Management Decision Making | Online Homework Help

Decision-making is a mode of ascertaining a preference after the need for a pronouncement has been acknowledged, assessed, and options have been appraised. According to Ingram (2017), various stages may assist a person with the decision-making process. In this case, administrators are capable of going through the phases in a fast way. Primarily, a person should recognize that a pronouncement should be agreed upon. Moreover, the person should gather data on the inside or external sources connected to the decision process. Subsequently, alternative options should be evaluated. This should be conducted in detail to ascertain which alternative would be the pre-eminent resolution for the required specific resolution.  Once a pronouncement is agreed upon, the person should execute the pronouncement into an actionable resolution. An analysis should then finalized to appraise the advantages and decisions of the pronouncement. This may help the person determine if the decision-making process was valuable, and the alternative chosen was proper, or if alterations are required when a specific pronouncement is acknowledged.  Comprehending the procedure of managerial decision-making may advance the effectiveness of the decision-making process.

MEMORANDUM

TO: Chief Executive Officer

FROM: Senior Manager

SUBJECT: Senior Manager Decision-Making Process

DATE:

Decision making in every corporation is dynamic. Nonetheless, making sound pronouncements for the company may be chaotic, particularly for freshly endorsed leaders. According to mmmm, three criteria may ascertain if the manager is making a good pronouncement. Foremost, a good pronouncement ought to be coherent with the corporation’s mission, vision, and objectives (Huff et al., 2017). Also, the decisions made should be evaluated from the perspective that aligns with the organization’s strategic plan and contributes to the achievement of strategic goals and objectives. Also, the pronouncements must be assessed from the standpoint that is in line with the company’s strategic design and facilitates the accomplishment of strategic goals. Secondly, how efficient the manager’s decision is assessed by checking into the preconceptions and assumptions, including the decision-making processes (Goetsch & Davis, 2014). Lastly, before implementing the manager’s pronouncements, the decision’s outcomes should be assessed against the pronouncement’s anticipated objective. If the pronouncement is corresponding to the desired purpose and helps in tackling the known challenges. If the three assumptions are considered, the manager is expected to make a good pronouncement.

One fundamental assumption of decision-making is that the pronouncement made will resolve the impending challenge (Brigham & Daves, 2012). For example, within the previously engaged company, personnel desired to work alone to accomplish allocated assignments. It was recognized that the personnel possessed various strengths and flaws in different regions. It was concluded that the personnel should team up to guarantee that they merge their strong point in developing a comprehensive project. Consequently, there is a growth in the production of the corporation, just as initially presumed. Besides, the personnel established good relations with each other and their administrators. It is similarly assumed that the pronouncement should bear an affirmative effect on the corporation and the persons involved.

Within the decision-making realm, assumptions are determined by misunderstandings that may not be based on facts. In most cases, the misinterpretation is founded on previous incidences, past practices, and prior communications (Kourdi, 2015). A real-life postulation made in my career was to propose a new project that would be managed similarly to the last project. In this case, I failed to thoroughly research the project as I presumed because it was a similar application, a similar vendor that the novel project may be an improvement to the initial project and could be managed similarly. After the project’s commencement, and apprehension transpired, and for me to be prosperous, I thoroughly reviewed the project.  Additional real life postulation entails an entrepreneur initiating a business founded on perceived demand. The business owner instituted a convenience store supposing that the site and needs would attract numerous clients.  However, the clients continued to shop at the known convenience store within the region compared to the self-sufficiently maintained convenience store.

Given the significance of proper expectations, the accurateness of various business expectations will be evaluated. Moreover, testing the business assumptions and confirming their reliability will be deliberated based on specific scenarios.  Foremost, an automobile producer’s supposition that SUVs’ need would remain since the price of gas may continue rising and an airline’s postulation that there was a requisite for an air company that offered no added facilities. Based on the airline assumption, this postulation appears to be truthful as most travellers opt to spend less money with a commercial airline. Clienteles prefer receiving amenities if offered devoid of extra charges and do not want to be mandatory to be charged for various components, for instance, baggage fees.  This postulation may be verified through surveys and focus groups offered to different travellers such as regular travellers and business travellers.  They can be provided with several traveling financial plans and diverse annual salary choices.

