Running Head: MANAGEMENT AND DECISION MAKING PROCESS

Exploring Management and De i!ion Ma"ing Pro e!! #Name o$ %riter& #Name o$ In!titution&

Management and De i!ion Ma"ing Pro e!!

Table of Contents

Ta'le o$ Content!((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((i CHAPTER ): INTROD*CTION(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((() +a "ground o$ t,e Re!ear ,(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((() CHAPTER -: .ITERAT*RE RE/IE%(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((0 Introdu tion((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((0 Nomen lature o$ a De i!ion(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((0 Certaint12 Ri!" and *n ertaint1(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((3 Indi4idual and Colle ti4e De i!ion!((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((5 T,e Point o$ /ie6 o$ Cogniti4e S ien e((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((()7 De i!ion Ma"ing in Organi8ation!(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((()7 CHAPTER 9: METHODO.OG:((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((()0 Introdu tion(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((()0 Re!ear , Met,odolog1(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((()0 Data Colle tion ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((()0 Sampling(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((()3 Data Anal1!i! Te ,ni;ue((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((()5 Re!ear , .imitation!((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((()5

Management and De i!ion Ma"ing Pro e!! CHAPTER 1: INTRODUCTION T,i! ,apter intend! to la1 t,e $oundation! in order to $rame t,e rationale and t,e nomen lature 'e,ind t,e re!ear ,( T,i! ,apter in t,e ontext o$ an1 re!ear , tend! to ,old !igni$i an e a! it i! regarded a! t,e $a e o$ t,e re!ear ,( In t,e ontext o$ t,e re!ear ,2 t,i! ,apter 6ill $rame t,e notion relating to A<il =inan ial Ser4i e! Compan1 and it! de i!ion> ma"ing pro e!!( T,i! ,apter 6ould !tand on t,e 'ri "! o$ 'a "ground re!ear ,2 re!ear ,

;ue!tion!2 and et,i al appre,en!ion! and 6ill al!o render t,e $lo6 o$ t,e !tud1( T,u!2 it 6ould 'e !a$e to !tate t,at t,i! ,apter !et! t,e pat, $or t,e entire re!ear ,(

Background of the Research A! t,e 6orld i! ad4an ing at a rapid !peed to a ;uire t,e !tatu! o$ trul1 $un tional glo'al 4illage( T,e de i!ion ma"ing pro e!!e! '1 t,e organi8ation! ,a4e a ;uired great importan e2 a! a !ingle de i!ion an ,a4e an impa t on t,e 6,ole ,ierar ,1( Su e!!$ul ompanie! ma"e de i!ion! in ,ig,>!peed en4ironment! to !ee i$ t,e1 tend to a'andon rational approa ,e! or 6,et,er t,e1 ,a4e !u$$i ient time to in remental implementation( E$$e ti4e de i!ion ma"er! gat,er in$ormation in real time to de4elop a deep and intuiti4e "no6ledge o$ t,e 'u!ine!!2 6,ile t,e ompanie! 6,o $ail to do !o are guided on t,e pat, o$ loo!ing it! name and image in toda1?! $ier e ompetition( Su e!!$ul 'u!ine!!e! 'egin immediatel1 to on!ider di$$erent alternati4e!2 6,ile t,e ot,er !et o$ ompanie! a! identi$ied a'o4e tend to !lo6 t,e de i!ion to de4elop e4en a !ingle alternati4e @Plou!2 S( )5592 0A>03B( =a!t and !u e!!$ul de i!ion>ma"er! !ee" ad4i e $rom all and rel1 on ad4i!er! and olleague! e!!a1!2 6,ile t,e ot,er !et o$ ompanie! $ail! to 'uild tru!t and agreement ne e!!ar1( To in rea!e t,e ,an e! o$ !u e!! at ,ig, !peed2 !ome organi8ation! !timulate on!tru ti4e

Management and De i!ion Ma"ing Pro e!!

on$li t t,roug, a te ,ni;ue alled point C ounterpoint( In 6,i , in de i!ion>ma"er! are di4ided into t6o group! and in!tru ted to di$$erent re!pon!i'ilitie! and !ometime! e4en to on$li ting 4ie6point!( T,e group! loo" to ex ,ange propo!al!2 di! u!!ing t,e 4ariou! option! until a !olution or a !et o$ idea! along 6it, re ommendation! are ra$ted( T,e riti al de i!ion! t,at an organi8ation ta"e!D t,ere lie! a great ,an e t,at it 6ill ma"e mi!ta"e!( Organi8ation! t,at tend to learn in ul ate! a learning pat,6a1 t,at i! de4eloped '1 trial and error!( %,en un ertaint1 i! ,ig,2 'ot, t,e identi$i ation o$ t,e pro'lem and in t,e !ear , o$ t,e !olution( It 'e ome! impo!!i'le to predi t t,e out ome o$ t,e de i!ion and mi!ta"e! t,at are ine4ita'le in reati4e a ti4itie! and inno4ation( It an o$ten ,appen t,at an error an 'e a !our e o$ !u e!!( T,e error! $rom a ,ig, pro4ide ne6 in$ormation to impro4e t,e !olution t,at 1ou are planning2 on t,e ot,er ,and !trengt,en t,e de i!ion>ma"er! 'e au!e t,e1 are part o$ t,e learning pro e!! t,at allo6! t,em to de i!ion>ma"ing de i!ion! ma"e 'etter in t,e $uture( T,e e$$e ti4e de i!ion>ma"er! are t,e one! t,at re ogni8e 6,en it i! time to !top a our!e o$ a tion 6,i , ,a! $ailed to $ormulate t,e re!ult! a! per t,e re;uirement( Man1 organi8ation! and 4ariou! indi4idual de i!ion ma"er!2 o$ten ma"e t,e mi!ta"e o$ ontinuing t,e a tion! t,at 6ill lead to negati4e on!e;uen e!2 e4en 6,en t,e1 'e ome predi ta'le( One rea!on !uita'le to explain t,e per!i!ten e in t,e error! i! t,e $ear o$ puni!,mentD t,e per!on! re!pon!i'le to ta"e a de i!ion 6,i , pro4ed 6rong an manipulate in$ormation in order to on eal t,e real per$orman e o$ t,e pro e!! a$$e ted '1 t,e de i!ion( In ot,er a!e!2 it i! t,e ina'ilit1 to re ogni8e t,eir o6n error! t,at lead! to t,e repetition o$ a tion! ,arm$ul to t,e organi8ation( T,i! !ituation an 'e al!o au!ed '1 !tre!! 6,i , !ometime! an tou , ne6 le4el( Co,eren e and t,e maintenan e o$ a !ta'le line o$ a tion are 4ie6ed po!iti4el1 and rein$or ed '1 organi8ational ulture @.ut,an! -77E2 p( 03>3)B(

