Essay Decision Making

Submitted By KeraJoRiedel1
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Decision Making
Kera Riedel
Business Management
Mr. Gonzalez
July 14, 2013

Abstract
There is so much that goes into creating and having a decision making plan with a company. Companies today are in need of some kind of a decision making process. Having a decision making process makes it easier when it comes to making cooperate decisions for the company whether it be dealing with financials of the company or production of the product.

A company has to have good information part of the answer is good information, and experience in interpreting information. Consultation seeking the views and expertise of other people also helps, as does the ability to admit one was wrong and change one’s mind. There are also aids to decision-making, various techniques which help to make information clearer and better analyzed, and to add numerical and objective precision to decision-making (where appropriate) to reduce the amount of subjectivity. Managers can be trained to make better decisions. They also need a supportive environment where they won’t be unfairly criticized for making wrong decision, as we all do sometimes, and still receive proper support from their colleague and superiors. A climate of criticism and fear stifles risk-taking and creativity; managers will respond by “playing it safe” to minimize the risk of criticism which diminishes the business effectiveness in responding to market changes. It may also mean managers spend too much time trying to pass the blame around rather than getting on with running the business. Decision-making increasingly happens at all levels of a business.
The Board of Directors may make the grand strategic decisions about investment and direction of
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