Managers are constantly  making decisions and those decisions have significant implications for employees, the organization, and its stakeholders. Many times these decisions must be made without having complete information. If you were a manager, what strategy would you use to provide assurance that the action you take has minimal impact on people and the organization? Provide specific examples and discuss how you would develop a solution.

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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Managers are constantly  making decisions and those decisions have significant implications for employees, the organization, and its stakeholders. Many times these decisions must be made without having complete information. If you were a manager, what strategy would you use to provide assurance that the action you take has minimal impact on people and the organization? Provide specific examples and discuss how you would develop a solution.

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INTRODUCTION:

Organizational managers need to be adept at making decisions. In the realm of business, being able to make wise judgments quickly and effectively can be the difference between success and failure. Unfortunately, not all managers possess the ability to make sound decisions.

Making a good decision involves a number of different elements. These include expertise in the subject matter, analytical prowess, originality, and experience. However, the capacity for critical thought may be the most crucial one of all.

Critical thinking is the ability to examine a situation and weigh all the available options before making a decision. It involves taking into account all the relevant information and making a rational choice.

For managers, being able to make decisions quickly and efficiently is essential to the success of their organization. Those who lack the necessary decision-making skills will find it difficult to compete in today's fast-changing world.

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