Free

Identify business decision - Essay Example

Comments (0) Cite this document
Summary
In regards to this, Harrison highlights that decision making is synonymous to efficient organizational management. On the contrary,…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.1% of users find it useful
Identify business decision
Read TextPreview

Extract of sample "Identify business decision"

DECISION MAKING Generally, a manager’s responsibility in an organization is influenced by organizations size, terms of reference of the job and hierarchy level. In regards to this, Harrison highlights that decision making is synonymous to efficient organizational management. On the contrary, Drucker argues that decision making is only an aspect of management. He adds that decision making depends on each person’s task and nature of work. Therefore, a worker is bound to make clear decisions at a particular time during their job (Piccirillo & Noro, 2008). As a manager of account receivable, I am tasked to make decisions to write off the debts based on the company policy and procedure.
At some point these decisions are long term and strategic. In that, writing off debts give the company a competitive advantage in the market. However, it is risky to make such decisions because it affects the revenue of the organization, also it can trigger many conflicts with other departments, particularly the marketing section. In addition, it affects monetary statement by understating a company’s profits. This is a very critical issue for comprehensive auditing and top management and therefore, require many consents from different directors based on approval limits (Piccirillo & Noro, 2008). Furthermore, the strategic nature of the decision require a lot of efforts and determination to collect these debts from customers.
Notwithstanding, the importance of the decision require that action should be taken sooner or later since these debts are outstanding from long time, and after taking all necessary action with customers, and sending there documents to court without any hope to receive these amounts. This decision is justified under structure procedure as per the write of policy which came under many steps and legal reviews.
Reference
Piccirillo, E. and Noro, M. G. (2008), “Guidebook for supporting decision making under uncertainties todays managers, tomorrows business”. Hackensack, NJ: World Scientific. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Identify business decision Essay Example | Topics and Well Written Essays - 250 words”, n.d.)
Identify business decision Essay Example | Topics and Well Written Essays - 250 words. Retrieved from https://studentshare.org/business/1654627-identify-business-decision
(Identify Business Decision Essay Example | Topics and Well Written Essays - 250 Words)
Identify Business Decision Essay Example | Topics and Well Written Essays - 250 Words. https://studentshare.org/business/1654627-identify-business-decision.
“Identify Business Decision Essay Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.org/business/1654627-identify-business-decision.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Identify business decision

Business decision making

...? BUSINESS DECISION MAKING By: Task 1 Trend Analysis of success and failure This study involves an analysis of thetrends of customer structure in the Bank DM for a period of five years between 2006 and 2010, to enable the management to make critical decisions leading to changes in the bank. In a report released by the bank’s personal Banking Director, the bank’s regular clients have been fluctuating between 15021 and 16110 from 2006 to 2010, with the highest number of regular clients recorded in 2007 while the lowest in 2009 (Institute of Business and Management, 2012). Within the five year period, the number of elite clients has risen from 453 in 2006 to 1124 in 2010....
14 Pages(3500 words)Essay

Business Decision Making

...?Business Decision Making Task a) The questionnaire should be relevant and user-friendly and it should be structured in such a way that it could easily extract a considerable amount of information without causing any offence or boredom to the respondent. Question 1) How often do you use the services offered by the library? This should have been a close ended question but it has been structured as an open ended question. Such types of questions invite some obvious replies and information obtained from this can be unreliable and meaningless. The term often is ambiguous in this case and different respondents will interpret it in different manner. For instance, some of the respondents will answer that they...
13 Pages(3250 words)Essay

Business Decision Making

...? Business Decision Making al Affiliation “Economic downturn is an inevitable aspect in any organization and once the business is hit everyone should be ready to embrace the consequences. However, that does not imply that layoff is the final resort that business goes for, rather, every organization that is a going concern has contingent plans to deal with such occurrences. Ladies and gentlemen, we cannot run away from economic downturns because we have strategies to deal with them. I am highly honored to have the best team in play and I thank you for your endeavors throughout the working period. It is clear from both the production and financial department that you have excellently performed well in delivering towards the success... should...
3 Pages(750 words)Essay

