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I. During the pandemic caused by Covid-19, businesses went through a severe crisis ar now they are making strategic projects to revive the business. CEOS of four companies (Padm Meghna, Jamuna & Surma) took decisions as follows: Padma: The CEO of the company formed a task force of 5 key employees. The CEO explaine the various alternatives to them and asked them to agree on their course of action as a tear He emphasized that that the decision should be taken on the basis of consensus and the should not be any conflict among the employees.

I. During the pandemic caused by Covid-19, businesses went through a severe crisis ar now they are making strategic projects to revive the business. CEOS of four companies (Padm Meghna, Jamuna & Surma) took decisions as follows: Padma: The CEO of the company formed a task force of 5 key employees. The CEO explaine the various alternatives to them and asked them to agree on their course of action as a tear He emphasized that that the decision should be taken on the basis of consensus and the should not be any conflict among the employees.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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1. During the pandemic caused by Covid-19, businesses went through a severe crisis and now they are making strategic projects to revive the business. CEOS of four companies (Padma, Meghna, Jamuna & Surma) took decisions as follows: Padma: The CEO of the company formed a task force of 5 key employees. The CEO explained the various alternatives to them and asked them to agree on their course of action as a team. He emphasized that that the decision should be taken on the basis of consensus and there should not be any conflict among the employees. Meghna: The CEO gathered his executives and asked them to brainstorm any type of response, including radical ones. He asked them to consider all possible alternatives. Then they picked one from the list that the group thought best. Jamuna: The CEO decided to respond to it quickly. He shut himself up in his office for a few hours of thinking and made his decision on an approach. He then communicated his decision to his staff and asked them to execute. Surma: The CEO hired a research team to analyze how technology companies have responded to the similar problems in the past and their performances for the next 5 years. Every possible data point was included in the study in order to not miss out on anything. Eventually, the research findings indicated the best course of action in order to maximize long-term benefit for the company. The four situations above each represent a different decision making style. Identify them. What problems the companies may face causing from the decision making style they adopted?
Transcribed Image Text:1. During the pandemic caused by Covid-19, businesses went through a severe crisis and now they are making strategic projects to revive the business. CEOS of four companies (Padma, Meghna, Jamuna & Surma) took decisions as follows: Padma: The CEO of the company formed a task force of 5 key employees. The CEO explained the various alternatives to them and asked them to agree on their course of action as a team. He emphasized that that the decision should be taken on the basis of consensus and there should not be any conflict among the employees. Meghna: The CEO gathered his executives and asked them to brainstorm any type of response, including radical ones. He asked them to consider all possible alternatives. Then they picked one from the list that the group thought best. Jamuna: The CEO decided to respond to it quickly. He shut himself up in his office for a few hours of thinking and made his decision on an approach. He then communicated his decision to his staff and asked them to execute. Surma: The CEO hired a research team to analyze how technology companies have responded to the similar problems in the past and their performances for the next 5 years. Every possible data point was included in the study in order to not miss out on anything. Eventually, the research findings indicated the best course of action in order to maximize long-term benefit for the company. The four situations above each represent a different decision making style. Identify them. What problems the companies may face causing from the decision making style they adopted?
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