Business Decision Analysis
Not what you're looking for?
Do you have an example for me of an important business decision you have made in the past in which the results of your decision turned out poorly.
Lets say your manager is concerned and wants to make sure that you learned from this mistake and the likelihood of this happening in the future is minimal. Therefore she would like you to email her a reflective analysis about that decision.
1. Describe the decision, you had and the negative consequences of the decision, and its relative importance to you as the decision maker.
2. Can you compare and contrast your understanding of judgment and/or decision making using the three theories.
3. What would your analysis imply about our understanding of how we make judgments and decisions?
4. How will your analysis of this decision help you to make better decisions in the future?
Purchase this Solution
Solution Summary
In about 575 words, this response provides by example 'poor' past business decisions and uses reflective analysis e.g. decision, consequences, importance, theoretical application, etc. about that decision as a learning experience to prevent it from occurring in the future. This solution utilizes good examples so that a student can easily think of further examples of their own.
Solution Preview
1. Describe the decision, you had and the negative consequences of the decision, and its relative importance to you as the decision maker.
This question is straightforward. We have probably all made decisions that have had negative consequences; some with minor or major consequences, while others may have fallen in the middle somewhere. Let’s look at Enron and the scandal as an example. The manager cooked the book, using the rationale that it was okay to make the accounting books appear like the company was actually doing better than it was, because over time it would help the company. However, that was a very serious error in judgment and had serious consequences (i.e., court case, charges, the accountant being charged, and serious consequences associated with the company).
Another business example could be as minor as having an argument with a co-worker (expedient) without ...
Purchase this Solution
Free BrainMass Quizzes
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.