Fatima Faiz 12f-8174 Sec B

Topic:
Managerial Decision Making Under Risk and Uncertainty
In past the decisions are made for the problem and the ignore the rules the decisions are made on
the context it should follow the rules and managerial risk should also be considered this article is
written on forest industry And it is the keen observation of forest industry.

The meaning of risk is different to an individual but here it is defined of 3 types 1. Risk, here the
outcome is concerned 2.uncertainity, does not know the outcome the risk is a gambling most said
if u take risk then u gain more profit now we examine the Swedish
forest industry and studyGood
how theyeffort
examine risk

Though
in this study they take interview with
of twelve formatting
managers of Swedish forest industry the interview are
of two stage study first stage is interview the second stage is questionnaire now the interview
mistakes!
starts they were ask to define risk most of them said fire risk, financial risk, technical risk etc.
Risk taking is good when the organization does not know about future otherwise it is good to
avoid risk if u r not gambler if u want to earn more than make a risky decision if the financial
situation of organization is poor then avoid risky decision.

they said that the risk is manageable if they have correct information and they make correct
decision about future but sometimes they make decisions on emotions and personal guts and they
does not know how to use computer because they think it is time wasting the risk-prone wants to
go ahead they make risky decisions because they are ambitious they want to go ahead on the
other hand risk averse are those people who avoid to take risky decisions and in forest company
most of the people belong to this category the risky decisions should make top management and
when the middle level manager made decision other help him in forest industry it is necessary to
follow the culture if employ doesn’t follow then they lose their job and most of them are no in
written foam

now here we the half said they are risk taker two said they are not and 4 said they are in between
so we cannot identify is the forest industry managers are prone or averse here we see that the
managers have lack of skills they have not proper data but they said to make risky decision one
should have proper data. The prone should said as desired one because they want to make
progress and company are looking for them and the averse are said undesired one. And they said
that there are many unwritten rules which they should follow

The managers should know how to use the modern machines i.e. computer because it gives the
accurate solution of calculation. They should make decision on information not on personal guts.