StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Decision Making Process Paper - Essay Example

Cite this document
Summary
It is crucial to note that it is not all the time that a person will be in a position to make the correct decisions based on the choices available for choosing. At times, people make decisions…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95.4% of users find it useful
Decision Making Process Paper
Read Text Preview

Extract of sample "Decision Making Process Paper"

Management Decision-Making Process Decision-making is the act that involves choosing two or more s of action. It is crucial to note that it is not all the time that a person will be in a position to make the correct decisions based on the choices available for choosing. At times, people make decisions without considering the better choice or gathering enough information (Bateman & Snell, 2007). Therefore, a person has to make sure that there is a record of important decisions to make, or identify the right decision.

The one time in life I had to make a personal and professional decision was when I decided to change my job one year ago. Three years ago after graduating, I took an entry-level job because of the experience and skills I would gain. However, after two years and joining the full-time rank of employees, I got frustrated with my job because of the low pay, I was getting. I was spending more than what I was earning and wanted this to change. I decided that I wanted to quit my job and start a small business.

It was a critical decision that I had to make carefully because the economy today is extremely challenging and in most cases, such entry-level jobs are a luxury when jobs are so hard to come by even for graduates. In addition, like all new business, I was not sure if it would be successful or not. In such situations, most parents are not happy with such decisions, so I had to convince my parents, why the loan I borrowed from them, was not a waste of their hard-earned money.According to Bateman and Snell (2007), to make an effective decision, the first step is to identify and diagnose the problem.

I had to recognize the difference that existed between my current job state and the state that I desired. In the second stage, it is critical to generate an alternative solution. I decided that since the little amount I had saved was not enough to start the business, I would borrow my parents a loan. The third stage in decision-making is to evaluate the existing alternatives and the fourth stage is to make a choice. I was spending more than I was earning, therefore found it wiser to quit my job and start a business where I would get the opportunity to earn more than I spent.

The last stage in decision-making process involves implementing the decision (Bateman & Snell, 2007). I knew this stage of decision-making required careful planning, so I made all the preparations necessary when starting a new business such as getting a business license and used but efficient office equipment. Today, I am a proud owner of a small business enterprise that has employed 3 people and with high monthly returns.ReferenceBateman, T., & Snell, S. (2007). Management: Leading & collaborating in a competitive world.

New York: McGraw-Hill.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Decision Making Process Paper Essay Example | Topics and Well Written Essays - 250 words”, n.d.)
Decision Making Process Paper Essay Example | Topics and Well Written Essays - 250 words. Retrieved from https://studentshare.org/management/1655852-decision-making-process-paper
(Decision Making Process Paper Essay Example | Topics and Well Written Essays - 250 Words)
Decision Making Process Paper Essay Example | Topics and Well Written Essays - 250 Words. https://studentshare.org/management/1655852-decision-making-process-paper.
“Decision Making Process Paper Essay Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.org/management/1655852-decision-making-process-paper.
  • Cited: 0 times

CHECK THESE SAMPLES OF Decision Making Process Paper

Quality Tools in Decision Making

QUALITY TOOLS IN decision making Name: Institution Introduction Numerous quality tools are influential concerning how people make decisions in their lives, concerning their corporations and businesses, and even in their personal lives.... An affinity program is integral in decision making, as it enables those with the responsibility of delivering a decision, to gather large amounts of information from a faction, within a limited or short amount of time.... As a group, they can the generate ideas and opinions and record them maybe on a wall, larger sheet of paper, haphazardly....
3 Pages (750 words) Research Paper

The Family Decision-Making Process and Consumer Behavior

This paper "The Family Decision-making process and Consumer Behavior" acknowledge the difference between individual and family or group decision-making processes, suggest the possible steps to resolving the issue of decision-making, and provide recommendations to consumer theory.... nbsp;… Group or family decision-making entails open opinions or reactions and articulacy among family members, where participants in the discussion agree and disagree, and negotiates in turns to resolve the differences....
6 Pages (1500 words) Term Paper

Decision Making

The final stage in the decision making process is reflection on action which involves determining whether the solution solved the problem adequately; this is done by examining the consequences and the expected outcomes of the solution.... hellip; This paper will discuss the process of decision making citing relevant examples, in addition, it will discuss how the decisions made can directly affect legal and regulatory issues, cultural perceptions and financial resources....
3 Pages (750 words) Research Paper

Judicial Decision Making

Judicial decision making: Case Analysis (Name) (University) (Date) Judicial decision making: Case Analysis Introduction Legal decisions are among the most crucial and difficult ones to take.... Hence, a legal subculture develops which comprises all those involved in the judicial process.... hellip; The decision maker should interpret the case at hand depending upon similar precedents and the gravity of the case.... In fact, it was an overruling of an earlier decision in Minersville School District v Gobitis....
7 Pages (1750 words) Research Paper

The Process of Institution Governance and Decision Making

One of the solutions to avoid the conflict amongst different stakeholder groups by the board of the higher academic institute is by provisioning of 'shared governance', which allows representation of views of all the stakeholders that are affected by the decision making process.... This happens because each stakeholder group provides the views and inputs related to their interest in the decision-making process of the board.... The process of institutional governance and decision making is dependent on how the authority is distributed amongst the administration under the legal rights and obligation....
3 Pages (750 words) Research Paper

Managerial Decision Making

The following term paper "Managerial Decision Making" dwells on the importance of the business decision-making process to a fashion store.... The decision-making process is a very significant function in any company that must attain success in the market.... Decision-making process stipulates the areas that the company can easily penetrate in the market without enormous incurrence on costs and any impending risks.... As the author puts it, the research culminated a number of sources to arrive at a concrete conclusion on what decision making can render to a company....
8 Pages (2000 words) Term Paper

Importance of Ethical Practices in Business Decisions

The paper "Importance of Ethical Practices in Business Decisions" tends to highlight both on the positive and negative side of ethical decision making approaches and activities.... The paper in the light of the above issue aims to critically analyze the ambit of ethical decision-making practices.... Ethical decisions making activities are conducted in a business organization based on codes of ethical practices.... nbsp;… The aspect of business ethics relates to the focus on managerial decision-making activities with a focus on the aspect of moral judgments and ethics....
6 Pages (1500 words) Term Paper

Judgement and Decision Making

The author of the current paper claims that every operation of a business requires the person in charge to make a decision regarding the activity that is being undertaken.... This paper explores different perspectives of the decision on acquisitions or mergers.... The decision process is gilded by the existence of information about the operation.... The necessity to hold a partial perspective of the acquisition process is in the case of value informed by the major benefits in terms of value that the process holds....
12 Pages (3000 words) Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us