Mgmt499 Unit 2 Ip

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Date Submitted: 11/28/2012 08:32 AM

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RE: Understanding of how to make important decisions



There are many types of criteria that help in determining whether a manager is making a good decision. Three important criteria to consider include; utilizing an effective decision-making process, consider the ethical implications, and gathering information needed to make an effective decision. To assure a manager is making a good decision they need to evaluate the situation, gather information, consider the ethical implications of the decision, and how the decision could affect the company, employees, etc. By utilizing a decision-making process a manager can better determine the outcomes of possible decisions. There are assumptions of rationality which include; a clear and defined problem, predetermined outcome, pros and cons are established and defined, there are no time restrictions or cost constraints, and lastly the chosen solution will maximize company profit (Robbins & Coulter, 2007).

The decision-making process involves several steps; (1) identify the decision to be made along with the intended outcome, (2) gather information, (3) come up with options, (4) pros and cons, (5) possible outcomes, (6) ask for feedback from others about the situation, and (7) make the decision and monitor the outcome (, n.d.). Decisions in life as well as business have the same processes and the key to decision making is evaluating options, outcomes, and monitoring the decision. If a decision is not resulting in the outcome desired reevaluating the situation and the decision making process for another possible solution is needed.

In my previous experience in my business life I have made and seen made assumptions, they include flagging respondents as unreliable after one no call no show and only calling them as a last resort for future studies. This assumption of unreliability is based upon the...