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.
Nobody downloaded yet

Sub-Problems in Decision Making of Business Management - Literature review Example

Comments (0)
Summary
Sub-Problems in Decision Making of Business Management Table of Contents Introduction Hypothesis Literature Review Methodology of Research Sources of Data Methods for Data Collection Analysis and Interpretation of Data Ethical Considerations References Appendix Business Management and Decision Making Introduction Decision making is one of the integral elements within management of a business or organization…
Download full paper
GRAB THE BEST PAPER

Extract of sample
Sub-Problems in Decision Making of Business Management

Download file to see previous pages... Researchers emphasize on the fact that decision making is simply a rational process or ideology that takes place within any organization. Many studies however, fail to emphasize on the fact that taking a decision involves various stages where formulating a particular decision can take time and effort, and can have multiple variables involved as well. Theorists have developed mathematical models based on averages and probabilities through which alternatives can be evaluated before taking a final decision. These models have been utilized in several industries and in various areas in order to evaluate various alternatives at hand in order to make a decision. In this context, it must be noted that even though these models allow for rational decision making in a scenario where all other variables are constant, environment plays a critical role in how businesses take their decisions. For instance, organizations where dynamism is lacking and munificence is low, it may be noted that decisions may not be as rational as dictated by the mathematical models. ...
In this context, this research will particularly emphasize on some problems that are related to decision making within organizations, and evaluate why organizations face these particular problems at hand. In addition to that, the research will aim to identify various ways through which organizations can improve their decision making ability based on the answers ascertained through this research for the hypotheses formulated below. Sub-Problems in Decision Making of Business Management 1. The time and place to use programmed or non-programmed decision making is always a problem in business management. 2. Lack of dynamism affects the decision making and becomes a major problem in business management. 3. Lack of munificence negatively affects the ability of the managers to take risk. Thus affects the decision making in business management. Hypothesis Based on the fact that each organization requires a certain level of decision making at each layer within the hierarchy, following problems have been identified in general, pertaining to decision making: 1. Mathematical models for decision making are only useful when undertaking rational decision making. 2. Decision making will not be rational if dynamism within an organization is not present. 3. Risk taking within organizations is reduced when munificence is not present within organizations. This leads to lack of rational decision making at each step within the organization. These hypotheses will be tested within the research, after conducting a detailed primary and secondary research, including review of literature and conducting quantitative research as well. Literature Review Decision ...Download file to see next pagesRead More
Comments (0)
Click to create a comment
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
What are the problems faced by small convenience stores of UK in terms of surviving against the larger competitors and obtaining financing
This paper purports to explore the degree to competitive rivalry faced from the larger competitors and the steps which these stores owners have taken to minimize the rivalry; to explore their preferred sources of capital and operating financing; to explore the pre requisites of obtaining external financing and pros and cons associated with the same.
39 Pages(9750 words)Literature review
Data use in clinical and administrative decision making in health care ( nursing )
However there is much hope that these challenges will be overcome. Nurses remain the pioneers in integrating IT technology in health care sector, but it also presents them with some of the most challenging problems that can take place with the use of this technology.
8 Pages(2000 words)Literature review
Are Management Information Systems needed in youth work
Part of my role involves quality assurance and because of this my line manager has decided to give me overall responsibility of implementing the change required within the youth service. The way staff collates and record their work needs to be changed by using the new computerized information system.
15 Pages(3750 words)Literature review
International Human Resource Management
International joint ventures are very important for the growth, success and expantion of any organisation. They help in the following way: To gain knowledge and transfer the same To host government insistence To increase economies of scale To obtain vital raw materials To spread the risks To increase competitive advantage in the face of increasing globalisation To produce a cost effective and efficient response in the market The Joint Venture of Pancevo Brewery and the Eden Group The case cites the merger between Pancevo Brewery of Serbia and Eden Brewery of Eastern Europe.
8 Pages(2000 words)Literature review
Researching in Business Management
Generally the multinational organizations have several dimensions. This type of organizations can be viewed from several perspectives. A national organization that has expanded its business practices in several outside countries in order to achieve several advantages.
6 Pages(1500 words)Literature review
Business Management
Scholars have tried to define power as “the capacity to produce intended effects, and in particular, the ability to influence the behaviour of another person” (Dunbar and Burgoon, 2005). Power can reside in various forms in an organisation. These can be in the form of formal authority such as manager, power while controlling scarce resources, power in terms of hierarchy, organisational structures, rules and regulations, control of information, knowledge, boundaries and decision process and power given to the employees.
12 Pages(3000 words)Literature review
Business Management & Decision Making
irectly to consumers, low-cost airlines provide world-class customer satisfaction to flyers that value high frequency low-cost flights (Finkelstein, 2005). Strategies are usually based on internal competence that customers value enough to pay for and strategies cannot be easily
8 Pages(2000 words)Essay
The e-businesss decision making and the customers decision makings effect each other
The chapter touches upon various elements of decision making, eBusinesses and also customer decisions. Decision making is the process of resolving the problem or choosing among alternative opportunities. It also can be
20 Pages(5000 words)Literature review
STRATEGIC DECISION MAKING IN SAUDI ARABIA HIGHER EDUCATION SECTOR IN GLOBAL CONTEXT
in a global context and this therefore explains the necessity to have a nation take strategic decisions regarding the sensitive sector (Prince, 2006, p. 414-416). In this understanding, this section reviews literature on the factors that influence strategic decision making
8 Pages(2000 words)Literature review
Research for the Financial Risk Management Problems of Small and Medium-sized Enterprise in China
rocess through which investors and fund managers identify potential risks of their businesses and act in such a way that their business interests are safeguarded. Allen goes ahead to assert that the decision on whether to accept or take mitigation steps towards the potential
16 Pages(4000 words)Literature review
Let us find you another Literature review on topic Sub-Problems in Decision Making of Business Management for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us