This week our performance has gone better than the practice rollovers, and our team communication has improved at a certain level. However, the problem of poor budgeting and planning is serious. I perceived that our decision-making process had been made less rigorously if we want to achieve a relatively more satisfying outcome for the upcoming rollover.
According to the research, managers’ works in the reality is actually less concentrated on the general perceptions of “carefully plan and orchestrate events”, because managers at most of the time are engaged in a variety of activities and issues every day, most of them are inconsistent and interspersed. They also tend to ignore the problem, which is less immediately pressed until they perceive the pressure for action, or the primary responsibility is owned by other managers. (Yukl, 2013, p24) During our practice on managing Mikesbike, there might be an obstacle about the perceptions of dealing with immediate problems rather than precise long-term planning. However, we should also pay careful attention to the adaptiveness of the short-term plan; they are more specific and immediate actions, which give the accumulative effects to achieve broad strategies. The simulation involves a series of forecasting, although most of the forecasting about market index and sales are often combined with uncertainty, we can still mitigate the risks to a certain level for such planning, by analysing existing data and constantly make adjustment to fluctuations. (Hammond, Keeney & Raiffa, 1998)
One of the most important responsibilities for managers is decision making. There is various literature on developing management decision making theories. According to Buchanan and Connell (2006)’s study about the history of decision making, risk is inherent along with every decision and chaos are often arrives on precise decisions (p34), but for another, “Consensus is good, unless it is achieved too easily,” which means, dynamic thoughts for decision making within the group usually contribute to an exceeding decision(p37). Due to different perspectives, assumptions, values and personalities, there might be a problem to reach the agreement for good decisions, but most of the time more information perceived by manager often helps to mitigate the conflicts between different opinions. (Yukl, 2013, p28)
Buchanan, L., & O’Connell, A. (2006). A Brief History of Decision Making. Harvard Business Review, 84(1), 32–41. Retrieved from http://search.ebscohost.com.ezproxy.auckland.ac.nz/login.aspx?direct=true&db=buh&AN=19256537&site=ehost-live&scope=site
Hammond, J. S., Keeney, R. L., & Raiffa, H. (1998). The hidden traps in decision making. Harvard Business Review, 76(5), 47. Retrieved from http://link.galegroup.com.ezproxy.auckland.ac.nz/apps/doc/A21114518/AONE?u=learn&sid=AONE&xid=a9c18574
Yukl, Gary A. (2013). Nature of managerial work. In G. A. Yukl (Ed.), Leadership in organizations (8th ed, pp. 23-47). Pearson.