BU7002 Management Research: Decision Making in Terex Corp, Machinery

This report examines the critical role of decision-making within Terex Corp., a major player in the machinery industry. The research delves into the importance of strategic decisions for organizational growth and the application of effective management research methods. It explores the background of the study, including the significance of decision-making, the benefits derived from sound decision-making processes, and how these processes impact organizational development. The report outlines the research methodology, including data collection and analysis approaches, along with ethical considerations. It reviews relevant literature to support its findings, focusing on the impact of decision-making on various business functions, employee welfare, and customer attraction. Ultimately, the research aims to determine the value of decision-making in the machinery industry and analyze the benefits achieved through its effective implementation, providing insights into the challenges and opportunities associated with decision-making in a corporate environment. The report also includes a discussion on the various types of decision-making processes, and their implications for organizational success, with references to relevant studies and perspectives from industry experts.

Research 1
Management Research Methods

Research 2
Contents
Title:.................................................................................................................................................3
Introduction......................................................................................................................................3
Background of the study..................................................................................................................4
Literature Review............................................................................................................................7
Importance of the decision-making in the machinery industry...................................................7
Benefits achieved by the use of process of tsking decisions.......................................................8
The impact of decision-making improves the growth of the organization..................................9
Research Methodology..................................................................................................................10
Approach to data collection.......................................................................................................11
Approach to data analysis and writing up..................................................................................11
Research schedule..........................................................................................................................12
Ethical Considerations...................................................................................................................13
References......................................................................................................................................15

Research 3
Title: The importance of decision making in Terex Corp. of machinery industry.
Introduction
This research relates with the decision-making concepts used by the Terex Corp. works in
the machinery industry of United States. Terex Corp. is American Worldwide manufacturer of
lifting and provides material handling solutions. The company provides manufacturing facilities
all over the world. The process of taking decisions is necessary for the organization and it creates
an effective growth in the business (Ferrell and Fraedrich, 2015).The organization achieves
various positive outcomes by using the several decisions in the business. The process of taking
decisions is used to managing any organization and manages the several business activities. This
organization used the process of taking decisions to maintain the production and sales in the
business and achieve more growth in the machinery industry. All the organizational objectives
can be achieved easily by using the process of taking decisions. This research consists the
information regarding the process of taking decisions used in the Terex Corp. organization. The
several organizations used the overall process of decisions in increasing the growth of the
organization (MAKING, 2015). In the overall system of taking decisions, several barriers occur
which overall hampers the growth of the business.
Aims and Objectives
The research report aim is to analyze the importance of the process of decision- making
in Terex Corp. of machinery industry.
Objectives
The whole research focused towards the several objectives needed to be attained. These
objectives provide the proper information regarding the process of taking decisions. The
objectives of the research are:
 To determine the value of decision-making in the machinery industry.
 To analyze the several benefits attained by using process of taking decisions in the
business.

Research 4
 Create awareness of using decision-making methods to get the proper growth in the
business.
Research question
This research has one research question that determines the purpose of the particular project.
The research question is:
1. What is the importance of the process of taking decisions in the machinery industry?
Background of the study
The process of taking decisions is very important for the business or for any organization
that runs in the market. It is a very crucial part of every business and the organization needs to
make proper decision to go in the specific direction (Govindan, et. al., 2015).The organization
need to face several issues, if the decisions are not correct in the business. In Terex Corp, the
process of taking decisions based on the overall management of the organization. The effects of
poor decision-making create many problems in the business organization so the organization
needs to make proper system of taking decisions regarding the benefits of the company (Biard,
et. al., 2015). The whole process of making decisions is depend on the leaders of the organization
and it affects the completely process of taking decisions of the business. Only experienced
leaders can manage the decisions of the organization. This research is related with the
importance of process of taking decisions in the organization. Terex Corp. needs to manage their
decisions for getting proper growth in the business. The company lifting and material handling
provide solutions for the different industries. This company is related with the machinery
industry and the decisions are most important part of the machinery industry. (Birkland,
2015).Decisions is the main part of the business, which helps in achieving various objectives of
organization. This process is used to manage several business activities and supports in achieving
the required goal of the business.

