Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Generating Decision Alternatives - Essay Example

Comments (0) Cite this document
Business owners look for able managers instead of themselves to run the business for the sake of safe decisions. In most instances, decision making involving one’s market competitors needs a lot of…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.2% of users find it useful
Generating Decision Alternatives
Read TextPreview

Extract of sample "Generating Decision Alternatives"

Generating Decision Alternatives affiliation Generating Decision Alternatives A business depends on good decision makingin order to stay in the market. Business owners look for able managers instead of themselves to run the business for the sake of safe decisions. In most instances, decision making involving one’s market competitors needs a lot of deliberation, since it could easily lead to the collapse of one’s business. Collaboration with one’s competitors may be a long shot to have success which involves both high chances of winning and losing (Miller andTaylor, 2002).
In the case of GM and UAW versus Saturn, it was only a question of time prior to Saturn throw out of operation. Controlling a business means having control of the commodity one is supplying. In the case where one’s competitors are supplying your commodities, they can dictate the quality and quantity which is not good for business (Gilbert, Pinel, Wilson, Blumberg and Wheatley, 2002). GM barred Saturn from the access of new products in the market which lowered their income. The UAW then waged war on Saturn’s labor reforms which was intended to keep Saturn from spreading its tentacles to other GM factories (The Wall Street Journal, 2009). The UAW made Saturn agree to a contract which eliminated most of the work skills that only UAW members can perform.
This meant that Saturn comprised mostly of UAW members who with any gain for the company, they also aimed at benefiting. The UAW members were also assigned to all executives and managers of Saturn and hence they formed part of the decision making team. They were able to manipulate many decisions in their favor which killed the company gradually. With the harsh labor conditions and the harsh agreement on the supply of commodity, Saturn could no longer stay in the market. The leaders at Saturn had the assumption that procuring vehicles from GM would enable them to compete favorably with other related firms. This was not the case since GM was also their competitors and being the creators of the firm, GM had to find a way to kill is the competitor and partner.
The GM and UAW leaders could only be coaxed with the reasonable way of sharing profits. The Saturn leaders would also consider legal bindings, which may bar THE UAW from interfering in their business. To deal with the assumption above, the company needed to lure GM to deal which involved a high profit share. A share of about 60% and 40% or 70% and 30% would be enough to coax the GM leaders. This would give another income option to GM and they would do anything to keep their source of income in the market.
Using heuristics in a business is highly recommended, since it helps to come up with new ways of management. At the same time, it is a risky procedure because it is like investing in an unknown business venture. Techniques that can be used to overcome them include the using of tact which have been already been used and have been successful (Anissimov, 2004). If the technique cannot be embraced, the management should use the heuristic but find a way of reducing its risk in affecting decision making in the business. This can be done by involving all stakeholders and board members in the decision making process. Another option is the using of specialists in the field.
Anissimov, M. (2004). A Concise Introduction to Heuristics and Biases.  Retrieved from
Gilbert, D., Pinel, E., Wilson, T., Blumberg, S. and Wheatley, T. (2002). "Durability Bias in Affective Forecasting". In Heuristics and Biases. The Economics Working Paper. http: // fin/dice/papers/2004/2004-8.htm.
Miller, D., and Taylor, B. (2002). "Counterfactual Thought, Regret, and Superstition: How to Avoid Kicking Yourself." In T. Gilovich, D.W. & Griffin,& D. Kahneman (Eds). Heuristics and Biases. The psychology of Intuitive Judgment(pp.367-378). New York: Cambridge University Press.
The Wall Street Journal, Oct.9, 2009. Read More
Cite this document
  • APA
  • MLA
(“Generating Decision Alternatives Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Generating Decision Alternatives Essay Example | Topics and Well Written Essays - 500 words. Retrieved from
(Generating Decision Alternatives Essay Example | Topics and Well Written Essays - 500 Words)
Generating Decision Alternatives Essay Example | Topics and Well Written Essays - 500 Words.
“Generating Decision Alternatives Essay Example | Topics and Well Written Essays - 500 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Generating Decision Alternatives