Conclusion

Applicable and accurate administrative pronouncements are essential for every corporation. Several pronouncements are better for strategic development, implementing new processes accomplishing firm objectives, and attaining a significant profit margin. Irrespective of the pronouncement required, good decision-making is evidence-based and not founded on postulations.

Regards,

Senior Manager.

 

References

Brigham, E.F. &. Daves, P.R.(2012). Intermediate Financial Management USA: Cengage Learning.

Goetsch, D. L., & Davis, S. B. (2014). Quality management for organizational excellence. Upper Saddle River, NJ: Pearson.

Huff, A. S., Milliken, F. J., Hodgkinson, G. P., Galavan, R. J., & Sund, K. J. (2016). A Conversation on Uncertainty in Managerial and Organizational Cognition’, Uncertainty and Strategic Decision Making (pp. 1-31). Emerald Group Publishing Limited.

Ingram, D. (2017). What Are the Steps in the Decision-Making Process of a Manager? Retrieved from http://smallbusiness.chron.com/steps-decisionmaking-process-manager-10601.html

Kourdi, J. (2015). Business strategy: a guide to effective decision-making. The Economist.

 

Do My paper price
Pages (550 words)
Approximate price: -

Why Essay-writing.com

Quality Research Papers

If you’re looking for an Essay writing service to help turn all of your hard work into a product that readers can appreciate, then look no further than our essay writing website. With a team of writers who go the extra mile, and customer support representative’s around-the-clock eager to assist you, we are ready to ace any exam or provide any posterity with what they need.

Top Assignment Writers

Our essay writers are experienced professionals who have the knowledge to write an essay about any subject matter in an interesting way while maintaining academic integrity. Our professional essay writers work day and night to ensure that you receive quality essays on time without any delay or interruption. Looking to "pay someone to do my assignment"? With many years of experience behind us, our essay writing website is now led by professionals with extensive knowledge in various fields of study.

Zero Plagiarism

For any write my essay for me request, you will never need to worry about plagiarism or getting caught up in the stress of completing assignments when you use our professional services! Get started today by ordering your first paper from us and we'll give you 10% off!

24/7 Customer Support

We are available 24/7, 365 days a year to help you out with your academic needs! if you have any "do my paper" questions or technical concerns, simply chat with one of our essay writing customer service representatives via the Chat Window on the bottom right corner of this screen

Prompt Delivery and 100% Money Back Guarantee

These academic experts are distinct from most other essay writing websites because they have doctoral degrees and decades of professional experience in academia. And because they know how overwhelming college life can be, we waive all minimum deadlines so you can focus on studying without worrying about your assignment always hanging over your head.

Free Revisions

Our Academic writers are confident and highly capable to take on any challenge ranging from a simple high school essay, question and answer assignment help, PowerPoint Presentation, research paper, dissertation, among others . However, we do not allow customers who abuse the free revisions privilege.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your "pay for essay" order

Fill in the homework order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits your "do my homework" request

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

When the world rushes and deadlines increase, it's hard to put your best foot forward. The Homework help website is here to help you with top quality essays on all topics, from history papers and engineering design descriptions to sociology case studies. For any write my essay for me request, you can count on a professional team of essay writers who are well experienced and researched in their field as they develop an original paper for you with 24/7 customer support.

Essays

Homework Help Service

The assignment help website is an excellent solution for all your problems regarding writing an outstanding admission essay. You don't need to worry about anything anymore because we will provide you with high-quality papers written by expert writers who know how to write professionally!

Admissions

Paper Formats and Types

From time management skills to APA format citations; from MLA formatting rules for research papers; from college application essays where the stakes are high--all these aspects of academic life become clearer as we write it all down on paper! Essay-Writing.com is a professional essay writing service that provides students with well-researched, high quality essays on any topic and at any level of study.

Reviews

Editing & Proofreading

Some of our clients prefer to write their essays themselves and have a third-party like Essay-writing.com proofread it for errors after they are done writing. We have a skilled team of editors and assignment helpers assignment helpers who examine your paper closely, looking out for any mistakes that may lessen the appeal or effectiveness of the essay as well as make amends in order to better improve its overall quality before you submit it anywhere else! For all your editing needs, turn to Essay-writing.com

Reviews

Revision Support

You work hard at your academics, and you should be rewarded, with a revision or modification for free on any order from a discursive essay , assignment to dissertation papers.

AllEscort