Welcome to Week 2 - Chapters 2 & 3.

This week we will cover the managerial decision making and the history of management.

Chapter 2: Managerial Decision Making

Decision-making is the action or process of thinking through possible options and selecting one. It can be easy or feel like the hardest thing in the world.
Effective decision-making relies on both logic and emotions providing a basis for the study of emotional intelligence (ability to recognize, understand, pay attention to, and manage one’s own emotions and the emotions of others). Watch the video on slide 10 discussing emotional intelligence and review the questions on slide 11 to get more clarity on this important topic.
Decision can be seen as high involvement (e.g., deciding to buy a house) or low involvement (e.g. buying groceries).
Look over the decision-making process on slide 15 to get a breakdown on how people make decision. Not everyone goes through each step, as it depends on the type of decision it is. For example, programmed or low involvement decision, may involve mental shortcuts to move through the process. Watch the video on slide 16 for strategies and a technique you can practice on slide 17.
There are also barriers to decision making. One is a cognitive bias. Look over slide 21 and see which one you have experienced. Try to solve the 9-dot challenge on slide 22 before looking at the solution in the notes section.
Make sure your decisions are ethical Read over the compoents of ethical decision-making on slide 31, then watch the video on the trolley problem. How do you make a decision when there are no good options?
Lastly, refer to slide 36 and watch the video on the 10 worse business decisions ever made. This is your discussion post for this week, so after watching the video, pick one company (either from the video or elsewhere) and discuss your thoughts on the decision-making process.

Chapter 3: History of Management

Management has been around a long time. Watch the videos on slides 6, 10 & 11 to see the progression from varied perspectives.
Some theories of management to note:
- Fredrick Taylor, known as the father of management developed scientific management,which puts the focus on efficiency and productivity. Jobs are specialized and new employees can be trained quickly. Think about this method in a fast food restaurant. Watch the video on slide 21 for more information.
- Gilreths developed techniques and strategies for eliminating inefficiency, which lead to the science of ergonoics.
- Henry Fayol developed 14 principles behind management that stated that management should speak in one voice. Fayol also identified the five functions of management. Each of these functions describes what managers should do on a day-to-day basis.
- Hawthorne Studies were the first to focus on the actual work life of the workers. Watch the video on slide 33 that describes the process.
Review slide 38 for the different people who influenced management though and how it has evolved.

Remember, your first discussion post is due Friday 11:59PM.

Reach out with any questions!