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Decision making process of an organization?
Decision-making is a crucial part of good business. The question then is 'how is a good decision made?One part of the answer is good information, and experience in interpreting information. Consultation ie seeking the views and expertise of other people also helps, as does the ability to admit one was wrong and change one's mind. There are also aids to decision-making, various techniques which help to make information clearer and better analysed, and to add numerical and objective precision to decision-making (where appropriate) to reduce the amount of subjectivity.Managers can be trained to make better decisions. They also need a supportive environment where they won't be unfairly criticised for making wrong decisions (as we all do sometimes) and will receive proper support from their colleague and superiors. A climate of criticism and fear stifles risk-taking and creativity; managers will respond by 'playing it safe' to minimise the risk of criticism which diminishes the business' effectiveness in responding to market changes. It may also mean managers spend too much time trying to pass the blame around rather than getting on with running the business.Decision-making increasingly happens at all levels of a business. The Board of Directors may make the grand strategic decisions about investment and direction of future growth, and managers may make the more tactical decisions about how their own department may contribute most effectively to the overall business objectives. But quite ordinary employees are increasingly expected to make decisions about the conduct of their own tasks, responses to customers and improvements to business practice. This needs careful recruitment and selection, good training, and enlightened management.Types of Business Decisions1. Programmed Decisions These are standard decisions which always follow the same routine. As such, they can be written down into a series of fixed steps which anyone can follow. They could even be written as computer program2. Non-Programmed Decisions. These are non-standard and non-routine. Each decision is not quite the same as any previous decision.3. Strategic Decisions. These affect the long-term direction of the business eg whether to take over Company A or Company B4. Tactical Decisions. These are medium-term decisions about how to implement strategy eg what kind of marketing to have, or how many extra staff to recruit5. Operational Decisions. These are short-term decisions (also called administrative decisions) about how to implement the tactics eg which firm to use to make deliveries.
In what ways can the location decision have an impact on the production system?
The location decision can have an impact on the production system due to the availability of resources and transportation. When supplies are close, production costs will be lower. In this case, the company can use a Just In Time production system to help reduce warehouse costs.
What is bottom up approach strategic management?
The bottom up approach to strategic management is when lower level employees provide input regarding business objectives. Employees help to make decisions on the direction of the business and future growth.
What are managerial changes created by post entrepreneurial organization?
Managerial changes created by post entrepreneurial organizations are the adjustments or decisions that are decided later in the organizations growth. These adjustments are made by the administrative team, with or without the employees best interests in mind.
Why is product management experience important for this role"?
Product management experience is important for this role because it demonstrates the ability to understand customer needs, develop successful products, and drive business growth through strategic decision-making.
Which of the following was not one of president Harding's goals?
President Harding wanted to support the growth of business and industry.
Why do you choose to make decisions even though you seem to know the better choice?
Making decisions is an integral part of learning and growth. Even if we know the better choice, we may still make decisions to gain experience, learn from mistakes, or simply because we need to take action. It's through making decisions, whether good or bad, that we continue to evolve and develop our decision-making skills.
Do blackberries need a trellis for support and growth?
Yes, blackberries benefit from a trellis for support and optimal growth.
Why is it imortant to make an importat decision alone?
Making an important decision alone allows you to truly consider your own thoughts and feelings without external influence. It helps you take ownership of the decision and build confidence in your ability to make choices. Additionally, being responsible for your decisions can lead to personal growth and self-awareness.
What is production decisions?
Product Policy plays a very significant and crucial role in the product establishment and its growth in the market.The marketer has to keep mind the product policy decision while introducing a product.It acts asa tool in the hands of the marketer.It involves the four majordecisions:1. Individual Product decision-It involves decisions related to product attribute, product branding, product packaging, productlabelingand productsupportservices.2. Product Line decision: It involves decision like ProductProductline stretching and Product Line filling.3. Product Mix Decision-It involves decision like Product mix width, Product mix length, Product depth, Product consistency.4. Product Positioning Decision.
How accounting provide relevant data?
Accounting provides the business with data such as debt, growth of the company and the effect of added investment. Accounting data can allow the decision makers in a company to make decisions that will not endanger the financial direction of the company.
What describes President Harding's goals?
he wanted to support the growth of business and industryhe wanted to support the growth of business and industry
What do plants take in from their environment to support their growth and development?
Plants take in water, sunlight, and nutrients from the soil to support their growth and development.
Why were the decisions made at the healing circle important to Cole in touching spirit bear?
The decisions made at the healing circle were important to Cole because they allowed him to openly express his thoughts and feelings, leading to a deeper understanding of himself and his actions. The circle provided him with a sense of community and support, helping him realize that he is not alone and that there is hope for change and growth.
What stage of product life cycle are price decisions most complex?
growth
What do caterpillars eat and drink to support their growth and development?
Caterpillars mainly eat plant leaves and drink water to support their growth and development.
The consequences of positive and negative decisions on the lives of others?
Positive decisions make the lives of others better. Negative decisions make the lives of others worse. Decisions that add something to somebodies life (or a "positive" decision) could either be good or bad, as could a decision that takes something from somebody's life (or a "negative" decision).
