Question: 4-1 4-2 4-3 4-4 Why is decision making often described as the essence of a manager's job? Describe the eight steps in the decision-making process.

4-1 4-2 4-3 4-4 Why is decision making often described as the essence of a manager's job? Describe the eight steps in the decision-making process. All of us bring biases to the decisions we make. What would be the drawbacks of having biases? Could there be any advantages to having biases? Explain. What are the implications for managerial decision making? "Because managers have so many powerful decision-making tools to use, they should be able to make more rational decisions." Do you agree or disagree with this statement? Why? Is there a difference between wrong decisions and bad decisions? Why do good managers sometimes make wrong decisions? Bad decisions? How might managers improve their decision-making skills? Describe a decision you've made that closely aligns with the assumptions of perfect rationality. Compare this decision with 4-5 4-6

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