Management and De i!ion Ma"ing Pro e!! T,e Carnegie model and t,e in remental model o$ de i!ion ma"ing an 'e u!ed in order to !ol4e t,e pro'lem! e!pe iall1 t,o!e 6,i , are parti ularl1 omplex in nature( T,e $a t !,ould 'e lear t,at t,e term omplex i! a!!o iated to t,e pro'lem! 6,ere identi$i ation and it! !olution are di$$i ult( %,en t,e identi$i ation o$ t,e pro'lem i! omplex2 t,e Carnegie model i! o$ten appropriate !in e it on!ider! t,e pro'lem! o$ on!en!u! 'uilding and poli 1 a tion! $or t,e reation o$ group!( On e an indi4idual or a manager i! a'le to identi$1 t,e $a tor 6,i , tend! to

gi4e 'irt, to t,e pro'lem and t,e de!ire to re!ol4e it2 onl1 t,an an organi8ation an mo4e to6ard! in ul ating a $rame6or" 6,i , i! e$$i ient enoug, to !ol4e t,e pro'lem! and t,at too in le!! time( T,e in remental model2 unli"e t,e model Carnegie2 enter! into t,e !tru ture o$ t,e pro e!! o$ $ormulation and !ele tion o$ de i!ion alternati4e! ,ig,lig,ting de i!ion point!2 t,e point! o$ arre!t and loop! t,e pro e!!(

Aim and Objectives T,e aim o$ t,i! re!ear , !tud1 i! to de ip,er t,e manner and al!o to gauge t,e de i!ion ma"ing pro e!! o$ management o$ A<il =inan ial Ser4i e! Compan1( Sin e t,e en4ironment o$ toda1 i! rendered ompetiti4e 6,i , tend! to in$u!e ne6 notion! '1 ea , pa!!ing da1( T,ere$ore2 t,e de i!ion! ta"en '1 t,e management an eit,er ,a4e a detrimental e$$e t or an en,an e t,e po!iti4e 'e,a4iour o$ t,e emplo1ee( De i!ion ma"ing i! not done rat,er it $ollo6! a 6,ole ir le along 6it, ot,er intrin!i and extrin!i $a tor!( T,ere$ore2 t,i! re!ear , aim! to de ip,er t,e 6,ole nomen lature o$ t,e de i!ion ma"ing pro e!! in A<il =inan ial Ser4i e! Compan1(

Management and De i!ion Ma"ing Pro e!! Research Question Re!ear ,er! in order to align t,e re!ear , in order to meet it! o'<e ti4e tend to $rame t,e

;ue!tion! 6,i , are rendered a! re!ear , ;ue!tion!( T,e utili8ation o$ re!ear , ;ue!tion! tend! to 'e multi>dimen!ional( A! t,e!e not onl1 identi$1 t,e pat, 'a!ed on 6,i , t,e !tud1 6ill $lo6 in order to a ,ie4e it! o'<e ti4e!( +ut it al!o ,elp! t,e reader to "eep in !ig,t t,e o'<e ti4e! and to $a ilitate t,e reader o$ t,e pat, t,e re!ear , i! a'out to ta"e( T,e !igni$i an e o$ t,e re!ear , ;ue!tion! annot 'e undermined( A! t,e!e ;ue!tion! tend! to $rame t,e $a t t,at 6,et,er t,e re!ear , 6ill meet it! o'<e ti4e or not( T,ere$ore2 it i! important t,at t,e re!ear , ;ue!tion! !,ould 'e $ramed !o t,at it an mould t,e !tud1 to meet it! o'<e ti4e!( T,e re!ear , ;ue!tion! $or t,i! !tud1 are a! under: )( %,at $a tor! eit,er intrin!i or extrin!i $a tor pla1! a 4ital role in rendering a de i!ionG -( Ho6 an t,e management o$ A<il =inan ial Ser4i e! Compan1 a!!ure tran!paren 1 in t,eir de i!ion ma"ingG 9( %,at are t,e di! repan ie! 6,i , e4en toda1 exi!t in t,e de i!ion ma"ing pro e!! o$ A<il =inan ial Ser4i e! Compan1 and ,o6 an management $ix t,emG F( Ho6 an management minimi8e t,e time ta"en to render a de i!ionG

Ethical Concerns Et,i al appre,en!ion! are o$ "e1 importan e in an1 re!ear ,2 a! it greatl1 a$$e t! t,e relia'ilit1 o$ t,e re!ear ,( T,u!2 re!ear ,er 6a! attenti4e to t,e et,i al onnotation! atta ,ed2 t,ere$ore t,e !tep! 6ere ta"en in order to en!ure t,at t,e !u'<e t! or t,e material in$u!ed to ,elp t,e au!e o$ t,e re!ear , are not denied o$ et,i al ground!( To e$$e ti4el1 en!ure t,at all t,e area!

Management and De i!ion Ma"ing Pro e!!

6ere o4ered2 t,e re!ear ,er tend! to ta"e t,e 6,ole re!pon!i'ilit1 o$ t,e et,i al notion!( In order to maintain t,e et,i al !tandard!2 t,e ontent or t,e o'<e ti4e! o$ t,e re!ear , 6ere not ompromi!ed at an1 !tage and a 'alan e 6a! reated in order to en!ure !ta'ilit1 and tran!paren 1 a! $ar a! t,e ontent o$ t,e re!ear , i! on erned( =urt,ermore2 an1 re!ear , annot ulti4ate t,e de!ired re!ult! until and unle!! it i! o$ 'ene$it to t,e !o iet1( T,ere$ore2 in order to identi$1 t,e on ern! and t,e t,reat! pertaining to !o iet1 t,e topi 6a! ,o!e( =urt,ermore2 e4er1 e$$ort 6a! made to en!ure a tran!paren 1 and t,e num'er! o$ 6a1! 6ere in ul ated into t,e $old o$ t,e !tud12 to minimi8e t,e element o$ 'ia!ne!!( =urt,ermore2 t,i! re!ear , !tud1 $ollo6ed t,e rule! and pro edure! and at no !tage et,i al notion! !a6 a ompromi!e( +e$ore mo4ing $or6ard2 it !,ould 'e lear t,at all t,e indi4idual! 6,o 6ere in$u!ed in t,e ontext o$ t,i! re!ear , 6ere a6are o$ t,e pro edure! in4ol4ed( +1 t,e 4irtue o$ t,i! re!ear ,er pa4ed t,e 6a1 $or e$$e ti4e ooperation $rom t,e parti ipant! in4ol4ed( T,i! !tep 6a! al!o ne e!!ar1 in order to en!ure t,at parti ipant! 6ere not reporting t,e $a t! out o$ an1 pre!!ure nor 6ere t,e1 under t,e in$luen e o$ a group or ! ,ool o$ t,oug,t 6,en rendering t,eir $inding!( In order to a ;uire t,e ne e!!ar1 in$ormation and to maintain t,e et,i al !tandard!2 not mu , in$ringement 6a! done( T,e pri4a 1 and 6ell 'eing o$ t,e re!pondent or t,e !u'<e t in4ol4ed in t,e !tud1 6a! o$ utmo!t !igni$i an e( Moreo4er2 on!ent 6a! al!o a ;uired $rom all t,e parti ipant! and t,o!e 6,o ontri'uted in order to pro4ide in$ormation to 'e in ul ated in literature re4ie6(