Research 5
This research relates with the value of taking decisions in the management of the
business. The organization selected for doing this research is Terex Corp. The research includes
the different methods to determine the value of the decisions in the business organization. The
problem statement of this research is to analyse the effects of taking decisions in Terex
organization.
This problem can be solved with the help of the research carried out. The several methods
of the research report provide support in solving the issues related with the decisions. The
scenario of the research is to determine the reviews of authors in literature review of the
research. The next process of the research is research methodology, which includes different
methods of research like qualitative and quantitative research (Thiel, et. al., 2012). These ethics
are related with the issues arising in the research project .The issues is related with the
respondents which give the several responses related with the specific topic of the research . This
research includes the Gantt chart, which defines the time of each activity of the research .The
Gantt chart is very useful for defining the total time of the research. There are different types of
process of taking decisions, which gives several outcomes of the business. The types of taking
decisions are decision making process regarding consumers, personal process and business
decision-making (Gupta and Barua, 2016).In the decision making process the leaders, need to
choose among different alternatives. The process of taking decisions is very different with the
problem solving process.
This study helps the leaders of the organization to determine the best decisions for the
overall business. The background of the study defines the various methods used in the research
like data collection methods, Data analyse methods and many more other methods. The data
collection methods are one of the effective method, which is useful for undertaking the research
in an effective manner (Elwyn, et. al., 2012). This research is totally depends on the machinery
industry which works for making lifting. In the respective organization, this research plays a
significant role in taking several decisions, which are responsible for increasing the growth of the
business. Decisions are focused on a challenge arises in the business and consider the data which
helps to reduce the problems arises in the research (Kaplan, 2011).There are several activities
that together forms a better research projects

Research 6
Literature Review
Importance of the decision-making in the machinery industry
According to the Page, (2012), decision-making related with the different functions,
which is planning, organizing, directing and controlling the management. The process of
decision-making helsp in attaining the better results in the business. The leaders and managers of
the company this process helps to take the better decisions for the proper growth of the company
take the decisions in the organization. The management of the organization is totally depends of
the decisions taken by the leaders. The decisions are involve in several management activities
and organization process that leads to the increment of the customers in the business. The
decisions are involved in the every action of the business and every action related with the
growth of the business.
As per the views of Crossan, et. al., (2013), the manager of the organization takes several
decisions and it is not important that each decision taken by the leaders is correct. Due to some
wrong decisions, the organization decreases its growth. Therefore, for the process of taking
decisions, the leaders and managers need a proper training so that the number of wrong decisions
can be decreased. The process of taking decisions is necessary in the business and helps the
business to achieve the several objectives and benefits to get the proper growth. All the business
activities of the organization run in a proper manner by taking the good decisions regarding the
business as well as for the employees. The employee dedication is increased while involving
them in taking certain decisions for the better growth of business.

Research 7
Benefits achieved by the use of process of taking decisions
According to the Tanase and Tidor, (2012), the process of taking decisions is very
beneficial for the organization and it improves the overall benefits in the organization. The
benefits of the business are all depends on the decisions taken by the leaders and managers of the
organization. The decision-making provides several advantages to the organization and
especially on the individual decision. The group decision-making gives the various benefits over
the individual decision. The process of taking decisions gives more information regarding the
problems arises in the business. The knowledge of problems gives more experience to deal with
the problems and all of this improves the business area to get rid with the problems.
As per the views of Bouzan, e.t al., (2015), the multiple perspectives of decisions also be
improved with the decision-making. All the decisions become positive and it increases the
knowledge of the employees. The decision-making has the ability to increase the understanding
and knowledge of the individuals. The team of the business achieves growth in an appropriate
manner and all of the process gives several advantages to the people and improves the growth of
the business. The problem is solved in a well-defined manner with the help of the process of
taking decisions. The business reaches on the proper decision with the proper information that is
required.

Research 8
The impact of decision-making improves the growth of the organization
As per the views of Zhang, et. al., (2012), the process of taking decisions largely affects
the growth of the business and the overall business. The growth of the organization affects due to
decision taken by the leaders and managers of the business. There are various points related with
the decision-making that increases the overall growth of the organization. Terex corp. leaders
take the decisions for the proper welfare of the employees and it improves the positivity in the
business.
According to the Simmie, (2012), the decision needs to be identified properly as per the
requirements of the business. The leaders of the organization are very much involves in taking
several decisions and the decisions are used to attract the customers, and it ultimately leads the
growth of the business. The process of taking decisions is very confusing activity because in this
process, one alternative needs to be chooses from two alternatives. The best alternative can only
be choose by the experienced person. As per the information, it analyses that the good leaders of
the organization are also not good decision makers. They have not experience in taking certain
decisions for the betterment of the business. The organizational learning can be improves by the
proper decision-making and it improves the growth of the organization.

