The Use of a Business Game to Improve Decision-Making Process in Management

Abstract

In competitive business environments as the ones we live today, it is even more important for a manager to make better decisions. The classical model of decision making assumes managers have access to all the information needed to reach a decision. So, managers can make their decisions by ranking their preferences among existing alternatives. Unfortunately, it is very common that managers do not have access to all needed information to decide. Incomplete information leads to a high risk in the decision-making process. However, worse than that is not knowing what to do even having the information needed to decide. In this paper we present some lessons learned from the experience of the utilization of a Business Game at ISCAP/IPP, as a result of a partnership with UNIS-MG, a Brazilian University from Minas Gerais. For this study, a qualitative research approach was in place, since we used qualitative methods, mainly observation and semi-structured interviews. ISCAP/IPP is a business school of higher education that provides diverse programmes of studies in business areas: accounting and management, marketing, international commerce, business communication, secretary management, etc. Nevertheless, students miss some skills related with the decision-making process in management. In this learning experience students from different backgrounds improve their decision-making process in several ways: i) improve their knowledge about the organization; ii) understand the mind frame (from the background) used by colleagues to make their decisions; iii) interpret formal and informal documents available not only internally (such as financial statements), but also externally (such as macroeconomic projections and market reports); iv) realize that a manager needs to be more that an accountant or marketer, but most of times a mix of different backgrounds at the same time.

Value-Based Management Education: The Case of Health Care Management Course

“…Students are aware that contemporary business environment is turbulent; therefore, they need to develop the managerial ability to make good decisions (Silva et al, 2016). One-way policy makers and educators can help students in making responsible decision-making is designing educational framework that exposes students to mature and immature decision making.…”

“…As we are nowadays living in an increasingly turbulent environment the ability of managers and employees to make better decisions is gaining in recognition (Silva et al, 2016). Kleinmuntz et al (1987) proposed that the decision-making process can be explained as one where the individual acts, observes the outcomes of his or her actions, and later acts again.…”

Condições sociais de crianças e adolescentes que sofreram violência sexual: percepções da equipe multiprofissional

“…O processo de análise foi finalizado pela composição de categorias temáticas propostas por Bardin (20,21) com base nos marcadores sociais de vulnerabilidade como gênero, raça/cor (origem étnica), origem geográfica e classe social, visto que estes interferem nas condições de vida do indivíduo (22). Esses termos baseiam-se tanto em condições que têm relação com manifestações da natureza humana (idade, altura, gênero) quanto construções coletivas (classe, religião) que são discutidas no campo das Ciências Sociais (23).…”