Structure of Dissertation Chapter 1: T,i! i! an introdu tor1 ,apter o$ t,e di!!ertation in 6,i , an o4er4ie6 o$ t,e 6,ole re!ear , 6or" 6ill 'e pro4ided( T,e pro'lem !tatement 6ill 'e pre!ented in t,e !ame

Management and De i!ion Ma"ing Pro e!! ,apter( In addition t,e re!ear , aim! and o'<e ti4e! ad re!ear , ;ue!tion! are al!o identi$ied in t,e dame ,apter(

Chapter 2: T,i! ,apter 6ill 'e pre!enting t,e re4ie6 o$ a4aila'le literature in relation to t,e topi and 6ill al!o ena'le re!ear ,er to anal18e and argument on t,e 'a!i! o$ pre4iou! !ear ,e!( =urt,ermore2 t,e literature in luded in t,e !tud1 6ill 'e gat,ered t,roug, !e4eral li'rarie! and data 'a!e!( Chapter 3: T,e ,apter t,ree o$ t,e urrent re!ear , 6or" 6ill 'e pre!enting t,e re!ear , met,odolog1 t,at 6ill 'e adopted '1 t,e re!ear ,er in arr1ing out t,i! re!ear , 6or"( T,e main emp,a!i! 6ill 'e on t,e re!ear , !trateg1 and re!ear , approa , and t,e data olle tion met,od! in t,i! ,apter( Chapter 4: T,e $ourt, ,apter o$ t,e !tud1 6ill 'e deli4ering t,e anal1!i! o$ t,e data olle ted( T,e anal1!i! 6ill 'e done on t,e 'a!i! o$ data gat,ered $rom di$$erent !our e!( Chapter 5: T,e $inal ,apter o$ t,i! re!ear , 6or" 6ill 'e pre!enting t,e on lu!ion and re ommendation!(

Management and De i!ion Ma"ing Pro e!!

CHAPTER 2: LITERATURE REVIEW

Introduction T,i! ,apter o$ t,e !tud1 intend! to in ul ate t,eorie! and tool! aimed to ulti4ate an e$$e ti4e and e$$i ient under!tanding o$ t,e de i!ion ma"ing pro e!! and t,e 6,ole nomen lature o$ Management( Moreo4er2 t,e 'od1 o$ t,e re!ear , 6ill in orporate t,e notion! atta ,ed to meet t,e pretext o$ t,e paper( T,i! ,apter 6ill al!o ,elp t,e reader to de4elop t,e de$initi4e "no6ledge o$ t,e $rame6or" 'e,ind t,e identi$ied notion(

omenclature of a Decision T,e de i!ion to ta"e a tion2 in luding alternati4e! rendered a! option!2 '1 an indi4idual or a group @de i!ion>ma"erB( In t,e pro e!! leading to t,e de i!ion2 t,ere are t6o !tage! 6,i , ,old! t,e "e1 to render t,e $ate o$ t,e de i!ion( One i! identi$ied a! deli'eration and t,e !e ond one i! identi$ied a! ,oi e( Deli'eration mode allo6! t,e aut,orit1 6,o ,a! t,e po6er to ta"e de i!ion! to anal1!e di$$erent option! and to render t,e ad4antage! and di!ad4antage! o$ e4er1 option 'e$ore ta"ing a de i!ion( T,e !e ond a!pe t indi ate! t,e de i!ion or t,e oi e 6,i , 6a! made among all t,e option! a4aila'le( T,ere$ore2 de i!ion ma"ing al6a1! tend! to in$u!e num'er o$ ,oi e! in $ront o$ t,e de i!ion ma"er in order to $a ilitate t,e pro e!! o$ t,e 6,ole pro e!! @+u!ine!! S enario -7752 pp( )>FB( T,e de i!ion i! an e!!ential element o$ $reedom2 t,e $reedom 6,i , allo6! in indi4idual to render t,e a tion i! t,e one t,at i! ,o!en( Moreo4er2 t,e de i!ion ma"ing pro e!! i! t,e !u'<e t o$ !tud1 o$ a multitude o$ di! ipline! 6,i , in4ol4e! p,ilo!op,1 2 logi 2 mat,emati !2

Management and De i!ion Ma"ing Pro e!! politi al ! ien e and 4ariou! ot,er( Sin e de i!ion ma"ing i! a omplex p,enomenon t,ere$ore2 t,e 'e$ore ma"ing a de i!ion one !,ould on!ider di$$erent alternati4e! in order to $rame a de i!ion( T,e approa , to t,e !tud1 o$ de i!ion! one an ma"e 6it, a ertain approximation i! di4ided into notion! namel1 de! ripti4e and normati4e( De i!ion ma"er! 6,o adopt t,e de! ripti4e approa , tr1 to $ind out ,o6 e$$e ti4el1 t,e de i!ion! are made in di$$erent ontext!( %,erea!2 t,o!e 6,o adopt a normati4e approa , !ee"! to identi$1 t,e 6a1 in 6,i , de i!ion! !,ould 'e made '1 re$eren e to t,e ideal de i!ion! ra$ted to meet t,e need! a !ituation t,ro6n in(

Certaint!" Risk and #ncertaint! To 'e a'le to ta"e a de i!ion 'a!ed on rational t,in"ing2 t,e de i!ion>ma"er need! to "no6 t,e option! a4aila'le and t,e on!e;uen e! t,at an re!ult $rom ea , o$ t,e de i!ion! ta"en( O$ten2 ,o6e4er2 t,e de i!ion ma"er doe! not ,a4e omplete in$ormation2 in t,e !en!e ,e or !,e tend! to ignore ertain option! or i! not a'le to $ore!ee all t,e on!e;uen e! a!!o iated 6it, rendered de i!ion!( On t,e ot,er ,and2 t,e on!e;uen e! o$ t,e de i!ion! depend not onl1 on t,e ,o!en our!e o$ a tion2 'ut al!o '1 t,e ondition! o$ t,e ontext in 6,i , t,e de i!ion>ma"ing pro e!! ta"e! pla e( T,e!e ondition! in 6,i , a de i!ion i! ta"en i! alled !tate o$ nature @Har4ard +u!ine!! S ,ool Pre!! -77)2 p( 57>))9B( A de i!ion2 t,ere$ore2 i! ,ara teri8ed '1 t,e a tion ,o!en '1 t,e !tate o$ nature and t,e on!e;uen e! o$ t,e a tion al!o alled t,e re!ult( T,u! it 6ould 'e !a$e to !tate t,at de i!ion! are di!tingui!,ed '1 t,e degree o$ "no6ledge o$ t,e !tate o$ nature '1 t,e de i!ion ma"er( T,u! e4er1 de i!ion! ,a! di$$erent onnotation! atta ,ed to it2 t,ere$ore !tate o$ nature !,ould not 'e ignored 6,en anal18ing t,e ta"en de i!ion!( =or example a de i!ion 6,i , i! ta"en in a !ituation

