Implementing New Loan Programs For An Earthquake

1462 WordsApr 17, 20156 Pages
The recession that we are currently undergoing had affected and continues to affect different business entities. One example is Countrywide, a mortgage lender corporation. In the fiscal year of 2001, 2002, and 2003 Countrywide experienced record earnings. Countrywide achieved this by implementing new loan programs that enabled them to defeat competitors. However, for several important reasons, decision making managers need to understand different managerial skills in order to avoid undesirable outcomes that may compromise the company’s and manager’s future. Managing requires the understanding of specific skills such as “effective decision making, making successful people-decision, communicating with or without the organization, properly using controls and measurements, skills in budgeting and planning, and skill in using modern tools and concepts of information technology.” All decisions are risky. Every decision is a commitment of the current resources with unpredictable and unknown future. If the most insignificant detail is disregarded in the process, a decision will collapse just like a bad built building in an earthquake. On the other hand, if a decision is closely observed and all required steps are taken, the risk will be reduced and the decision will have a great chance of success. Good decisions makers recognize the appropriate time to make a decision. The hardest part of making decisions is choosing the right decision for the current problem. A right
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