MGT101 Fundamentals of Management Assignment
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Fundamentals of Management (MGT101)
Added on 2020-03-16
MGT101 Fundamentals of Management Assignment
Fundamentals of Management (MGT101)
Added on 2020-03-16
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DECISION MAKING1DECISION MAKINGBy [Student’s name]Professor’s nameCourse CodeUniversityDate of submission
DECISION MAKING2 Table of ContentsIntroduction......................................................................................................................................3The Process of Decision Making.....................................................................................................3Identification of the problem and purpose of the decision...........................................................4Information gathering..................................................................................................................5Principle of judging alternatives..................................................................................................6Brainstorming and analyze different choices...............................................................................6Evaluation of alternatives.............................................................................................................7Select the best alternative.............................................................................................................7Execute the decision.....................................................................................................................8Evaluate the result........................................................................................................................8Conclusion.......................................................................................................................................9Reference.......................................................................................................................................10
DECISION MAKING3IntroductionDecision-making process is a vital step that determines the viability and credibility of one's decision. Therefore, utilizing an appropriate method to make a choice is key to the realization of an outcome that is deemed as fair, viable and value adding to all the stakeholders directly impacted by the impending decision. This paper examines the role of a manager in inspiring ethics in the decision-making process in organizations. The report discusses all the steps involved in the process of making the decision, thus crucial in helping both the individuals and organizations to make right decisions.The Process of Decision MakingEntrepreneurs and managers make decisions on a daily basis regarding the operational and strategic issues in the company. These decisions largely dictate the fate of the company. A viable and appropriate choice is often a significant gain to both the business and image of the firm. Best practice decision making has clear stages and employs stakeholder’s involvement. Theparties directly or indirectly impacted by the decision have to be given an opportunity to express their opinion and enjoy the transparency of the process. Moreover, this involvement ensures that issues at hand are viewed in broad perspective and detailed analysis made to arrive at an optimum solution. (Stanovich and West, 2008, pp. 672-695). An ideal decision-making procedure should be guided by several steps that seek to identify the problem, collect information on the issue and weighing on the available solution. The detailed categorization of the process entails Identification of the problem and purpose of thedecision, Information gathering, Principle of judging alternatives. Brainstorming and analysis of different choices, Evaluation of alternatives, Select the best replacement, execute the decision
DECISION MAKING4and evaluate the result (Green, 2013). These steps provide a system process that people can follow to arrive at the best decision to their problems. The brainstorming phase give s the decision maker an opportunity to evaluate the best available alternatives, and thus, develop a robust approach to solve a given problem.Identification of the problem and purpose of the decisionThe emergence and rapid spreading of a terrible virus in West Africa has threatened the lives of people in that region. The fact that human life has to be saved and preserved at all costs, massive efforts and support need to be harnessed and channeled to salvage the situation. Interventions need to be made by different stakeholders including the World Health Organizationbody to bring sanity and dignity to the quality of lives of people from the region. However, everydecision has consequences. Firstly, the antidote discovered through the experiment done to chimpanzees proved it could cure the disease, but its side effects to human beings are still unknown (Sharot, Korn and Dolan, 2011, pp. 1475–1479).Ethics guides those drugs without knowledge of side effects should not be administered to human beings. This is because of potential harm to their bodies which can deny the victims dignified lives (Pant, 2011). Further, it is within the rights of the victims to have consent and approve any procedures and treatments to their bodies that impact on their quality of lives. Otherwise, the organization risks closure and massive lawsuits if the drugs occasions fatal side effects to the patients. As a manager, the issue needs to be looked holistically and in depth to determine the stakeholders and extent of their involvement (Chou, Johnson, Ward, and Blewett, 2009, 2282-2288). Also, the manager will set the goal and purpose of the decision sought as helping an ailing people recover and improve their quality of lives and also ensuring the
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