Management and De i!ion Ma"ing Pro e!! o$ ertaint1 mean! t,at t,e de i!ion ma"er "no6! t,e !tate o$ nature( Similarl1 t,e de i!ion! ta"en in !ituation! o$ ri!" an 'e la'elled under t,e ir um!tan e! in 6,i , t,e de i!ion ma"er o$ten doe! not "no6 t,e !tate o$ nature or a mea!ure o$ t,e pro'a'ilit1 a!!o iated 6it, ea , po!!i'le !tate o$ nature( T,e de i!ion! in !ituation! o$ un ertaint1 al!o $rame t,e $a t t,at t,e de i!ion ma"er "no6! neit,er t,e !tate nor t,e nature o$ pro'a'ilitie! a!!o iated 6it, t,e po!!i'le !tate! o$ nature(

Individual and Collective Decisions +a!ed on t,e num'er o$ a tor! in4ol4ed de i!ion! are di!tingui!,ed a! indi4idual de i!ion! and olle ti4e de i!ion!( Indi4idual de i!ion! are la'elled a! t,o!e ta"en '1 a !ingle indi4idual $or ,im!el$( %,erea!2 olle ti4e de i!ion! are regarded a! t,o!e ta"en '1 an indi4idual $or a group2 '1 t,e group or '1 anot,er group( Colle ti4e de i!ion! po!e parti ular pro'lem!2 'e au!e o$ t,e a epta'ilit1 le4el2 po6er in$luen e and nature o$ ,oi e( A olle ti4e de i!ion mu!t 'e a epted '1 t,e mem'er! o$ a group alled to arr1 out t,e mea!ure! de ided upon( T,e in$luen e o$ po6er ome! into pla1 in t,i! regard( T,u!2 t,e olle ti4e de i!ion! !,ould 'e ta"en '1 t,o!e 6,o de ide to ,a4e t,e po6er @in parti ular2 a !o ial po6erB to ma"e de i!ion! $or all @Hin!8 H Ni "ell -77F2 p( -7>-)B( %,en a de i!ion i! made '1 a more t,an one indi4idual!2 need rule! $or tran!$orming t,e ,oi e! o$ ea , o$ t,em in t,e olle ti4e ,oi e @$or example2 t,e rule o$ t,e ma<orit1B( Anot,er dimen!ion in t,i! regard i! rendered a! a !pe ial a!e identi$ied a! !trategi de i!ion! or interdependent de i!ion!( In t,e!e de i!ion! t,e !tate o$ nature i! determined2 in 6,ole or in part2 '1 t,e de i!ion! o$ ot,er!( T,u!2 t,e re!ult o$ a de i!ion depend! not onl1 on it!el$ 'ut al!o on t,e de i!ion! o$ ot,er!(

Management and De i!ion Ma"ing Pro e!! $he %oint of &ie' of Cognitive Science

)7

T,e re!ear , o$ +en<amin .i'et2 a pro$e!!or o$ p,1!iolog1 at t,e *ni4er!it1 o$ Cali$ornia at Da4i!2 !,o6 t,at t,e neural a ti4it1 t,at initiate! an a tion a tuall1 o ur! a! a t,ird o$ a !e ond 'e$ore !timuli 'e$ore t,e 'rain !et! it!el$ to ta"e a tion( T,i!2 a ording to .i'et2 implie! t,at t,e de i!ion i! in $a t an illu!ion t,at on! iou!ne!! tend! to remain out o$ t,e loop( Iuite po!!i'l1 one o$ t,e mo!t intere!ting point! o$ 4ie6 in t,i! regard i! t,at o$ t,e ogniti4e ! ienti!t and p,ilo!op,er Daniel Dennett 2 6,o dire ted t,e la!!i approa , 6it, t,e idea t,at t,e a tion initiall1 !tart! !ome6,ere in t,e 'rain2 and immediatel1 !tart !ending !ignal! to t,e mu! le!( T,e!e tend to !top $or a moment on t,eir 6a1 to tell an indi4idual t,e nature o$ on! iou! agent2 $ollo6ed '1 t,e on!e;uen e( @Hitt H Ireland -77-2 9>)FB( %it, regard to more omplex de i!ion!2 a re ent !tud1 ondu ted '1 Jo,n Paer!on re4eal! t,at t,e po!terior ingulate ortex2 lin"ed to $a tor! !u , a! attention2 memor1 and ogniti4e t,in"ing2 pla1! a 4ital role 6,en 6e ta"e a di$$i ult de i!ion( In t,i! experiment2 t,e mon"e1! 6ere a u!tomed to drin" -77 ml o$ $ruit <ui e t,u! 1ielding t,e idea t,at $ound $a ed 6it, t,e de i!ion Kem'lemati K to ,oo!e 'et6een t,e u!ual <ui e and anot,er un"no6n(

Decision (aking in Organi)ations T,e organi8ational de i!ion ma"ing di$$er! $rom indi4idual de i!ion ma"ing 'e au!e organi8ational de i!ion! o$ten in4ol4e more t,an one per!on and2 <u!t a! o$ten2 more o$ an organi8ation( Re!ear , relating to de i!ion! 6it,in t,e organi8ation2 ,a! identi$ied $our t1pe! o$ pro e!!e! and de i!ion!( T,e1 are in$luen ed '1 4ariou! $a tor! !u , a! t,e internal !tru ture o$ t,e organi8ation! and t,e $a tor! 6,i , re!ult! in t,e $raming o$ t,e external milieu(

Management and De i!ion Ma"ing Pro e!!

))

Organi8ation! $a e dail1 pro'lem! t,at re;uire manager! to ma"e de i!ion!( De i!ion>ma"ing i! pla ed in a ontext ,ara teri8ed '1 a !erie! o$ $a tor! on!tantl1 ,anging ,indered '1 un ertain in$ormation and on$li ting 4ie6point!( Manager! toda1 $a e a num'er o$ pro'lem! 6,i , in mo!t a!e! tend! to 'e ,ig,er t,an non>programmed de i!ion!( T,i! i! 'e au!eD t,e 6or"ing en4ironment o$ toda1 i! rapidl1 ,anging along 6it, in rea!ing ompetiti4ene!!( T,e urrent en4ironment ,a! re!ulted in an in rea!e in 'ot, num'er o$ de i!ion! t,at mu!t 'e made and t,e ulti4ation o$ ne6 de i!ion>ma"ing pro e!!e!( T,e indi4idual de i!ion o$ manager! an 'e de! ri'ed in t6o 6a1! @+la " H Greger!en )5502 p( -5>99B( T,e $ir!t de! end! '1 Lrational approa ,? 6,i , !ugge!t! t,at manager! !,ould ma"e de i!ion! "eeping in 4ie6 t,e ir um!tan e! and t,e !e ond one ome! $rom t,e per!pe ti4e o$ 'ounded rationalit1 t,at de! ri'e! ,o6 de i!ion! !,ould 'e ta"en2 under t,e on!traint! o$ time and re!our e!(

