About This Chapter
Strategic Decision Making & Problem Solving - Chapter Summary
Your employees can watch the engaging video lessons in this chapter to strengthen their workplace strategic decision-making and problem-solving skills. Managers will learn the following:
- Seven steps for making effective decisions
- How to make informed decisions with certainty and risk
- Top strategies for solving problems in management
- How to use decision trees and other quantitative decision-making tools
- Completing projects using PERT analysis
- How to use SWOT analysis to make quality decisions
You can use the short video lessons in corporate training sessions or have your employees watch them on their computers or mobile devices. Lesson quizzes and a chapter exam are available to help your managers gauge their comprehension of this strategic decision-making and problem-solving chapter. A final exam is also available that allows you to assess their comprehension of the entire course.
How It Helps
- Encourages certainty and risk: The lessons in this course teach your managers how take calculated risks and act with certainty in decision making, both of which are important strategies for business.
- Strengthens management skills: Learning how to problem solve strengthens your employees' ability to manage workers and any business issues that arise.
- Improves productivity: Giving your managerial employees tools to make quick and effective business decisions improves the overall productivity of your company.
By the end of this chapter, managerial employees will be able to:
- Identity the seven steps of decision making
- Explain how to make management decisions with certainty and risk
- Articulate the difference between routine and non-routine problems
- Describe how to use algorithms, heuristics and more to solve problems.
- Identify the three main decision-making tools
- Outline the use PERT analysis and SWOT analysis
1. The Seven Steps of Decision Making
Effective decision-making is an essential skill for every manager. In this lesson, you'll learn about a seven-step process for effective decision-making. You'll also have an opportunity to take a short quiz after the lesson.
2. Practical Application: Seven Steps of Decision Making Infographic
This infographic will help supervisors with the decision making process. Here, you can visually follow the seven steps of decision-making to come to the right choice.
3. Decision Making for Managers: Certainty, Risk & Uncertainty
Making decisions with the most amount of certainty is something managers learn to do over time. In this lesson, we will review how managers work with certainty and risk in order to make informed decisions.
4. Types of Problem Solving Methods in Management and Supervision
A big part of management and supervision is solving problems. In this lesson, we'll take a look at a few problem-solving methods that can be used to solve typical problems facing managers and supervisors. A short quiz follows.
5. Quantitative Decision Making Tools: Decision Trees, Payback Analysis & Simulations
Successful managers use decision-making tools to analyze a problem and try to determine the best solution for that problem. Here, we will discuss three main decision-making tools and help you to understand their function and implementation.
6. PERT Analysis & Project Completion
Time-based decision methods are used a great deal when a manager or company looks at a time-based project. To ensure the project can be done on time, managers use PERT analysis, a tool for estimating the time it will take to complete a project. This lesson will outline PERT and help you to understand how it is used to predict time based projects.
7. What is a SWOT Analysis?
In the business world, as in many other places, decisions aren't made lightly. Rather, management spends a long time considering the pros and cons of every choice. This lesson will teach you about one of the key ways they do that, the SWOT analysis.
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