We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Intro To Decision Making Essay Sample

essay

Get Full Essay

Get access to this section to get all help you need with your essay and educational issues.

Get Access

Introduction of TOPIC

Every company has its own set of projects and programs that are aimed to enhance its performance as a team with a specific long term objective. There are a number of people assigned to design such projects and present it to the body for the decision making process, whether the product or project will be approved and given a chance to be advertised. The decisions that will be done through a panel discussion is very essential in a company because it has great effects with the sales and even the character of the company, whenever the product will be out in the market.

            Decision making is a process by which a person or a group of people takes into considering the possible advantages and disadvantages of an action. It is a step by which many factors are taken into account for the pursuance of an action. The decision making is often designated to the higher body in terms of a group or an organizing body. For corporations and companies, the decision making is up to the executive committee. It is accompanied by a detailed panel discussion that enables the panelist to be informed of the major and minor consequences of a decision.

Framing the decision

            In observing the situation of Dawn in deciding to buy the product that is used for the company, there are certain factors in the scene that can be concluded essential to the final decision she gave. Dawn, being the production manager at the company needs to have a good grasp of information about the product that they may be using in the future. It was stated that she already bought something that is just the same with the product o

r the Widget. In this case, she framed her decision with a thorough interview and listening with the

Sorry, but full essay samples are available only for registered users

Choose a Membership Plan
dealer who has provided her a video of the features of the said products. Given that the new product is sold with the same price as their old one, and that it has additional features, Dawn considered the amount that she may be saving by purchasing the product. She first had a bucket of the possible advantages of buying the product before buying it. After gathering the benefits it might give her and the company, she bought the product.

Factors on Decision Making

            In Dawn’s situation, I can see that she is concerned with the cost of the savings. She might though t that buying the same product with the additional features. It will not hurt if she will try. There is also a point by which she is asking herself if that is the best way she can help the company. The situation of Dawn was full of moments of thinking. Upon having enough reasons to buy the product, she eventually ended up buying it. She went for the benefits over the disadvantages of purchasing the product. The main reason why she decided to by the product is that she was persuaded by the salesman. It is defined as an art in an article of Working psychology (2004).

Finding my decisions

            In what I believe, decisions can be affected by our cultural views by which we consider a lot of things before jumping into something. Say, if we came from a very Christian family, we may consider the things that would also help our brothers and sisters. Moreover, in influencing others, we still need to consider our audience or those people that may listen with our arguments given (that the arguments) are formulated with a good logic and thus may form a good and sound idea. We influence others by how much we hold on to our ideas, how we give emphasis and heart over the things that we are saying.

Also, since we are beings that are made of different systems, we also have our brains that have a systematized way of synchronizing ideas. Before an idea is inculcated in us, it must pass the standards that are set by our major influences in life which are our country and our family. It is good though that we do not really jump with our instincts. Our brains are still functioning the best way they can to avoid dangerous circumstances and opportunities. As it was described in StudyTips (2008), we must be able to design a strategy in order to have an effective decision making process.

Reference

Working psychology. (2004). Retrieved April 22, 2008 from Working Psychology Web site:            http://www.workingpsychology.com/index.html

StudyTips.org. Decision Making. (2008). Retrieved April 22, 2008 from            http://www.studytips.org/decisionmaking.htm

We can write a custom essay on

Intro To Decision Making Essay Sample ...
According to Your Specific Requirements.

Order an essay

You May Also Find These Documents Helpful

Risk Analysis and Decision Making

Q1: Part A Risk administration is the method of recognising and proactively answering to project risks. Generally (but not always) you will gaze for modes to eradicate dangers or to minimize the influence of a risk if it occurs. A risk contingency budget can be established to arrange in accelerate for the likelihood that some dangers will not be organised successfully. The risk contingency budget will comprise capital that can be tapped in order that your project doesn't proceed over budget. Part B: We will require two figures for each risk: P--probability that the risk will occur. I--the influence to the project if the risk occurs. (This can be broken down farther into the cost influence and the agenda influence, but let's just address a cost contingency budget for now.) If you use this method for all of your dangers, you can inquire for a risk contingency budget to cover...

Deriving Consensus Rankings Via Multicriteria Decision Making...

Purpose – This paper takes a cautionary stance to the impact of marketing mix on customer satisfaction, via a case study deriving consensus rankings for benchmarking on selected retail stores in Malaysia. Design/methodology/approach – ELECTRE I model is used in deriving consensus rankings via multicriteria decision making method for benchmarking base on the marketing mix model 4Ps. Descriptive analysis is used to analyze the best practice among the four marketing tactics. Findings – Outranking methods in consequence constitute a strong base on which to found the entire structure of the behavioral theory of benchmarking applied to development of marketing strategy. Research limitations/implications – This study has looked only at a limited part of the puzzle of how consumer satisfaction translates into behavioral outcomes. Practical implications – The study provides managers with guidance on how to generate rough outline of potential marketing activities that can be used to take advantage of...

The Application of Decision Making Theory

Learning objectives 1. Understand basic control processes in decision-making, and develop appropriate control systems to support specific strategies 2. Identify and evaluate appropriate performance measures to properly assess performance 3. Recognise the importance and the impact of effective information systems in supporting decisions concerning evaluation and control 4. Describe the determinants of decision success and understand the decision making matrix 2 Introduction Text based sources for the Notes: Wheelen and Hunger, Ch 11 (2010) Text Pages 367 - 393 In this module, we will focus on evaluating decisions. In doing so, we will reflect on the operational and strategic decision-making processes and, in relation to the latter, take a closer look at the ‘strategic gap’. We will examine the evaluation and control process within the decision-making process, with a particular focus on measures and steering controls. Finally, we examine what Harrison has labelled as the determinants of strategic decision-making success,...

Popular Essays

logo

Emma Taylor

online

Hi there!
Would you like to get such a paper?
How about getting a customized one?