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Final Project for Management Class

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Added on  2022-12-05

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This final project for a management class explores the process of decision making and its impact on organizations and individuals. It discusses different decision-making strategies, the role of ethics and tradition, and provides references for better decision making.

Final Project for Management Class

   Added on 2022-12-05

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Final project for
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Final Project for Management Class_1
Summary
In the last few years, public and private policymakers have made an amazing amount
of bad decisions. For example, choices over invading Iraq, not respecting global warming
treaties and ignoring Darfur are probably all registered as unfair in historical books. And how
about decisions to borrow, securities, or hedge the chance of credit default swaps on
subprime mortgages? This have been distributed over a multitude of corporations but even
individual organisations have taken poor decisions. Concentrations on decisions do not
always depend only on managers' mental processes. It may include reviewing open decision-
making elements what decisions are required, what input is being provided, key positions in
the process, etc.
We face each day situations which force us to decide. Some choices are easy, and
others are difficult. Some decisions are simple. Simple options include issues such as what to
wear; most people choose what to wear depending on the season of the year, the weather of
the day and the place. Other easy options include what to eat, which film to see and what to
watch on TV. Those that need a greater level of thought seem to be the most difficult
decisions. Examples of difficult decisions include things like where to go to school, and job
to take and when to get married and a family. This decision is complex because it affects our
whole lives; it determines our being and how we will survive in the future. While
implementing changes, the good and negative impact of industry should still be weighed and
positive results promoted. This prevents the potential losses for the group and maintains the
company's sustainable growth. Outcome is a key business aspect. There are some choices that
are simple and can be taken easily, without taking a lot of time and effort to make decisions.
But other scenarios, options and future consequences must also be taken into account
substantially. Fortunately, different strategies, based on various environmental
considerations, can be used when making tough decisions. Certain decisions are better taken
by groups. In the basis of the situation, team policymakers also have to adopt those templates.
Even where particular models are adopted, groups and people will also face possible decision
making problems. If there is so little evidence, decisions can be made on the basis of a sense.
In comparison, a paralytic analysis can be carried out by people where decisions are not made
on the basis of an infinite number of choices where there is too much detail.
Both ethics and tradition play a decisive role. A decision can be lawful but not ethical
from time to time. These grey areas around decision-making which further confuse the
Final Project for Management Class_2

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