Effective Decision Making - Sample Assignment

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Effective Decision MakingNameDaniel PlescaUnit 1Effective Decision MakingWord count2000Date19-01-2021CONTENTSS. No.DescriptionPage No1.Review relevant issues that are important to making business decision.31.1: Outline the relevant issues that are important to making business decisions, withparticular reference to stakeholder needs and expectations. 31.2: Review the relevant information of the business issues where decisions areneeded.42.Explore approaches to the decision-making process and how to improveapproaches.52.1:Evaluate processes for obtaining relevant information on business issues andidentify where any strengths or weaknesses in approach exists.5Your NameAssignment1
2.2:Make decisions based upon information gained; provide justifications for thesedecisions and explain how the decisions should be disseminated.63.Recommend approaches to improve decision making.73.1:Make recommendations for improvements to the decision-making process,ensuring there is relevant participation in the process. 83.2:Plan for, communicate and oversee new approaches to decision making. 8Your NameAssignment2
1.Review relevant issues that are important to making business decision.1.1:Outline the relevant issues that are important to making business decisions,with particular reference to stakeholder needs and expectations.The need to make decisions is determined by the existence of problems concerning theactivity of the organization, i.e., complex theoretical problems or practical situations thatcharacterize the gap between what is and what should be. Referring to the decision-making process, J. Forester considered that: "to decide means to turn information intoaction”. The cause-effect analysis is based on the presence of undesirable resultsobtained as a result of carrying out some activities and highlighting the most probablecauses that generated the respective deviation. The decision-making process aims tosolve a problem, an action in which the manager is aware that there is a problem and tosolve it must identify and analyze alternatives.A competent management assumes responsibility for the effects of each decision andwill strive to optimize one decision or another, depending on the situation of thecompany, the information available, combining judgment and economic calculation withtruthful experience and even the intuition of experienced leaders.The starting point of the entire rational decision-making process is the establishment ofa single objective: for example, maximizing profit in case of certainty, or, in conditions ofrisk, maximizing the expected value.Even if at the beginning of the shareholders' activity, in general, they agree on makingbusiness decisions and corporate governance, over time and simply by intervening innew circumstances or personal disagreements, it can be difficult to fall agreement oncrucial business issues. Such a situation not only causes problems for shareholders, butoften has serious effects on the business.The list of issues that can be addressed in the Shareholders' Agreement is unlimited:- Scope and business objectives;Your NameAssignment3
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