Oil ALternatives

... and managing heavy manifestation of diseases requires huge financial allocations that may affect the entire world’s economy. Importantly, unhealthy and a poorly nourished population generally has low output. This means some of these fuel alternatives may significantly affect the world’s economy negatively by deteriorating the status of crucial actors who fuel the economy (Haller, Welch and Fulla 87). More research must be done on the various sources of fuel other than oil, in order to identify the most suitable and environmentally beneficial alternative. The future of the world’s development and status largely depends upon the management of fuels. The question of alternative fuels remains to be of significant importance and the development...
15 Pages(3750 words)Research Paper

Generating electricity

...? Generating electri Generating electri in Auckland Energy is a highly crucial aspect in the growth and development of the modern society. In its many forms, it enables us to perform a variety of activities like heating, lighting of homes, travelling, growing of crops and also undertaking business among others. Auckland and Northland are stupendous users of energy. However, the national grid has got ageing infrastructure and some parts of the whole network are heavily loaded. This has majorly been caused by the significant increase in demand for energy. On the other hand, Auckland’s energy is dependent on a number of distributed sources of energy. Most of the energy is generated in large power stations located too far from where the energy...
10 Pages(2500 words)Assignment

Creating a Decision Making Matrix for Four Restaurant Alternatives

...? Creating a Decision Making Matrix for four Restaurant Alternatives Background on decision matrix A decision matrix is a tool that makes it possible to solve problems through evaluation, rating and making comparison among different alternatives based on a multiple criteria approach. The decision matrix enables the decision maker or the manager to select the best solution based on the matching alternatives (Haimes, 2009). A decision matrix usually involves the evaluation of alternatives against the criteria weighed according to the importance attached to each criteria in the decision making process. Eventually, a two dimensional matrix is generated. Decision matrixes are common in procurement procedures where they are used to choose...
3 Pages(750 words)Essay

Management alternatives

...? Management Alternatives Management Alternatives Sirkin et al’s article about Change Management may have been short in length in tackling such a complex management topic such as change management but the population of their subjects which included 225 companies when the study was conducted was comprehensive. The management approach in change management shortly termed as DICE (project duration, particularly the time between project reviews; performance integrity, or the capabilities of project teams; the commitment of both senior executives and the staff whom the change will affect the most; and the additional effort that employees must make to cope with the change) also proved to be effective in dealing, managing and implementing change...
4 Pages(1000 words)Essay

Generating Theory from Practice

...? Generating theory from Practice Introduction Nursing is a profession in the health care sector, which takes care of individuals and families, so that they can maintain healthy and a quality life. Reflective-based practice initiates reflective thinking within the nurses, which signifies care by the nurses on the basis of individual care needs. Reflection within nursing context is represented as ‘art of nursing’, which involves “creativity and conscious self-evaluation over a period of time” (Jones & Bartlett, n.d.). Reflective-based practices assist nurses in mitigating unique situations. Wherein, Evidence based practice provides high quality patient care by the nurses based on research and knowledge, rather than on the basis...
12 Pages(3000 words)Essay

Generating Revenue in Healthcare

...Food program paper CELEBRATION IN STYLE: Many a time during the loss of a person, the family tends to have a rough time gettingthings together in order to give their loved one a deservedly powerful send off. This often tends to be hectic for the family and thus adds salt to their wounds. The food service department has taken this consideration and as a result have seen it good enough to step in and help with the duties that otherwise could not be done by the family due to the pain and thoughts of the loss that they have incurred. The food department has thus set up a program that will help re enforce the family in giving their loved one a good send off. This is achieved by offering of services that otherwise cannot be offered...
3 Pages(750 words)Assignment

Generating forecasts

... January 5, Generation of Statistics-based Forecasts Introduction Statistics helps decision makers generate more informed decisions (Johnson, 2010). Informed decision is grounded on realistic factors. Realistic factors include all independent factors. Each independent factor separately affects the outcome of the future dependent factor’s predictions. The independent factor is often classified as variable X. The rule of thumb is that increase in some independent factors may directly lead to the increase in the dependent variable outputs (variable Y). For example, an increase in the salaries of people will lead to more sales. Since the current and future customers have more money to buy the company’s goods and services, it is possible...
8 Pages(2000 words)Essay

