Final answer:
Managerial decisions often involve semistructured, ad hoc reporting, and encompass a range of time frames from short term to long term. The leadership style of a manager can affect decision-making and team dynamics. Efficient and transparent communication from managers is critical for team success.
Step-by-step explanation:
Three characteristics of managerial decisions are:
- Semistructured, ad hoc reporting decision types: These decisions often involve a combination of routine and non-routine elements, requiring a manager to use their judgment and problem-solving skills.
- Short term, daily, monthly, and yearly time frames: Managerial decisions can encompass a range of time frames, from immediate daily decisions to those that plan for the month or year ahead.
- Long term yearly, and multi-year time frames: Managers also need to strategize and make decisions that will impact the organization in the long run, often extending beyond a single fiscal year.
Managerial decisions can significantly influence the success and direction of an organization. Managers utilize different leadership styles such as democratic, laissez-faire, or authoritarian, depending on the situation and the desired outcomes. The chosen leadership style can affect decision-making processes and how a team functions and achieves its objectives. A manager's ability to navigate these choices reflects their competence and can affect their team's perception, efficiency, and the level of transparency when communicating relevant information.