Final answer:
In the decisional management function, the manager's role during negotiations is known as the negotiator role. This role is crucial for reducing transaction costs and finding favorable agreements for the organization. Effective negotiation can balance efficiency with group consensus.
Step-by-step explanation:
In the decisional management function, the role where a manager negotiates on behalf of the organization is often referred to as the negotiator role. Managers undertaking this function must balance various interests and make decisions that align with organizational goals. When managers negotiate, they attempt to find a compromise or agreement that is favorable to their organization, be it in terms of resources, contracts, partnerships, or other business dealings.
The concept of transaction costs is relevant here, as they refer to the expenses incurred during the negotiation or decision-making process. By having a manager act as a negotiator, an organization can reduce these transaction costs because one person is focusing on the negotiation, rather than having multiple people involved, which can complicate and prolong the process. Nonetheless, this concentration of decision-making power increases the risk of decisions that may not align with the preferences of all within the organization, also known as increased conformity costs. However, by excelling in the negotiator role, a manager can guide their team or organization towards decisions that reflect both efficiency and group consensus.