Policy Alternatives

...Policy alternative. affiliation Policy Alternative in regard to Health benefits of the Military. Defense department in the US plays a crucial role in the security of the country and the world. Despite this role, it has cost the United States much money to protect the troops in terms of health care and retirement benefits (, 2011). Due to this high expenses to the state, the Pentagon are looking for a method of implementing a strategy that can help them cut down the budget of the defense department. According to the defense secretary, Leon Panetta, finding an amicable solution is a hard task to accomplish. There were some budget proposals and resolutions that were put in place which impacted military retirement benefits. Due...
2 Pages(500 words)Essay

Division Courts Decision

Justice Act in the commencement of ss 108 to 117 and Schs 6 and 7 and the lawfulness of the Secretary’s Act in failing to fully implement its provisions. The second issue concerned the question of whether the Secretary had been guilty of an unlawful Act by exercising his prerogative and implementing a non-statutory tariff scheme when ss 108 to 117 represented the will of Parliament in regard to compensation for victims of criminal injuries, and whether he had thus breached his common law powers.

3(a) In 1988, a new non-statutory Criminal Injuries Compensation Scheme was set out under ss 108 to 117, 6 and 7 of the Criminal Justice Act of 1988. According to this scheme compensation for victims was calculated on a ba...
20 Pages(5000 words)Case Study

How Does Branding Affect Buyers Purchase Decision

The scope of the study covers all kinds of buyers with different behaviours making buying decisions with regard to different brands. There is also a detailed study of the Consumer Decision Process. There is a good enough introduction on consumer buying process besides an extended and detailed introduction on Branding and Marketing emphasizing the difference between the two and how the concepts are different from each and in what way there can be a delineation between the two. There is an explanation on the different stages of Consumer Buying Behaviour, namely Need Awareness, Information Search, Checking Options, Purchase Decision, and Post Purchase Behaviour. There is also a detailed explanation on Types of Consumer Buying Behavio...
44 Pages(11000 words)Research Paper

Is Reflective Practice Essential For Generating the Theory That Will Advance the Discipline of Nursing

From the integration of practitioners’ personal knowledge, valid disciplinary knowledge and theories are developed. Critical thinking and reflection on various nursing practices help to generate new theories. The theories are again used in nursing practice for solving problems and for determining procedures in future cases.

The concept of the theory is defined by Higgins; Moore (2000: p.179) as the creation of relationships among two or more concepts to form a specific view of a phenomenon. As constructions of our minds, theories provide explanations about our experiences of phenomena in the world. The understanding provided by theories is of two types: explanatory or predictive. In nursing, theoretical thinking u...
15 Pages(3750 words)Case Study

Decision Making For Management - Linearity of Variable Costs within the Relevant Range

Keeping aside the fixed costs which have to be borne irrespective of the sales revenue, the remaining costs which are directly proportional to units sold can be minimized to manage cash flows in a better way. They can cut on their variable costs by having a look at the contribution margins of their company and their products.

The contribution of sales to before-tax profits, or gross profits, over and above the break-even is exactly the contribution margin as there are no fixed costs any more. The amount after the deduction of variable costs from the revenues will be added to the profits.

CVP graphs help the manager and the reader to have a better figure of the relationship between the profits, sales and volum...
7 Pages(1750 words)Assignment

Effect of Taxation on the Investment Decision in Firms

... country can ensure large availability of vital foreign funds and investments and therefore give a boost to the economy. The government dishes out sops to specific sectors and fulfills its task of generating enough growth in high risk sectors. The investment decision of firms depends upon various factors like the political will and stability, the infrastructure and the tax regime. The taxes levied on corporate investments also have a direct bearing on the profitability of these firms; hence they become a vital factor while taking any investment decisions. This therefore makes tax rates an important instrument with governments who manipulate it to ensure economic growth of a country. This paper examines the effect of taxes on investment...
6 Pages(1500 words)Research Paper

