Decision Making the Business Community Term Paper

Then, they will have to offer training programs to their staff. Also, they will have to prospect the market and contract designers in order to identify the necessary features of the new line of cars. Finally, they will have to allocate sufficient financial resources for the implementation of their decisions. But what if the company does not possess these resources? They could get them by engaging in downsizing operations. They must then find a most suitable way to communicate the decision to the staff, must get their approval for the changes and must further motivate the remaining personnel to increase their efforts and sustain the organization in reaching its overall goals.

Deciders must have visionary minds in order to foresee the effects of the implemented strategies. Then, they must also support their decisions with not just vague estimates, but also with calculi, empirical evidence and the experience of other similar organizations. The role of the manager is vital for the overall success of the organization and no company will reach its goals if it is not being led by a skilled, competent and committed manager. Furthermore, the manager must constantly change himself and adapt to the market and industry features in order to best understand them and make the best informed decision. In other words, the manager must evolve. And that is why the final decision is always left to the senior manager, rather than being made by a subaltern. "Senior managers analyze and act on problems far differently than their more junior colleagues do. Those whose thinking does not evolve may not advance" (Brousseau, Driver, Hourihan and Larsson)

Finally, the decision making process must also consider any event residing within the organization or outside it that could influence the outcome of the implemented decision. In this particular sense, all forces that represent potential risks must be eliminated, and if total elimination is not possible, these risks should be limited to a minimum. These measures and the decisions made at this stage in the process help the organization prepare itself for the eventuality of a negative event occurring. And if this event were to happen, the company will be able to minimize the negative effects.

To make the most of the implemented strategies, change should not be perceived as an isolated phenomenon that is difficult to accept; it should be best approached as way of life, as a corporate style and as a business model that recognizes and embraces the need to conform to the new requirements of the environment.

References

Brousseau, K.R., Driver, M.J., Hourihan, G., Larsson, R., the Seasoned Executive's Decision-Making Style, Harvard Business Review, Online Version, Retrieved at http://www.hbsp.harvard.edu/hbsp/hbr/articles/article.jsp?articleID=R0602F&ml_action=get-article&print=trueon March 26, 2008

Buchanan, L., O'Connell, a., 2006, a Brief History of Decision Making, Harvard Business Review, Volume 84, Issue 1, pp. 32-41

Kotter, J.P., 1996, Leading Change, Harvard Business School Press, 1st edition