o Provide an example of a decision you or your organization has made recently.
Describe the steps taken in making the decision and analyze the process to determine what decision-making model was used. Explain your rationale.
o Analyze the factors that determine how a decision or problem can be classified as into types.
o Think back to the Management in Practice Experimental Exercise. What is your personal decision? How do you feel these results truly reflect your decision- making style? How could this exercise be leveraged to make managers better at what they do?
o In the current business world, team projects are commonplace. Discuss the strategies you as a leader would implement in team decision making.
Explain how innovation is an element in organizational change.
o Change can be difficult to implement and maintain. Assume you are a manager in a company, what strategies would you use to attempt to successfully achieve your goals?
o Assume you are a manager in a company that has fallen behind the times in technology. How do you convince upper management that if the company does not modernize there will be significant consequences?
o Reflect upon the results of your Management in Practice Experimental Exercise. Is your company creative? One aspect of creating change is giving your employees a sense of ownership in the change; giving your employees creative input can help reduce resistance. In light of your evaluation, analyze if your company openly works at reducing resistance through creative input or what measures your organization can take to create further opportunities for creative input.
A recent decision made by the organization is one in which company committed a significant amount of money for effective marketing and brand building of the company's products. In making this decision a problem was identified in the trend by which sales had been falling over the past three years which were problematic as they impacted the revenues and profitability of the company and in turn impacted the share value of the company. After identifying this core problem of falling sales, alternative solutions to resolve the issue were developed , and a more strategic one based on the building the brand of the products offered by the company and developing marketing strategies that will ensure the products are able to reach the target markets even more effectively. These the company implemented these decisions by securing funds for its take off, than the decisions are still being implemented with results being analyzed to ensure required impact that solves the problem is acquired. The decision making model used in solving this problem was the rational decision making model. This is because, within the decision making process judgment of the benefits and costs of solutions were based on various viable alternation solutions, with the most sensible and logical option which would best solve the problem picked (Decision Making Confidence, 2012).
Factors which determine how decisions can be classified into types are risks involved in decision making which determines the uncertainties and certainties that are prevalent in various decisions, the nature of the decision problems whether they are structured or not. The decisions problems which are structured are often described using mathematical models where standard solutions are adopted for bring the best solutions. Decision models which are unstructured usually do not have a standard way in which such solutions can be resolved and most are resolved based on human intuition. In essence therefore, the basis upon which to make a decision problem is resolved is an important factor in determining how to classify a decision or problem (Niu, Lu, & Zhang, 2009). In addition, the process used in solving a problem is critical in determining how decisions are classified since this determines the approach that is to be taken in solving the problem whether from a much narrower viewpoint starting from what one knows to what they do not know, or through a wider view point starting from what is not known working towards what is known.
Based on the decision to increase expenditure on marketing in order to boost sales, I concur with the decision reached as this decision is very critical in helping the ...