T,e Rational Approa , T,i! approa , allo6! t,e de i!ion ma"er t,e luxur1 o$ gaiuging all t,e ground! 'e$ore $rmaing a de i!ion( In ot,er 6ord!2 t,i! modu! operandi to ta"e a de i!ion allo6! t,e de i!ion to !tand on a logi al ground 'a "ed '1 reali!ti $a tor!( A deep "no6ledge o$ t,e pro e!! pertaining to rational de i!ion an ,elp manager! ma"e 'etter de i!ion! e4en in t,e a'!en e o$ lear in$ormation( A'out rational approa ,2 t,e de i!ion>ma"ing pro e!! an 'e di4ided into eig,t !tage! 6,i , are a! $ollo6!: )( Monitoring o$ En4ironment: It i! t,e dut1 o$ t,e manager to loo" a$ter or monitor t,e in$ormation oming $rom 'ot, internal a! 6ell a! external !our e!2 to gauge i$ t,ere i! an1 di4ergen e $rom t,e a epta'le 'e,a4iour( To do !o2 a manager !,ould 'e a'le to

Management and De i!ion Ma"ing Pro e!! ra$t $inan ial !tatement!2 identi$1 t,e urrent and $uture ompetitor!2 and t,e remuneration pa "age! to "eep ,i! or ,er emplo1ee! moti4ated(

)-

)( De$ining t,e Pro'lem: At t,i! !tage2 a manger need! to identi$1 t,e au!e o$ t,e pro'lem along 6it, it! !our e !o t,at t,e pro'lem an 'e dealt 6it, t,e relati4e tool!( -( Spe i$1 t,e o'<e ti4e! o$ t,e De i!ion: T,e manager determine! 6,i , per$orman e re!ult! !,ould 'e o'tained a! a re!ult o$ a de i!ion( 9( Diagno!ing t,e Pro'lem: T,e manager trie! to $igure out t,e au!e o$ t,e pro'lem2 to $a ilitate t,e diagno!i!( Plu!2 it al!o ,elp! to olle t more data to ulti4ate t,e !olution! $or t,e $uture pro'lem!( F( *nder!tanding Cau!e: It allo6! determining t,e appropriate our!e o$ a tion @poor !ale! due to lo6er pri e! o$ ompetition2 or not ,a4ing pla ed t,e mo!t promi!ing item! in a 4i!i'le lo ationB( E( Crafting Alternate ol!tions: In order to $ormulate or ra$t alternati4e !olution! to t,e pro'lem2 t,e manager !,ould ,a4e a plan and t,e tool! to exe ute and deri4e t,e !olution! out o$ it( Moreo4er2 t,i! !tage al!o $o u!e! on t,e num'er o$ alternati4e! alread1 pre!ent on t,e li!t o$ t,e manager( T,u!2 t,e manager 6ill onl1 t,en 'e a'le to go out or e4en ra$t alternati4e !olution! to t,e pro'lem!( A( Assessing Alternati"es: T,i! !tage !pea"! o$ t,e tool! in order to a!!e!! 6,et,er t,e alternati4e !olution! 6ill 'e a'le to meet it! o'<e ti4e! or not( T,e tool! ,ere in ul ate di$$erent !tati!ti al pro edure! and e4en o'!er4ational met,od!( 0( C#oosing t#e $est: Among t,e di$$erent alternati4e! a4aila'le2 t,e de i!ion ma"er no6 opt! $or t,e 'e!t po!!i'le !olution( T,i! !tage i! o$ riti al importan e a! it an eit,er !ol4e t,e exi!ting pro'lem! or reate ne6 one! 6it, t,e old pro'lem! alread1 in pala e(

Management and De i!ion Ma"ing Pro e!! T,i! i! al!o a ompanied '1 o'<e ti4e! and alternati4e! to !ele t t,e pat, o$ a tion 6it, a great ,an e o$ !u e!!2 example: Redu ing !ta$$ in!tead o$ in4e!ting in ad4erti!ing or appl1ing re'ate!( 3( A ,ie4ing an alternati4e C,oi e: T,e manager u!e! ,i! management !"ill!2 admini!trati4e and ,i! per!ua!ion !"ill! to en!ure t,at t,e de i!ion i! $inali8ed(

)9

T,e $ir!t F 'elong to t,e !tage o$ identi$i ation o$ t,e pro'lem2 6,ile t,e ot,er! repre!ent t,e !tage o$ !ol4ing t,e pro'lem o$ de i!ion>ma"ing(

Per!pe ti4e o$ +ounded Rationalit1 O$ten de i!ion! mu!t 'e made 4er1 ;ui "l12 manager! onl1 ,a4e a ertain allo ation o$ time and mental apa it1 and on!e;uentl1 an not e4aluate ea , o'<e ti4e2 pro'lem or an alternati4e( =urt,ermore2 t,e attempt to 'e rational ma1 'e limited 'e au!e t,e de i!ion! a! t,e1 mu!t 'e ta"en ;ui "l1 or 'e au!e o$ t,e enormou! omplexit1 o$ pro'lem!( T,e 'ig de i!ion! are not onl1 omplex to deal 6it, in a ompre,en!i4e 6a12 'ut man1 ot,er on!traint! ,inder t,e a tion o$ t,e per!on re!pon!i'le $or t,e de i!ion @.ut,an! -77E2 p( 03>3)B( T,e ir um!tan e! are am'iguou! and re;uire !o ial !upport and a !,ared per!pe ti4e2 a eptan e and agreement( T,e de i!ion pro e!! i! al!o in$luen ed '1 t,e orporate ulture and et,i al 4alue!( Manager! ma"e de i!ion! to plea!e ,i! or ,er !uperior!2 t,o!e 6,o per ei4e it a! po6er ,older! or ot,er people 6,o re!pe t and 6ant to emulate( /ie6 o$ 'ounded rationalit1 relate! it!el$ to t,e per!onal experien e o$ t,e indi4idual rat,er t,an o$ t,e atta ,ed ad4antage! and di!ad4antage! a!!o iated( Sin e it in$u!e! t,e per!onal experien e o$ t,e indi4idual t,ere$ore2 it! a'ilit1 to o$$er t,e a ;uire! !olution! annot 'e and !,ould not 'e de'ated upon( A! man1

Management and De i!ion Ma"ing Pro e!! e4ol4ing !u'<e t! area! do a "no6ledge t,e e$$ort! o$ !u , an approa ,( =or example: P!1 ,olog1 i! a !,ining example o$ !u , a pra ti e(

)F

In !ituation! o$ great omplexit1 or am'iguit12 t,e experien e gained in t,e pa!t and t,e <udgment mu!t in orporate intangi'le element! 'ot, in t,e identi$i ation o$ t,e pro'lem and in a !olution p,a!e( A 4i!ion too !imple o$ a pro'lem o$ten lead! to $ailure and t,e de i!ion>ma"ing manager! pre$er re!pond intuiti4el1 to a pro'lem rat,er t,an an opportunit1( T,e intuiti4e pro e!!e! are al!o u!ed in t,e pro e!! o$ !ol4ing t,e pro'lem( Man1 intangi'le $a tor! @t,e on ern o$ a per!on 6it, regard to !upport o$ manager!2 t,e $ear o$ $ailure2 !o ial u!tom!B in$luen e t,e ,oi e o$ t,e 'e!t alternati4e!( T,e!e $a tor! an not 'e ;uanti$ied !1!temati all1 and i! t,ere$ore an intuition to guide t,e ,oi e o$ a !olution( Manager! an ra$t a !olution 6,i , i! not onl1 'a!ed on logi al rea!oning 'ut al!o in$u!e! an element o$ apri iou! notion!( Per!pe ti4e o$ rationalit1 an 'e limited and t,e utili8ation o$ intuition an 'e adapted to ta"e non>programmed de i!ion!2 6,i , in4ol4e not onl1 t,e a4aila'ilit1 o$ !trong data 'ut al!o t,e logi al pro edure! %Mona,an -7772 p( 57>)EEB&