Decision Making in Health and Social Care

... (Jensen and Meckling, 1976). In the health and social care industry this becomes more complex because insurance companies come into the picture as a third party. If, as the above explanation to the principals versus agents theory shows, agents behave in a manner that reduces transparency and increases risk to the principals or shareholders what would be the alternative in caring for those who are uninsured or lack adequate funds for health care? In a health care organization this is apparently the relationship between the hospital staff including paid managers and the shareholders. Decisions taken by managers to increase efficiency and profitability would negate the desires of customers but would benefit shareholders. Apparently...
8 Pages(2000 words)Case Study

Consumer Decision Making Process

..., there is a generality in behavior especially when it comes to decision making purchasing. This is the reason that makes it possible to attract the attention of many consumers with a single marketing strategy such as advertisement or attractive packaging and display. However, consumers usually tend to be predisposed towards tangible offers. There are several models that are used by marketers to identify the aspects of decision making process. This essay is a critical analysis of the aspects of the consumer decision making process and an evaluation of how they are changing as consumers consumption patterns evolve. Aspects of Consumer Decision Making Process Need Identification It begins with consumers identifying their needs whereby...
8 Pages(2000 words)Term Paper

Baytree Plc - Revenue Generating Project

.... Intends to develop a new Motorway Services Area (MSA) in the north of England. The proposed new MSA will be located on the M7 motorway in an area of outstanding natural beauty at Salteroyd in the county of Yorkshire. The site is also in an area of Special Scientific Interest (SSI). Market research conducted by PWF management consultants has suggested that as a result of the climate change agenda and the drive to reduce CO2 emissions, in the coming years consumers will become more selective in their buying decisions. In the context of construction and property, PWF forecast that significantly increased revenues are likely to be generated by more environmentally responsible developments and developers. As a consequence, Baytree’s...
25 Pages(6250 words)Research Paper

Decision Making and Problem Solving Skills

The Emerald article Developing Competent Managers, written by Tom Kilcourse argued that competences of managers are specific to organizational culture, and the individual needs to develop in parallel with the organization (Kilcourse, 1994). Decision Problem Solving, Interpersonal Skills, Performance Management, Personal Organisation, Stress Management, etc are generally accepted as the necessary skills for a competent manager. This paper is focussing only on the decision making and problem-solving skills of a manager in order to analyze the competencies of a manager.

Management is a process that requires rapid decision-making abilities. Logical and effective decisions making abilities are essential for an effective mana...
5 Pages(1250 words)Assignment

Strategic Management Systems in the Decision Making of an Organization

He will change his brand as soon as he realizes that his needs might be catered in a better way by some other brand. This creates the need for efficient planning tools and updated information.
An important aspect here is that the management system should work in accordance with the vision of the organization. It is only one of the reasons for the failure of a system. There are several more causes that shall be investigated.
It shall be investigated as to how strategic management systems assist in identifying the strengths and weaknesses of a company (Hitt 2009). It gives the company an opportunity to make their products and services better for their customers.
Strategic management systems can be defined as the proce...
10 Pages(2500 words)Assignment

Selective Perception and Decision Making

Some people make take sound and quick decisions while they are facing severe problems whereas some others fail to make good decisions while they face even smaller problems. Various parameters can control our decision-making abilities.

Perception is the way that people organize and interpret everything around them in order to give meaning to experiences. The definition of perception does not change but each individual’s perception of experience can be different. There are many things that influence a person’s perception. Personal beliefs, attitudes, and past experiences can change the way a situation is perceived. Situational awareness also factor’s into perception. What might be normal in one situati...
7 Pages(1750 words)Research Paper

Generating Electricity from Garbage

Take your paper to the writing resource center in Odegaard library for even more help in editing.
The changing lifestyle of modern consumers has influenced their consumption habits. A huge amount of waste is generated throughout the world, which has caused major problems in the maintenance of environmental balance. Converting waste products into energy is a very innovative process in electricity and heat generations. This is a process of energy recovery. Conversion of waste to energy includes the burning of residential, commercial and hazardous waste including plastics, paper, food scraps, and metals. Renewable energy has a significant role as an alternative source of fossil fuel in the United States. The combustion of organ...
14 Pages(3500 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 Generating Decision Alternatives for FREE!

Contact Us