Decision-Making Factors

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Decision making 1. Decision making factors At the managerial level, the decisions made influence the outcome of the entire organization, as well as the future of the organizational staff members and its partners. In this setting, it is of the utmost importance for decisions to be made in a clear manner, in which they consider the totality of factors involved. At an external level for once, the factors which could influence the decision making process are multiple and some examples in this sense refer to the following: The overall state of the economy The purchase powers and purchase behaviors of the customers The political decisions made and the means in which these influence the organization The technologic advancements made and the means in which these technological innovations could be used by the company The pressures amounting towards environmental stability, as a result of the threat of global warming The strategies implemented by the competition and the means in which these could pose new threats for the firm. At an internal level, some elements of relevance for the decision making process could include the size of the company, the size of its budgets, its access to resources and its resource availability or the role played by the organizational staff members. In terms of a decision of whether or not the firm should become a for-profit, the factors which should carry the most weight are represented by the internal factors as these are best able to
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