Essay on business administration

Please note that this Assessment document has 8 pages and is made up of 7 Sections.

Managers within organizations are faced with the challenges daily of making excellent decisions. In everyday life we are challenged in making sound decision, decision that will last for a life time. Folk often wonder after making a decision if it was the right choice, will it affect the people around me, was this a good choice for my family, and will the decision affect them. In order to be an effective manager you have to possess the skill of outstanding decision making skills. In order for one to be successful within their personal life they may also need to possess an understanding of effective decision making. The decision- making process should be one that makes a positive change. Can the decision making process work

What are the pros and cons of such an approach from the perspective of various stakeholders?

This problem was eventually solved by the implementation of MOE (Member – Organization – Employee). MOE helps employees in making better quality decisions for members; to being better able to be responsible for the different operations and decisions they make and be able to defend these. Also, MOE has helped employees to better identify what is right for a member. MOE can be seen as a regulating system where employees can fall back on when they struggle with making a decision but employees can also be held liable by their supervisors for the decisions they made. This example reflects that an increase in employee latitude can best be accompanied with a regulation system, which in this case was MOE.

Another potential barrier towards open communication within Knapp Sack Inc. that is often overlooked is personal emotional barriers. Some employees and people in general are reserved, shy, and/or lacking in confidence. Although these are considered personal issues, when we as a company push people to contribute in a certain fashion it can have the opposite reaction for these certain individuals. Not everyone within the company is going to be able to share their ideas, voice their concerns, or contribute the way we would like. But these individuals are still great assets and their contributions must be heard. To encourage open communication in this manner we must make sure that Knapp Sack Inc. is a safe environment. That everyone 's opinions are important and

Decision-making in the workforce is a process of responsibilities used by upper management to implement, enforce rules, regulations, and maintain a successful environment. Decision-making implemented more effectively by making a plan, thinking it through, accepting more than one opinion and determining what is best. However, decision-making often utilized more effectively by opening doors of opportunities for a suggestion, question, discussion, and feedback. Although, more involvement helps improve understanding, utilize behavior skills and present opportunities for better communication. Everyday life consists of decision-making, the right decision may not always be applied, but ensure room for improvement and opportunity. Individuals approached decision-making in many different ways. As stated by (Jones, Graham, & Bateman, 2006) decision making is a procedure used to recognize a problem, weigh the alternatives and evaluate a solution in which, certain situations will require different approaches to become effective.

The two groups noticeably suffered from a bounded reality. This concept identifies decision-makers who are restricted by various constraints (Kreitner & Kinicki, 2013). Throughout the case, workers are shown being left to guessing. Due to limited understanding and information, employees result to satisficing. Satisficing consist of selecting options that meet minimal qualifications rather than finding the optimal solution (Kreitner & Kinicki, 2013). This practice eventually led to poorly defined practices overall, unclear goals, and a lack of reliable and timely information (Kreitner & Kinicki,

The focus of my term paper is the decision making process used by today's top-level managers. Top-level managers, such as Chief Executive Officers (CEOs), Chief Operations Officers (COOs), and Chief Financial Officers (CFOs), must make critical decisions on a daily basis. Their choices and the resulting outcomes affect the company, the employees, and the stakeholders. Due to the high importance of their decisions, the process they use to reach them merits a close examination.

Neil Hastie’s belief that most organizations decision making is a lot of trial by error. In a sense that could be true, but good decision making comes from the top and makes it way down. Let’s not lose sight on what decision making really is; finding a logical choice of decisions from available options. A CEO or even management of any kind of organization would have to be good at decision making. If you were to turn Neil’s statement about decision making into a positive one, then one would agree that an organization or whoever is running the organization would need to keep an open-mind. Keeping an open-mind would include training, presenting timely information and everyone’s wide assortment of data-mining tools. (Haag & Cummings, 2009).

Decision making process depends on the trust build between members of the team. In the absence of trust, members will always be suspicious of decisions or suggestions made by other members of the team resulting to challenges in making sound business decisions.

This approach is useful when that the initiators do not have all the information they need to design the change and where others have considerable power to resist. This is the case at Perrier, where an identification of the real problem is essential. When using this approach it allows including the employees in the problem

Business Administration The idea of studying business administration has appealed to me greatly and has encouraged me to further develop my education following this path. I have a keen enthusiasm to pursue a degree in Business Administration as I enjoy the challenges it sets and find the many different areas of business you are able to branch out into, very exciting! From research about the subject I'm expecting to greatly further my learning of how businesses operate and be able to then put my knowledge into practice. I am confident within myself and find communication with others easy.

Thinking critically and making decisions are important parts of today’s business environment. It is important to understand how the decision making process works and the steps involved. The nine steps of the decision making process are: identifying the problem, defining criteria, setting goals and objectives, evaluating the effect of the problem, identifying the causes of the problem, framing alternatives, evaluating impacts of the alternatives, making the decision, implementing the decision, and measuring the impacts. (Decision, 2007.) By using various methods and tools to assist in making important business decisions an individual can ensure the decisions they make will be as successful as possible. In this paper it

An advantage of an open approach to decision-making is that nobody has all the power to make a decision. Everyone can give their opinion. There is more knowledge available

I solemnly declare that the report titled "Customer Acquisition in Personal Selling” in IDBI Federal Life Insurance”is a bonafide record of work carried by me, submitted to partial fulfillment of requirement for the award of degree Master of Business Administration under the guidance of MR GIREESH UDDAIYAR, MANAGER, IDBI FEDERAL LIFE INSURANCE