Business decision making

...BUSINESS DECISION MAKING The Rostos Fish Tavern Acknowledgment The of this paper wishes to express heartfelt gratitude to the 35 executives who responded to the data gathering exercise for the purposes of this study. Table of Contents Chapter 1. Nature and Background of the Study 2 Chapter 2. Review of Related Literature 3 Chapter 3. Data Gathering and Sampling Method 4 Chapter 4. Results of the Study 5 Chapter 5. Summary, Conclusions and Recommendations 7 Table of Appendices Appendix 1. Questionnaire... to...
5 Pages(1250 words)Essay

Business Decision Making

...Task a) Population is the total membership and is a of people, objects or events. Population plays a very essential role in any research, asthe population mainly represent the group of consumers who are the major users of the product or service. Thus to choose the best way for research is to gain information from all elements within the population. There are a number of different methods that are possible for conducting a research. It is essential to rightly classify and define the population for a research to ensure the marketing efforts are successful. The purpose of the market research is normally to choose the right customers for the business. This is to ensure that the business meets the needs of the...
10 Pages(2500 words)Essay

Business Decision Making Process

...Introduction Decision making is one of the most critical aspects of doing business because it involves complex chain of steps which one needs to follow in order to successfully perform the process of decision making. Organizations often follow a systematic process to make decisions and than take actions in order to implement such decisions. However, this systematic process of decision making involves complex web of activities and processes which one must need to undertake in order to make effective decision making. The effectiveness of an organization’s leadership qualities is often reflected by the quality of its decision making and as to how effective decisions are made. It is because of this reason that it is often important... for the...
10 Pages(2500 words)Essay

Statistics for Business Decision Making

...it currently does. It is easier to apply statistics and make decisions that are satisfying and which fit different scenarios and situations. Further, statistical analysis provides trends which form the backbone in planning purposes. In addition, advertising/marketing bodies use statistics to understand different markets and customer behaviour in order to formulate advertising/marketing campaigns. In general, market specialists use statistically analyzed data to identify reliable opportunities to develop and expand businesses. Introduction Human beings make tangible decisions which dwarf all sources of competition if more and better information from statistical...
7 Pages(1750 words)Term Paper

Business decision making

...drink or product. Distribution Data The data collection in Appendix 3 indicates that the different persons in different parts of Southern England might have different attitudes towards the distribution of these products. In this process, an online survey was conducted and 309 respondents responded to the survey. In the survey, the distribution was as follows: Central London: 139 Respondents London Suburbs: 72 Respondents Outside London: 98 Respondents. The average of the decision for persons in Central London was at 3.8. This indicates that respondents in London identify that they do not want to walk over long distances to purchase goods from natural juice. This seems to indicate that the consumers do...
11 Pages(2750 words)Essay

Business decision making

...Business Decision Making Introduction The paper aims at analysing the existing demand for bottled drinks in London for a given company, which is planning to introduce a new fresh-fruit based drink for health conscious customers in the market. The researcher will conduct primary as well as secondary research in this regard and present a formal report to the senior management for better decision making related to the project. Primary research The primary research was conducted in various markets of London for better coverage and quality of research. The researcher implemented two important tools of primary research methodology, namely questionnaire and face-to-face interview. During the...
11 Pages(2750 words)Assignment

Business decision making

...Teacher What factors influence the decision making of the individuals in your group? The factors that influence the decision making of the individuals in your group are satisfaction of the decision made, values of the decision maker and the group and heuristics approach to decision making. It is very common in my group that when my peers are faced with a dilemma that requires choices between variables of the options available, they would choose the one that they feel good about. The decision that they usually feel good about are those satisfies them. This kind of decision making is often used in choosing the kind of...
2 Pages(500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Identify business decision for FREE!

Contact Us