify a range of
alternative to solve the problem. The third step is evaluating alternatives, after finding
appropriate alternatives, the manager must examine each alternative to select the right one. It is
important to weight the advantages and disadvantages as well as cost and benefits with each
option. The fourth step is choosing the alternative, after looking at all the various alternatives,
what you must do next is choose the most suitable one. Sometimes most of the suitable
alternatives may not be acceptable but when this happens the manger must go back to step two
and three and start again. The fifth step is implementing a decision, after a decision has been
made it needs to be implemented. This step in the process is important to ensure a good decision
has been made and it the key to a good decision being made. The right alternative means nothing
if it is not implemented the right way. Mangers must insure the people that are implementing
know exactly what they are doing. This stage often fails because the manager does not insure the
people implementing know exactly what they are doing. The last and decisive step is to evaluate
the decision. Once the decision is implemented it needs to be evaluated to provide feedback. The
process of evaluating the decisions should take place at managerial levels. This step allows
managers to make any adjustments necessary, (whole paragraph, Tieran, J Morley 2013).

It is natural to use the heuristics theory is the everyday life especially when making decisions.
Over many years several types of heuristics were used it diverse types of situations. The use of
using this could trigger by situational factors (Campo, Pauser, Steiner and Vetschera, 2016).
Heuristics are rules of thumb that we develop over our past experiences. They are cognitive skills
that help us make quick decisions and that help us make good judgement which are important
when making decisions. Heuristics is not necessarily about making the right decisions it is more
about making decisions quickly.
When problems where the stakes are extremely high, and judgements are involved they call for
rational approaches to approach their solutions. Multiple techniques are used when decision
making at strategic levels Bhushan and Rai, 2003). Strategic decision making is crucial in the
workplace. This form of decision making is known to be consequential for long term success.
Strategic decision making can lead to erroneous strategic decisions. Over the recent years
witnesses have witnessed profusions on aspects of the decision-making process (Schwenk 1995).
Strategic decision making is one of the most active areas of current management research (M.
Papadakis, 1998)
References:
Richard Pettinger, 2006, Introduction to management 4th Edition.
RY Hirokawa, Ms Poole, 1996, Communication and group decision making.
Siobhan Tiernan, Michael J Morley, 2013, Modern Management 4th Edition
Jack S. Levy, 1992, An Introduction to Prospect Theory Vol.13 No. 2
Cristina del Campo, Sandra Pauser, Elisabeth Steiner, and Rudolf Vetschera, 2016, Decision
making styles and the use of heuristics in decision making.
Navneet Bhushan, Kanwal Rai, 2003, Strategic decision making applying the Analytic Hierarchy
Process
Charles R Schwenk, 1995, Journal of Management
Vassilis M. Papadakis, Spyros Lioukas, David Chambers, 1998, Strategic decision making
processes: The role of Management and Context

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