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www.gyaniversity.com214Managerial Processes-IIAdditional Insights by Henry Mintzberg and ColleaguesIdentification Phase: Recognizing a problem or opportunity. Diagnosis varies based on the severity of the problem. Development Phase: Searching for readymade solutions or designing new ones. Often involves trial and error. Selection Phase: Choices made through judgment, logical analysis, or bargaining. Require formal acceptance of the decision. Dynamics of the DecisionMaking Process: Decisionmaking is dynamic with feedback loops. Influencing factors: timing, politics, disagreement, new alternatives.Types of Managerial DecisionsPersonal and Organisational Decisions%uf0a7Personal Decisions: Individual impact cannot be delegated. %uf0a7Organisational Decisions: Aim for organizational goals can be delegated. Basic and Routine Decisions%uf0a7Basic Decisions: Unique, longterm impact, large investments. %uf0a7Routine Decisions: Daily, repetitive, crucial for operations. Programmed and Nonprogrammed Decisions%uf0a7Programmed Decisions: Routine, solved through established processes. %uf0a7Nonprogrammed Decisions: Unique, complex, require bespoke solutions. Additional ClassificationsMechanistic Decisions: Routine in stable conditions. Analytical Decisions: Complex problems with predictable outcomes. Judgemental Decisions: Limited variables, unpredictable outcomes. Adaptive Decisions: Complex, requiring frequent adjustments. Decision Making under Different States of NatureDecisions under Certainty: Precise outcomes known for each alternative. Example: Certain returns on government bonds.Decisions under Risk: Outcomes not certain but probabilities can be assigned. Example: Betting on a number in a dice game. Decisions under Uncertainty: Unknown outcomes, no probabilities can be estimated. Example: Selecting a new advertising program. Models of DecisionMaking ProcessEconologic Model (Economic Man Model)%uf0a7Assumptions: Rational individuals aiming to maximize outcomes.