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Rational Business Decision Making

Title of the Book: Rational Decision Making for Managers
Author: Michael Towler; Sarah Keast

Learning Summary Paper

Summarize your learning from Decision Making. Consider the following questions in your summary:
•What concepts were new to you?
•What concepts are applicable to you? Why?
•What concepts are not applicable to you? Why?

Solution Preview

•What concepts were new to you?

Depending on the individual own perception towards new decision making methods within business to obtaining desired success, the new concepts can seem innovated or stagnated to a particular problem. Therefore, the self analysis of the individual must examine what new concepts on making good decisions warrants a new innovated method approach - that transcends stakeholders, audience (staff employees, work teams). Strategic management is key towards decipher proper decision making concepts that offers several approaches in reaching desired outcome with minimal risks. Basically, the plan of action that demonstrates effective decision making on project development or crisis management that leads to increasing profitability as well as brand identity and brand equity. Some key concepts in utilizing evaluation tools towards making decisions more efficient and proficient manner:

- Enterprise management systems: try and think of the vast database references allowing senior management to capturing the overall scheme of business operations. In doing so, the system in case cases of specification can allow the management team to monitor areas of concern prior to any major problems. Further, the management team can implement needed changes, such as, the following aspects:

a) Staffing Levels

b) Resources - try and think of the internal departments equipment, supplies, and any other source of requirement that facilitates the production of the product or service

c) Quality levels - try and think as the ...

Solution Summary

The review into decision making that assists management in accomplishing targeted project goals.