University Essay: Managerial Decision Making and Innovation

This essay delves into the student's reflections on managerial decision-making, focusing on concepts learned in a Critical Thinking and Managerial Decision-Making course. It explores the application of game theory, the importance of innovation, and the deductive approach to problem-solving. The essay further examines leadership theories, particularly the situational theory, and the normative decision theory. The student discusses the skills they possess, such as decision-making and leadership qualities, while acknowledging areas for improvement, like leading in an autocratic manner. The essay emphasizes the significance of critical thinking, self-awareness, and the DISC assessment tool in enhancing decision-making abilities and fostering effective leadership in future careers. The student also highlights the importance of team collaboration, gathering information, and generating innovative solutions.

Running Head: Managerial Decision Making
Managerial Decision Making
Name of the Student:
Name of the University:
Author’s Note

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The concept and theory, which was significant and important to me, was the week 5
lecture. In the subject Critical thinking and Managerial decision-making the discussion is
comprised of important points about the course, concept of innovation and decision,
interpretation of DISC results and Introduction to Self Reflection. The concept and theory
teaches about the decision making which can be reflected as the course of action which has an
action purpose chosen from the set of alternatives in the organizational or managerial decision
making objectives or goals. The process can be illustrated as the process of continuous and
indispensable constituent of managing the organization or any activity related to the business.
With the reflection of the Game theory that defines the discussion from the week lectures
explains about the process of modeling which is strategic, interactive between more than two
people or players in a particular situation which contains a set of rules, regulation and outcomes
(Wang et al., 2015). The concept of game theory is used in a number of discipline and is notably
a tool of study that is comprised with the concepts of economics. With the common example of
the game theory it explores the possible outcomes of the particular situation in which more than
two competing groups look for the study of action which becomes the best benefits for them. The
variables does not change so each of the actions are the outcome that is derived from the
amalgamation of similar action by each parties. With the lesson learnt from the lecture the
working of the theory is base on the basic level. Game theory explains the study of how people,
organization or nation determines the strategies in different situation in the face of opposing
strategies acted by some other agent and player. The theory gives importance to the rational
decision each time (Fielder et al., 2014).

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The concept, which I had identified, is the related to the concept of conclusion and
innovation from the week 5 lecture. The theory is based on the ideas that is segregated into 5
elements. The five elements are facts, observation, experience, assumption and beliefs. After the
functioning of all the five elements in the theory the conclusion is drawn from it. In the following
theory the conclusion is based on the decision making which is also not sufficient when
innovation comes in the limelight and it focuses on true creative outcome (Anderson, Potočnik &
Zhou, 2014). The concept of innovation and creativity can be explained as providing a new and
modified conclusion by obtaining a positive result such as customized process which is a fresh
product and has a different marketing approach and different ways of handling a customer call.
In this situation it requires more of paradigm changes that is needed to make. The part of
conclusion is dealt with the innovation that is something which in most of the people can identify
with the right effort and mindset (Somech & Drach 2013).
The second concept that is important and significant to me is the concept of Deductive. The
concept of deductive approach explores a theory that is related to the phenomenon and test if in
any case the theory is valid or not and in case the theory is valid or not. It has been noticed that
the theory is deductive in approach by following the path of the logic in a close manner. The
reasoning of the theory begins and leads to a new hypothesis. The theory begins from the
involvement of a theory that is collection from the theory, developing from the hypothesis that is
present in the theory and lastly by the collection and analysis of data testing. The approach of
the deductive research can be employed together by understanding the topic that the researchers
wants to study (Dawson & Andriopoulos, 2014).

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There are some possible advantages that is attached to the theory of deductive that is the
possibility to explain the casual relationship between the variables and the concept. Secondly the
advantage that is clinged to the factor of the research is that the possibility to measure the
concept of the quantitatively. Lastly, the possibility to generate the research in findings that is
stuck to a certain extent. The theory explains the approach that is always stated with the fact of
reasoning and that further leads to a new hypothetical situation. From learning the concept of
deductive theory the hypothesis is the test that confronts with the observation which further leads
to confirmation or rejects the hypothesis (Kell et al., 2013). Therefore it can be said that the
concept explains about the reasoning from the point of general to a particular inductive
reasoning.

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The theory that has emphasized on the decision-making of the personal and workplace
relationship is the Situational Theory. The theory can be explained as a leadership theory where
the manager chooses a style of leadership to match up with the situation. The developer Kenneth
Blanchard and Paul Hersey inculcates the leadership style (Wikström & Treiber, 2016). It refers
to the situation where the leader or the manager of the company adjusts with the style to fit the
developmental level of the employee who he or she tries to influence. The theory facilitates the
medium of decision making by the four main approaches it follows. In the workplace if the
leadership method and technique is correct the system of functioning will be appropriate at the
end. When there is any dispute in the company or within the employee of the organization, the
leader to plays the crucial role in resolving the matter. The four factors are included with the
operational function, which is carried out by the employee, and they are telling, selling,
participating and delegating (Wikström, 2014).
The theory which I have learnt has been important n the part of decision making as the
four approaches discussed above facilitated the process and made it easier much more to delegate
the functioning. The theory on the part of decision making will focus on the Normative Decision
theory because the approach is intended to guide and determine the optimum the amount of time
anfd the group to input which should be committed to a particular decision. The information
which is available yields to make a decision entirely (McKeever et al., 2016). The leader who
was present had consolidated the team members and came up with a solution that made the
functioning easier. With the help of the situational theory the leader along with the members of
the team could function the managerial activities in a systematic manner and decision making
was made easier.