Research 9
Research Methodology
The research methods are used in making the research successfully. The research
methods help to give the several data and information regarding the specific research report.
Research method is used in collecting and analyzing the data, which gives the various
information, related to the decision making (Taylor, et. al., 2015). The methods used in the
research report are very important for the overall project as it improves the quality of the
research. The certain research methods, which helps in collecting data and in collecting the
responses from the respondents. This research relates with the importance of decision-making in
the business organization. Terex Corp. is used in this research to analyze the various impacts of
decision-making in the particular process.
The research methods are of two types that helps in getting proper results of the research.
These two methods are qualitative research and quantitative research (Smith, 2015). In this
research project, both methods has been used which is called the mixed methodology. The mixed
methodology is the best method to complete the particular project of the research. The methods
of data collection are primary data collection and secondary data collection (Thomas, et. al.,
2015). The primary data collection included the questionnaires and surveys by which the
respondents response the answers regarding the research topic. In this research topic, both of the
methods of data collection have used. The data collected by the questionnaire and the reviews of
authors taken related with the specific topic. The questionnaire is distributed among the
respondents and they need to give the related answers with the particular topic of the research.
The respondents are the employees of the Terex Corp (Hair, et. al., 2015).The various authors
give the secondary data collection collected with the information taken that. These views of the
authors also suggest the impact of decision-making organization in the particular business. The
proper information collects with the process of data collection and that information is analyzed in
such a way that it gives the correct information on the research topic. In the place of
questionnaire, surveys can also be used for the primary data collection, which also gives the
better results.
Approach to data collection
The collecting of data is the best approach is the most important approach that is all
depends on the research project. The research needs to be processed related with the quantitative

Research 10
data collection for the proper collection of proper information. The overall collecting data
depends on the process of the research project. The data collection strategy is very important for
the research method, it helps in collecting data from the respondents, and they give information
related with the research topic. The data collection process improves the quality of the
information and gives the real data that is actually related with the organization (Fellows and
Liu, 2015). The data collection approach is very important for the particular research project and
it implies the whole business process in a proper manner. The data collection process is used and
it includes the questionnaire for collecting the data. The questionnaire is the easiest way to
collect data and it gives the correct answers as per the research.. The several rules and
regulations used in the research especially in the data collection methods (Jackson, 2015). The
data collected by both methods needs to be right and proper so that no issues have been created.
Approach to data analysis and writing up
After the method of data collection, data analysis is also important for the overall
research project. The data analyse stage is one of the fundamental stages of the research. The
analyse stage comes after the collection of the data used in the research project. The data
collected by the primary methods needs to be analyzed that it should be relevant to the research
topic or not. The data analyzed by using graph and several other methods that signifies the real
process of the research project. Several data analysis techniques used to analyse the data. The
representation of graph is the most relevant and easiest method of data analysis (Duncan and
Fiske, 2015). The data analysis depends on the number of events occurred in the research project.
The analysis of data depends on the particular representation of data in the graph manner. The
analyse is one of the main concept that plays a significant role in the research project Data
analysis is one of the main concept that relates with the research project. The analysis of data is
used to provide the better results as per the research criteria.
Research schedule
Task Date of starting Ending Date Duration

Research 11
Problem
Identification
1-03-2019 2-03-2019 2 days
Literature Review 3-03-2019 5-03-2019 2 days
Data collection
process
6-03-2019 08-03-2019 2 days
Data analyzing
Process
09-03-2019 09-03-2019 1 day
Gantt Chart
Activities 01-03-
2019
02-03-
2019
03-03-
2019
04-03-
2019
05-03-
2019
06-03-
2019
07-03-
2019
08-03-
2019
09-03-
2019
Problem
Identification
Literature
Review
Data
collection
process
Data
analyzing
process

Research 12
Ethical Considerations
In the particular research project, the various ethical issues are arise which hampers the
overall research project and does not give the required information regarding the topic that is
related with the decision- making process that is used in Terex Corp. The several ethical
considerations included in the research proposal to determine the various objectives and goals of
the business. The major ethical issue relates with the privacy of the data. The respondents have
fear to lose their data so they get hesitate in give their responses regarding the decisions taken in
their companies. The people need to focus as per the issue of privacy among the respondents.
The research will included the surety that the information of the respondents will be secured at
its level. The information cannot share with other respondents and it will keep secure. This will
make the comfortable feel to the respondents (Walliman, 2015). The confidentiality is another
ethical consideration that will occur in the research project. The confidentiality of the
information is more important to secure because the respondents do not want to lose their
information among the respondents. The relevant information used in the research for getting the
proper knowledge regarding the particular topic.
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