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Decision Making:Personal Case Study Reflection - Essay Example

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This is a report about a decision making situation that I encountered when I deputized for my boss who was away on a short-term international assignment. This was a very trying time because the decision was taken prior to an emergency disaster which required us to take decisive…
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Decision Making:Personal Case Study Reflection
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Download file to see previous pages So the decision was based on how to fund the emergency disaster defense plan. This report examines the important tools and techniques that we used to examine the financing decision and how we arrived at a conclusion
The decision was meant to choose between different financing options to come up with a solution to the pending disaster, since the weather authorities had announced that the storm in question was meant to hit our premises in a couple of hours. This was clearly a non-routine and a multiple criteria decision making (Malkooti and Deviprosad, 2012)
Due to the fact that I was in a temporal position, I needed to come up with an all inclusive utility approach that would satisfy all the stakeholders (Rowley and Schneider, 2008). I had to follow the traditions and rules and consult all the four strategic business unit heads: Marketing, Finance & Accounting, Research and Development and Administration This had been the tradition for years and in this situation, I had to convene an emergency meeting and put the issues before them.
The issue was that we had to make a choice of funding the disaster protection system through money acquired either from the bank, working capital, third party financial institution or from some other source that could be identified. Ultimately, the decision rested on me as the acting CEO. Since the board could not be contacted in a short time to convene a decision, I had to decide and make the authorization in less than three hours.
The main stressor inherent in the decision making process was the need to balance flexibility with stability (Denison, Hooijberg, & Quinn, 1995). This is because we had to act and act immediately. And since I was the one ultimately responsible for any loss of asset and its subsequent negligence, I had the he power to decide without even consultation. However, the stability of the organization clearly depended on ...Download file to see next pagesRead More
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