Improved managerial decision making frame : Case: A Financial Services Organization
Arai, Masood (2015)
Haaga-Helia ammattikorkeakoulu
2015
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201505188685
https://urn.fi/URN:NBN:fi:amk-201505188685
Tiivistelmä
The objective of the study was to identify a) current challenges in making managerial decisions efficiently, b) the main major factors that improvement would facilitate more efficient and effective managerial decision making.
The theoretical framework was based on combining number of managerial decision making literature into unified contaxt. The main authors of the literature used for creation of the frame were Zur Shapira, Norman W. Edmund, Kenneth E. Fracaro, and Chun Wei Choo. Of whom the last mentioned perhaps is the most important contributor in this case study. According to Choo (2003), "knowing organization" was the one that links strategic information processes of sense making, knowledge creating, and decision making into a continuous cycle of learning and adaptation to decide strategy and course of actions.
The study was an exploratory study following an inductive research approach where I first gathered the data, made analysis and conclusions and then identified the relevant theories that best fit the gathered data and objectives of the study. The data collection technique that was used was focus group interviews where 21 face to face interviews were done in two phases.
The primary finding indicated poor empowerment and mandate of local managers and leaders with accountability to take decisions and actions in the local value chain regarding country matters. Hence, managers and leaders had mainly responsibility but no real empowerment to take decisions and this meant escalating lots of country level decisions to Nordic level leaders. Another finding was the balance between needed facts and other data for efficient and timely decision to action. Often requirement for never-ending facts was seen to cause never-ending analysis which consequently meant a long journey before any decision or action was taken. In terms of strengths of the case study organization it was believed to have a strong vision and an honest unit that can be trusted with deliveries and is disciplined in getting things done even in difficult situations.
Overall one can conclude that managerial decision making is result of combination of tangible and intangible factors. Often it is about how managers perceive and interpret these factors in terms of knowledge creation and sense-making as well as how they put decisions into concrete actions that execute the decision made. Based on study findings and implementation of the new managerial decision making frame and guidelines within TP local value chain I believe this study successfully managed to reach set objectives and added concrete value to the case study organization.
The theoretical framework was based on combining number of managerial decision making literature into unified contaxt. The main authors of the literature used for creation of the frame were Zur Shapira, Norman W. Edmund, Kenneth E. Fracaro, and Chun Wei Choo. Of whom the last mentioned perhaps is the most important contributor in this case study. According to Choo (2003), "knowing organization" was the one that links strategic information processes of sense making, knowledge creating, and decision making into a continuous cycle of learning and adaptation to decide strategy and course of actions.
The study was an exploratory study following an inductive research approach where I first gathered the data, made analysis and conclusions and then identified the relevant theories that best fit the gathered data and objectives of the study. The data collection technique that was used was focus group interviews where 21 face to face interviews were done in two phases.
The primary finding indicated poor empowerment and mandate of local managers and leaders with accountability to take decisions and actions in the local value chain regarding country matters. Hence, managers and leaders had mainly responsibility but no real empowerment to take decisions and this meant escalating lots of country level decisions to Nordic level leaders. Another finding was the balance between needed facts and other data for efficient and timely decision to action. Often requirement for never-ending facts was seen to cause never-ending analysis which consequently meant a long journey before any decision or action was taken. In terms of strengths of the case study organization it was believed to have a strong vision and an honest unit that can be trusted with deliveries and is disciplined in getting things done even in difficult situations.
Overall one can conclude that managerial decision making is result of combination of tangible and intangible factors. Often it is about how managers perceive and interpret these factors in terms of knowledge creation and sense-making as well as how they put decisions into concrete actions that execute the decision made. Based on study findings and implementation of the new managerial decision making frame and guidelines within TP local value chain I believe this study successfully managed to reach set objectives and added concrete value to the case study organization.