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  2. Vroom–Yetton decision model - Wikipedia

    en.wikipedia.org/wiki/Vroom–Yetton_decision_model

    Leader accepts any decision and does not try to force his or her idea. Decision accepted by the group is the final one. Vroom and Yetton formulated following seven questions on decision quality, commitment, problem information and decision acceptance, with which leaders can determine level of followers involvement in decision.

  3. Management style - Wikipedia

    en.wikipedia.org/wiki/Management_style

    They work together to make decisions as a group and the staff is highly involved. As a result, employees feel valued and show increased motivation and productivity. However, a drawback to this style is that some employees do not want to be involved in decision making and can come to resent a manager with this style. [1]

  4. Decision-making - Wikipedia

    en.wikipedia.org/wiki/Decision-making

    Logical decision-making is an important part of all science-based professions, where specialists apply their knowledge in a given area to make informed decisions. For example, medical decision-making often involves a diagnosis and the selection of appropriate treatment.

  5. Normative model of decision-making - Wikipedia

    en.wikipedia.org/wiki/Normative_model_of...

    Vroom [1] [3] identified five types of decision-making processes, each varying on degree of participation by the leader. Decide: The leader makes the decision or solves the problem alone and announces his/her decision to the group. The leader may gather information from members of the group.

  6. Knowledge-based decision making - Wikipedia

    en.wikipedia.org/wiki/Knowledge-based_decision...

    Knowledge-Based Decision-Making (KBDM) in management is a decision-making process [2] that uses predetermined criteria to measure and ensure the optimal outcome for a specific topic. KBDM is used to make decisions by establishing a thought process and reasoning behind a decision. [ 3 ]

  7. Likert's management systems - Wikipedia

    en.wikipedia.org/wiki/Likert's_management_systems

    When compared to the first two systems, employees have more freedom to communicate and make company decisions. [4] Lower-level employees have the freedom to make specific decisions that will affect their work. Upper-management still has control over policies and general decisions that affect an organization. Managers talk to their subordinates ...

  8. Decision-making models - Wikipedia

    en.wikipedia.org/wiki/Decision-making_models

    Decision-making as a term is a scientific process when that decision will affect a policy affecting an entity. Decision-making models are used as a method and process to fulfill the following objectives: Every team member is clear about how a decision will be made; The roles and responsibilities for the decision making

  9. Managerial economics - Wikipedia

    en.wikipedia.org/wiki/Managerial_economics

    Managers can make business decisions on the output level based on this analysis in order to maximize the profit of the firm. Marginal Analysis is considered the one of the chief tools in managerial economics which involves comparison between marginal benefits and marginal costs to come up with optimal variable decisions.