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When there is a decline in sales, management will make business decisions in order to respond quickly to the drop in sales. Managers may lower their prices or introduce more products.
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How do you think good decision making has contributed to the success of this business?
good decision making is what we need because a company is not made by a single person . Its the idea of different people who help in improving a solution and making a good decision for a successful business strategy
What is the impact of organizational culture in its corporate decision making?
The impact of organizational culture in its corporate decision making is from top to bottom. This means that top management of the company makes all decisions and these decisions are mandated to the next levels of the company.
Issues in strategic decision making?
§ A company would have different people in decision making at different periods of time. Decision often require judgments and thus is important to note that the person related factors are important in decision making and the decision make differ as that person changes. § Again an individual does not take decisions alone. But often there is rumble in decisions, which could be between individual and group decision making. The decision taken by the group could be different from those that may be taken by the individual themselves. § The company would need to decide on what criteria it should make its decision. Thus it need a process of objective setting, which serve as benchmarks for evaluation of the efficiency and effectiveness of the decision making process. There are three major criteria in decision making- the concept of maximization, - the concept of satisfying, -the concept of instrumentalism. Based on the chosen concept, Strategic decisions will differ. § It is assumed that decision making is logical and thus there will be rationality in the decision making. In the context of Strategic decision making, it means that there would be a proper evaluation and then exercising a choice from among various alternative courses of action in such a way that it may lead to the achievement of the objectives in the best possible manner. § As the situations are complex, straightforward thinking may not be effective. Creativity in decision making may be needed, thus the decision must be original and different. But also based on situation and circumstances there could be variability in decision making.
What are some of the advantages and disadvantages for a company changing from private ownership to a corporate form of ownership?
Loose decision making
What is multifactor Decision making?
A decision- making technique in which individuals subjectively and intuitively consider the various factors in making their selection is known as multifactor decision making.
How can frontline employees be supported for decision making?
As the frontline employees have more skill and experience in the industry they are suitable for decision making. Also they are the senior employees of the company that too helps in the decision making as they very well know the culture of the company.
Impulsiveness poor decision making and addiction are effects of alcohol on which body system?
nervous system
What has the author Charles R Schwenk written?
Charles R. Schwenk has written: 'The limitations of participant recollection in the modeling of organizational decision-processes' -- subject(s): Economics 'The essence of strategic decision making' -- subject(s): Case studies, Decision making, Decision-making, Industrial management 'The manipulation of cognitive biases and heuristics in the creation of commitment' 'Some effects of planning aids and presentation media on strategic decision-making' -- subject(s): Decision making 'Effects of the expert, devil's advocate, and dialectical inquiry methods on prediction performance' -- subject(s): Decision making, Prediction theory 'Identity, learning, and decision making in changing organizations' -- subject(s): Knowledge management, Organizational change, Organizational learning 'Dialectical inquiry' -- subject(s): Planning, Decision making
How do you think good decision making has contributed to the success of this business?
good decision making is what we need because a company is not made by a single person . Its the idea of different people who help in improving a solution and making a good decision for a successful business strategy
What is the impact of organizational culture in its corporate decision making?
The impact of organizational culture in its corporate decision making is from top to bottom. This means that top management of the company makes all decisions and these decisions are mandated to the next levels of the company.
What were some long term effects of the delegates decision to continue to allow slavery?
Making it unfair to the slaves
Can you get bonded during bankruptcy?
That should be very difficult. If I were making the decision for the bonding company, I wouldn't.
When management considers social and economics issues in decision making the company is practicing?
social responsibility
What is decision and decision making?
Decision making is the process by which a decision is made. Communicating, when it comes to decision making, is the way the information about that decision is distributed to ensure everyone is aware.
What has the author Maria Rota written?
Maria Rota has written: 'Effects of size and technique on individual and group decision-making'
What refers to the people who truly influence decision making within a company regardless of their position on the company's organizational chart?
the informal chain of command
What is hedging approach?
Hedging approach helps the company in financing decision making related to debt maturity.
