Business management decisions essay

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Business management decisions essay

Essay on Decision-Making in an Organisation Article shared by: Read this essay to learn about Decision-Making in an Organisation.

After reading this essay you will learn about: Meaning of Decision-Making 2. Features of Decision-Making 3. Decision-making means selecting a course of action out of alternative courses to solve a problem.

Unless there is a problem, there is no decision-making. Decision-making and problem- solving are inter-related.

Business management decisions essay

It is the process through which managers identify organisational problems and solve them. Decisions may be major or minor, strategic or operational, long-term or short-term.

They are made for each functional area at each level. The importance of decisions, however, varies at each level. Long-term, major and strategic decisions are taken at the top level and relatively short-term, minor and operational decisions are taken at lower levels.

Decision-making precedes every managerial function. Decisions regarding what goals and ways to achieve them decisions before planningdesign of the organisation structure and span of management decisions before organisingnumber and type of employees required, sources of recruitment, method of selection, training and development methods, best match between job description and job specification decisions before staffingincentive system, leadership styles and communication channel decisions before directing and techniques of control decisions before controlling are taken for smooth running and growth of business operations.

All decisions are not based on past behaviour and practices objective decision-making. Most of the decisions in the complex environment are subjective in nature. Managers do not make same decisions in same situations. Decision-making is a modest attempt to match environmental opportunities with organisational strengths.

It is based on forecasts and assumptions about environmental factors. When a choice has been made, a decision has been made.

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Decision-making has the following features: The purpose of decision is to achieve a goal; sectional, departmental and organisational. It is required for every managerial function though it is closely related to planning.

How good are the decisions determines how effective are the organisational plans. It is a process of choice; choosing a course of action out of various courses to solve a specific problem. Problem-solving is the basis for decision-making as decisions are made to solve problems. Unless there are problems, there will be no decision-making.

Decisions are made to solve organisational problems and exploit environmental opportunities. Both problems and opportunities, thus, need decision-making.

It is a pervasive process. Decisions are made in business and non-business organisations. In business organisations, they are made at all levels.Essay # 1.

Introduction to Financial Management: A business organisation seek to achieve their objectives by obtaining funds from various sources and then investing them in different types of assets, such as plant, buildings, machin­ery, vehicles etc. Financial management is managing the finances through scientific decision­-making.

Operations Management. I. INTRODUCTION Operations management refers to the activities, decisions and responsibilities of managing the resources which are dedicated to the production and delivery of products and services. Essay # 1. Meaning of Decision-Making.

Decision-making means selecting a course of action out of alternative courses to solve a problem. Unless there is . Essay on Business Decision Making; Essay on Business Decision Making 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.

and decision-making are important skills for running a successful business. Management often utilizes. Business Management Essays Words 5 Pages Business Management The world of business has undergone radical and dramatic changes in the last decade changes that present extraordinary challenges for the contemporary manager.

We define the operations management decision-making process at this level, as the formulation of overall strategies for operations, typically involving inter-related areas of responsibility with operations management, and the taking of decisions in those areas in the pursuit of these strategies, all within the broader business context.

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