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From the unit activities it is inculcated that the learning is carried out with learning
process of the conclusion and innovation. From this we learn that the hierarchy is allowed to
push the boundaries and create more innovative methods. The next best things which the unit
emphasizes is on the impossible, abdicative, out of the box which leads to the functioning of the
thinking procedure which else cannot be reached. The part of the conclusion has taught us about
the basic kind of solution that is produced for the quality services. With the help of thinking out
of the box it does not restricts the power of thinking and developing the innovative ideas (Jones
& Pimdee, 2017). It is therefore important on the other hand because the willingness to think out
of the restricted boundaries because the solution to the problem is derived from the birth of new
ideas. When in a box the thinker does not like or wants to be associated with the factor of risk
but rather they prefer to play it safe and be on a protected side. Whereas when an employee or a
player or a leader thinks out of the box it requires the other people to rewire their brains in order
to delegate the performance.
The skills that I posses are:
 The power of decision making is made much more stronger because the theory taught to
facilitate the process in a systematic manner.
 The next skill that I possess is the quality of leading the rest of the employees from one
level of approach towards leadership theory to the next level.
The skills that was lacking in me was the quality of leading a team in a autocratic and
directive manner. For some of the employee the success will be more likely towards success that
can make the leader step back and trust the decision that is carried out. The trust needs to be
present which I had failed to have on few of the employee.

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The decision-making skills can be improved in future by gathering more of information
about the task and the managerial activities. The information gathered is giving time to think and
evaluate the situation on a long-term basis. Each of the decision may be improved by the
decision-making skills and can feel more equipped for the problems because the skills has
already been anticipated with. The system of decision making can be improved by not
procrastinating to any of the matters (Abbas & Raja, 2015). It is one of the major problem that
should be avoided when it comes to decision. It is even more important to understand the root
cause of each problem and take suggestions from the team members and the leaders who are
present. The improvement on decision-making skills can be improved on the ground of removing
ego and emotion, it can be made difficult because the fact becomes too personal in regards to the
decision that is looked upon.

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The skills that has been incorporated in the decision making field because it is the key
development process that not helps to inculcate the skills in the working environment and it is
also considered as the most important quality that the leaders should possess. In the course of
future career the decision-making is the critical skill that is effective towards the management
and the leadership. Some of the employee are satisfied but are not suited to the leadership role
because they lack the ability to make decision. It will be helpful in future to inculcate the
approach of learning in decision making because it will improve the functioning of the business
activities. They key areas that it can be helpful are focused on constructing a greater environment
for the employee to perform. Secondly, it is important to understand the decision and situation in
detail. On the other hand it is important to generate good alternatives. The role of a leader can be
portrayed by selecting the best solution that is given as a suggestion by the employees.
The innovative skills are to be given importance because it is analyzed by the employee
after collecting information. Each and every suggestions should be given equal importance as
this allows a good relationship building within the employees (Bocken et al., 2014). The purpose
od decision making can be identified by the process of gathering more of information and fining
out the alternative resolution. If the step by step procedure is followed it is bound to be a better
and successful result for both the organization as well as for the employee. It is learnt from the
overall experience of the learning is that the decision taken is deliberately and thoughtfully
considered as relevant factors that cater to the requirement of the organization. it is also
consistent on one part because the individuals philosophy and value is important to clearly
understand the significance and the importance of each other.
The concept of DISC tools stands for the assessment of the self-assessment that is taken
on the part of the individual reference. This particular tool was coined by William Moulton

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Marston in the year 1940. In this, case the organization facilitates the DISC assessment and it is
easy to administer the fact that the tool is user friendly and is considered as a powerful tool
which is applied on a wide range of application (Lyashkov & Panchuk, 2015). The validity it has
on the on the statistical measure will analyze the demonstration that is exceeding the valid and
being accurate. The four factors that are related is based on the ground of inducement,
dominance, compliance nad steadiness. There are four types of DISC tools that is classified in
four basic personality type trusting, pessimistic, optimistic and envious (Beever, 2019). On the
other hand, the concept on envious is realied on the fact that it is 20% compared with each of the
other group.

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Hence from the above lecture notes it can be concluded that the subject Critical thinking
and Managerial decision-making facilitates the motive of conducting a task in a systematic
manner and assist in taking proper decision making skills.

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Reference
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management, 40(5), 1297-1333.

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Beever, G. (2019). Personality Test: DISC (Get To Know Yourself and Others Better) - Extension
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Appendix
DISC Tool