Carnegie Model A ording to t,e Carnegie model organi8ational de i!ion! are not ta"en '1 an indi4idual 'ut 4ia a ,ierar ,1 or a group o$ people( Group! are rendered a! temporar1 a!!o iation! o$ indi4idual! 6,o !,are !imilar o'<e ti4e! along 6it, t,e !ame per eption o$ t,e pro'lem! and t,e !ame line! o$ a tion( T,e po6er o$ t,e group i! greater t,an t,e po6er o$ t,e indi4idual2 !o t,e group an rea , ot,er6i!e unattaina'le goal!( It al!o expre!!e! t,at t,e de i!ion ma1 'e part o$ t,o!e 6,o do not 'elong to t,e organi8ation2 !u , a! trade union repre!entati4e! or on!ultant!( T,e

Management and De i!ion Ma"ing Pro e!! $ormation group! are t,e re!ult o$ t,e poli 1 o$ it! mem'er! @Hitt H Ireland -77-2 9>)FB( In addition to t,e in rea!ed po6er o$ t,e oalition2 ompared to t,e !ingle group! ari!e $or t6o rea!on!( One 'eing t,e !u'<e t! ,a! ogniti4e limitation! and time @'ounded rationalit1B2 t,u! t,e1 la " all t,e re;uired !our e! @in$ormation and !"ill!B( T,e po!!i'le alternati4e! and t,e expe ted e$$e t! o$ t,e!e alternati4e! an 'e ;uite

)E

di$$erent $rom ea , ot,er( T,e o'<e ti4e! o$ t,o!e in4ol4ed in t,e de i!ion ma1 'e on$li ting or t,e politi al a tion mem'er! o$ t,e oalition allo6! @t1pi all1 tradingB to arri4e at a on!en!u!( T,e negotiation pro e!! leading to t,e emergen e o$ group! and t,e pro!pe t o$ 'ounded rationalit1 impl1 t,at t,e de i!ion! ta"en are not optimi8ing2 'ut !ati!$a tor1 $or t,e mem'er! o$ t,e group( In !ituation! o$ ,ig, un ertaint1 and !trong on$li t! e4en imagina'le !olution! !eem! to 'e ex ellent( T,e Carnegie model de ip,er! t,at t,e de i!ion ma"ing pro e!! !,o6! t,at t,e $ormation o$ group! i! a lengt,1 pro e!! t,at in4ol4e! di! u!!ion! and negotiation!( Plu!2 great re!our e! in term! o$ time and people in4ol4ed( A! t,e 'urden o$ o'taining t,e on!ent2 t,e $ir!t alternati4e t,at meet! i! generall1 adopted and 6,en po!!i'le $ormali8ed poli ie! and pro edure! are adopted t,e 'etter !olution! 6,i , ma"e !pa e $or t,em al!o tend! to !ettle do6n( T,e model o$ de i!ion>ma"ing in !ome organi8ation! an al!o 'e 'a!ed on in rement!( In remental De i!ion>Ma"ing T,e model o$ in remental de i!ion>ma"ing pro e!!2 de4eloped '1 Mint8'erg $o u!e! it! attention on t,e !tru ture o$ t,e de i!ion>ma"ing pro e!! along 6it, t,e !e;uen e o$ a ti4itie! t,at are per$ormed to identi$1 t,e pro'lem and $ormulate a !olution( Due to t,e numerou! de i!ion! o$ unplanned nature o$ di$$erent onnotation!2 allo6ed Mint8'erg to render 'ig de i!ion! a! a re!ult o$ om'ination o$ man1 !mall de i!ion!( T,e de i!ion>ma"ing pro e!! o'!er4ed '1 Mint8'erg ,a! !,o6n t,at omplex de i!ion! tend to 'e 'uilt on mea!ure( T,e

Management and De i!ion Ma"ing Pro e!!

)A

de i!ion>ma"ing pro e!! on!i!t! o$ !e4eral de i!ion point! in 6,i , t,e organi8ation an de ide to !tart $rom an earlier point and tr1 !omet,ing ne6 @t,e !o> alled de i!ion>ma"ing arre!t!B( T,e model predi t! 1 le! o$ Ktrial and errorK t,at allo6 a gradual learning pro'lem and t,e on!e;uen e! o$ t,e !olution!( Organi8ation! tend to learn a'out t,e pro'lem! and t,e met,od! 6,i , 6ill 1ield t,e !olution 6,i , tend! to 'e 4er1 di$$erent $rom t,at a!!umed in t,e earl1 !tage! o$ pro e!!( Compared to Carnegie2 t,e in remental model pla e! le!! emp,a!i! on t,e politi al a!pe t! 'ut more attention on t,e internal !tru ture and d1nami ! o$ t,e de i!ion> ma"ing pro e!!( T,e pro e!! o$ ta"ing a de i!ion dri4en '1 a in remental $or e an 'e 'ro"en do6n into t,ree !tage! @identi$i ation2 de4elopment and !ele tionB in ea , o$ 6,i , are identi$ia'le ertain !tep or de i!ion>ma"ing loop @t,ere are 6a1! in 6,i , t,e organi8ation learn! 6,at alternati4e! 6ill 6or"B( P,a!e identi$i ation i! one in 6,i , t,e pro'lem i! re ogni8ed and diagno!ed @.ut,an! -77E2 p( 03>3)B( T,e pro e!! de i!ion 'egin! 6it, t,e per eption2 '1 one or more partie!2 per$orman e 'elo6 t,e expe tation! o$ impro4ement opportunitie! are not explored( A6arene!!2 o$ t,e pro'lem or t,e opportunit1 to 'ring it! diagno!i!( T,i! i! t,e olle tion o$ in$ormation and data $or it! under!tanding( T,e greater t,e !e4erit1 o$ t,e pro'lem t,e lo6er t,e degree o$ !1!temati and $ormali8ed diagno!i! o$ it(

Management and De i!ion Ma"ing Pro e!!

