Fundamentals of Management PDF

Added on - 31 Oct 2019

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FUNDAMENTAL OFMANAGEMENT – 618509
Table of ContentsIntroduction..............................................................................................................................3Decision making process..........................................................................................................3Defining the problem......................................................................................................................3Decision criteria...............................................................................................................................3Weigh decision criteria...................................................................................................................4Identify alternatives........................................................................................................................4Analysis of alternative.....................................................................................................................5Selection of an alternative...............................................................................................................5Implementation of the alternative..................................................................................................6Evaluation of the decision...............................................................................................................6Conclusion.................................................................................................................................6References.................................................................................................................................7
IntroductionABC Corporation Pvt. Ltd., based in Australia, is one of the top research companies in theworld that develops vaccines to cure different kind of diseases, which are spreading on amassive scale. Recently, the corporation has developed a vaccine that can treat a deadly virusthat is rapidly spreading in West Africa. The vaccine has been tested on infectedchimpanzees, which has yielded positive results and the health authorities of the country saythat it will take 10 years for the corporation to test it on humans as the side effects of thevaccine on human body are not yet known. Luckily, an African health worker hasvolunteered to use the vaccine in order to cure thousands of west Africans who have beeninfected by the virus.This report has been prepared to use the 8-step decision making process and decide whetherthe health worker should be allowed to use the vaccine or not.Decision making processDefining the problemThe problem that the managers of ABC Corporation are currently facing is a major issue thatthe people working in such a field are bound to experience. On one hand, the managers areobviously desperate to begin human trials because of the vaccine is actually successful incuring the virus, they will be able to save millions of lives and will also be able to stop thevirus from spreading or affecting the future generations. On the other hand, allowing thehealth worker to use the vaccine on humans, without having adequate knowledge about itsside effects on the human body is an unethical decision and might invite legal troubles for thecorporation. Further, the failure of the vaccine to work on humans or the possibility ofdangerous side effects could make the situation even worse. As a result, the managers of thecorporation are facing serious issue that has to be addressed as soon as possible.Decision criteriaFrom the view point of the corporation, reaching a solution to the problem is definitely noteasy. The corporation deals in the health industry and is required to follow an ethicalapproach in whatever decision it takes. Therefore, the solution to the present problem should
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