)0

CHAPTER ': (ETHODOLO)* Intro+!,tion T,i! ,apter explain! t,e met,odolog1 t,at i! applied in order to o'tain material2 in$ormation and data( It al!o de! ri'e! ,o6 t,e re!ear ,er ,a! anal18ed t,e olle ted in$ormation( =urt,ermore2 t,e ,apter di! u!!e! t,e approa , on t,e 'a!i! o$ 6,i , t,e $inding! are going to 'e anal18ed( T,i! re!ear , 6ill $ollo6 a mix met,od in order to arri4e on a on lu!ionD $urt,ermore2 it 6ill in ul ate 'ot, primar1 and !e ondar1 data( T,e re!ear , en ompa!!e! t,e pu'li ation!2 arti le! and !imilar !tudie! a e!!i'le on t,e Internet( Keeping in 4ie6 t,e approa , ta"en in earlier !tudie! t,e re!ear , 'egan 6it, a 'road anal1!i! o$ t,e exi!ting literature( Research (ethodolog! T,i! !tud1 tend! to extra t it! re!ult! 'a!ed on a mix met,odolog1 in order to gauge and ! ale t,e nomen lature o$ de i!ion ma"ing o$ A<il =inan ial Ser4i e! Compan1( =urt,ermore2 'ot, ;uantitati4e and ;ualitati4e met,odolog1 6,i , 6ill 'e u!ed to de ip,er t,e 6,ole pro e!! o$ de i!ion ma"ing( Data Collection T,e data 6ill 'e primaril1 olle ted 4ia in>dept, inter4ie6! 6,i , in ul ate! t,e managerial !ta$$ o$ A<il =inan ial Ser4i e! Compan1( On e t,e parti ipant! are !ele ted2 in>dept, inter4ie6! 6ill 'e done in order to render in per!on !emi>!tru tured ;ue!tion!( =ollo6>up and pro'ing ;ue!tion! 6ill al!o 'e a!"ed to o'tain lari$i ation o$ 6,at t,e parti ipant 6a! attempting to relate or to en ourage t,e inter4ie6ee to di! u!! t,e topi $urt,er( In order to meet t,e pretext o$ t,e paper2 t,e re!ear , tend! to 'e largel1 depended upon t,e re!pon!e! o$ t,e indi4idual!(

Management and De i!ion Ma"ing Pro e!! T,u!2 not mu , dependen e 6a! depi ted on t,e !e ondar1 !our e! o$ in$ormationD rat,er t,e

)3

$o u! 6a! around t,e primar1 in$ormation( T,ere$ore2 t,e re!ear , in lude! t,e inter4ie6!D t,e inter4ie6! too" pla e in a pri4ate room o$ t,e parti ipant! ,oo!ing2 6it, t6o ,air! and a ta'le t,at ,eld t6o re order!( E4er1 re!ear , 6or" ,a! a properl1 planned and !op,i!ti ated !trateg1 $or t,e exe ution o$ data olle tion met,od!( T,e !trateg1 u!ed ,ere in4ol4e! t,e detailed and exten!i4e re!ear , and olle tion o$ all rele4ant data $rom !pe i$i ele troni data'a!e!2 re!ear , paper!2 related <ournal!2 et ( On t,e ompletion o$ data olle tion2 a t,eoreti al model i! de4eloped in order to a! ertain t,e le4el o$ "no6ledge regarding t,e e$$e t! o$ !mo"ing 6,i , i! de4eloped !o a! to !u'!tantiate it! 4alidit1 and al!o it! relia'ilit1 @Cron'a , -77E2 p( )FB( Sam*ling Sin e t,i! !tud1 intend! to gauge t,e per eption! relating to t,e de i!ion ma"ing pro e!! o$ t,e management o$ A<il =inan ial Ser4i e! Compan1( T,ere$ore2 a uni$orm !ampling met,od 6ill not 'e a'le to deli4er t,e appropriate re!ult!( T,u!2 t,e !ampling met,od in t,e ontext o$ t,i! re!ear , tend! to 'e identi$ied a! ;uota !ampling and riterion !ampling( Alt,oug, 'ot, $orm! o$ !ampling 6ill 'e in orporated at di$$erent !tage! o$ t,e re!ear ,( T,e need to in orporate t6o !ampling met,od! al!o !tand on t,e rationale t,at t,e audien e! identi$ied in order to de ip,er t,e per eption! and re!ult! regarding t,e re6ard management !1!tem tend! to 4ar1 !igni$i antl1 'a!ed on t,e ,ara teri!ti ! @!ex2 age2 !o io>pro$e!!ional ategor1B( Iuota !ampling i! a non>random !ampling met,od2 a! it i! 'a!ed on t,e "no6n di!tri'ution o$ t,e population $or a num'er o$ ,ara teri!ti ! @Cre!6ell -7792 p( 99B( +a!ed on t,e limitation! o$ t,e re!ear , ;uota !ampling tend! to 'e appropriate2 'a!ed on t,e notion! t,at it pro4ide! a lo6 o!t modu! operandi( Moreo4er2 it al!o en!ure! ,eterogeneit1 and proportionalit1 o$ t,e !ample( Moreo4er2 riterion !ampling i! u!ed to en!ure t,at all parti ipant! meet t,e !tated riteria $or t,e

Management and De i!ion Ma"ing Pro e!! !tud1( A! t,i! 6ill ,elp in ulti4ating t,e de!ired re!ult!2 and to de ode t,e rig,t per eption!(

)5

Ot,er t,an t,at2 ;uantitati4e re!ear ,er! u!uall1 6or" 6it, large !ample !i8e! and !ample! tend to 'e purpo!i4e rat,er t,an random( Moreo4er2 t,e $a t i! 6ort, to 'e noti$ied t,at a letter explaining t,e re!ear , !tud1 6a! !ent to ea , parti ipant explain t,e purpo!e o$ t,e re!ear ,2 !o t,at no gre1 area in t,e entire re!ear , pro e!! tend! to exi!t( A! t,e parti ipant! re!ponded to t,e re;ue!t to parti ipate in t,e !tud12 t,e1 6ere a!"ed in detail i$ t,e1 6ould 'e 6illing to 'e part o$ a !tud1 in4ol4ing t,e tape re ording o$ t,eir experien e and opinion! on erning t,e notion! on 6,i , t,e re6ard management !1!tem need! to 'e $ormulated( Data Anal!sis $echni+ue A! ,ig,lig,ted a'o4e t,at t,e re!ear , 6ill in$u!e 'ot, ;ualitati4e and ;uantitati4e modu! operandi into t,e $old o$ t,e !tud1( T,u!2 t,e data gat,ered $rom 'ot, t,e organ! 6ill 'e anal18ed 4ia di$$erent met,od!( T,e in$ormation gat,ered 4ia ;ualitati4e mean! 6ill 'e de ip,ered u!ing ontent anal1!i! te ,ni;ue( A! it 6ill ,elp to identi$1 t,e di$$erent idea! $rom t,e in$ormation gat,ered2 6,i , 6ill al!o ,elp t,e re!ear ,er to a ,ie4e t,e rendered o'<e ti4e!( T,i! 6ill al!o identi$1 t,e trend i$ an1 $rom t,e an!6er! $ramed in t,e ;ue!tionnaire!( Moreo4er2 t,e data o'tained 4ia ;uantitati4e tool 6ill 'e de ip,ered u!ing t,e SPSS in order to render t,e meaning o$ t,e !tati!ti !( Research ,imitations Nonet,ele!!2 t,ere are "ind! o$ 'arrier! 6,i , ,a4e to 'e rendered to or "eep in !ig,t2 during t,e re!ear , a! t,e1 limit t,e po!!i'ilit1 and 4ariet1 o$ data an 'e olle ted( T,e ma<orit1 o$ re!ear , limitation! are t,e re!tri ted a e!! to in$ormation and re!our e!2 time management2 no a e!! to pro$e!!ional! $or editing and 4eri$1ing2 and an1 ot,er a ademi !upport!( *ndou'tedl1 t,e relia'ilit1 and 4alidit1 pla1 an important role o$ re!ear ,2 !in e t,e more

Management and De i!ion Ma"ing Pro e!! relia'le and 4alid o$ data2 t,e 'etter and on4in i'le out ome an 'e anal18ed a! a re!ult( In addition2 'ia!e! are anot,er extra 'arrier o$ t,e re!ear , pro e!!( T,ree main 'ia!e! 6,i , are !ele tion2 mea!urement and inter4ention ma1 'e ,appened and ,allenged in t,e !ampling approa ,(

-7

GANTT CHART TA Con!tru t re!ear , propo!al Dra6 up ;ue!tionnaire! Su'mit propo!al Timeta'le inter4ie6! +egin inter4ie6!2 o'!er4ation!2 $o u! group! and ,and out ;ue!tionnaire! Anal1!i! and rede$ine pro'lem@!B Implement $inding! Prepare dra$t report +egin $ull data anal1!i! %rite di!!ertation WEE1 ' . / 0 11 1' 1. 1/ 10 21 2' 2. 2/ 20 '1

Time .ine

C*CLE ONE

WEE)C9

TO DO Con!tru t re!ear , propo!al Dra6 up ;ue!tionnaire!

Per1ission Inter"ie2s

FCE A

Su'mit propo!al to ! ,ool ,eadma!ter and go4ernor! Timeta'le inter4ie6!

Management and De i!ion Ma"ing Pro e!! +egin inter4ie6!2 o'!er4ation!2 $o u! group! and 0C5 ,and out ;ue!tionnaire! 3in+ings )7 C )E )E C )0 C*CLE 2 Data Anal4sis Co15lete Dissertation )0 C -7 -) C -A -0 C 97 Anal1!i! and rede$ine pro'lem@!B Implement $inding! $rom 1 le ) Prepare dra$t report +egin $ull data anal1!i! %rite )-2777 6ord di!!ertation

-)

Management and De i!ion Ma"ing Pro e!! Re$eren e!

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+e!ter$ield2 D( H( @-779B( Total ;ualit1 management @9rd Ed(B( *pper Saddle Ri4er2 N(J(: Prenti e Hall2 97)>970 +lan ,ard2 P(N( H T,a "er2 J(%( @-77FB( E$$e ti4e Admini!trati4e Training@-nd ed(B( *pper Saddle Ri4er2 NJ: Pear!onMPrenti e Hall( +odd1 D( @-770B2 NManagement: An Introdu tionO2 =T Prenti e Hall2 p( -)3( Cre!6ell2 %( @-779B( Re!ear , de!ign: Iualitati4e2 ;uantitati4e and mixed met,od! approa ,2 Sage Pu'li ation!2 p( 99>95 Cron'a ,2 .( @-77EB( +e1ond t,e t6o di! ipline! o$ ! ienti$i p!1 ,olog1( Ameri an P!1 ,ologi!t Re4ie62 p( )->)E Den! om'e2 M(2 @-770B2 LT,e Good Re!ear , GuideD $or !mall ! ale re!ear , pro<e t!?2 @9rd edn(B2 England: M Gra6 Hill2p( ->)7 Hollida12 A(2 @-77-B2 LIualitati4e Re!ear ,?2 .ondon2 Sage .td2p( A9>07 Jo,n12 J( @-773B( Glo'al Mar"eting2 Tata M Gra6>Hill2 p( -->97 %ol$2 M( @-77AB( Meta>Anal1!i!: Iuantitati4e met,od! $or re!ear , !1nt,e!i!2 Sage Pu'li ation!2 p( E)>EE

Management and De i!ion Ma"ing Pro e!! Mona,an2 E( @-777B Management Decision Making: Spreadsheet Modeling, Analysis, and Application Cambridge2 *K: Cam'ridge *ni4er!it1 Pre!!2 p( 57>)EE Nel!on2 D(.( and Iui "2 J(C( @-777B( rgani!ational "eha#ior( 9rd ed( Sout,6e!tern College Pu'li!,ing: Au!tralia2 p( A7>37 +ateman2 T( S(2 H Snell2 S( A( @-7))B2 Management: $eading % collaborating in a competiti#e &orld @5t, ed(B( Ne6 :or"2 N:: M Gra6>Hill Ir6in2 p( 0)>05 +la "2 J(S(2 H Greger!en2 H(+( @)550B2 'articipati#e Decision(Making: An )ntegration o* M+ltiple Dimensions, Human Relation!2 p( -5>99 +u!ine!! S enario @-775B2 Decisions in 'aradise: ,o& to "e, or -ot to "e2 Criti al T,in"ing: Strategie! in De i!ion Ma"ing2 pp( )>F( =a ione2 P( H =a ione2 N( @-770B2 .hinking and /easoning in ,+man Decision Making, T,e Cali$ornia A ademi Pre!! M In!ig,t A!!e!!ment2 p( 9A>90

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Har4ard +u!ine!! S ,ool Pre!!2 @-77)B2 ,ar#ard "+siness /e#ie& on Decision Making2 Har4ard +u!ine!! Pre!!2 p( 57>))9 .ut,an!2 =( -77E( rgani!ational "eha#ior, )7t, ed( M Gra6 Hill Ir6in: +o!ton2 p( 03>3) Hin!82 /(+( and Ni "ell2 G(S( @-77FB2 'ositi#e /eactions to 0orking in 1ro+ps in a St+dy o* 1ro+p and )ndi#id+al 1oal Decision(Making2 Group D1nami !2 p( -7>-) Hitt2 M( A( H Ireland2 R( D( @-77-B .he essence o* strategic leadership: Managing h+man and social capital2 Journal o$ .eader!,ip and Organi8ational Studie!2 5@)B: 9>)F( Plou!2 S( @)559B .he 'sychology o* 3+dgment and Decision Making Ne6 :or": M Gra6>Hill2 p( 0A>03 Ru!!o Ed6ard2 @-77)B 0inning Decisions: 1etting )t /ight the 4irst .ime2 Cro6n +u!ine!!2 p( ))>)9

Management and De i!ion Ma"ing Pro e!! /an Knippen'erg2 D( De Dreu2 C(K(%( and Homan2 A(C( @-77FB( 0ork 1ro+p Di#ersity and 1ro+p 'er*ormance: An )ntegrati#e Model and /esearch Agenda2 Journal o$ Applied P!1 ,olog1 352 pp( )773C)7--( *llman2 G( @-77AB Making /ob+st Decisions2 Tra$$ord(

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