Managerial Decision Making SA - Case Study Example

Managerial Decision Making With the increasing levels of globalization, the level of competition has been increased tremendously in the market. Both the internal and external market are affected often an aspect that require critical decisions to be made frequently. In order to make well informed decisions, the managers need to receive information from different stakeholders. The decisions should be given a thought and discussed by all those who will be affected them. As a result, it becomes very easy to implement decisions (Bazerman & Moore 2013).

Before a decision is made all pros and cons must be weighed in order to determine the impact of the decision to the organization. This plays a great role in reducing loses that might emanate from negative impacts. Communication is the key towards making rational decisions as different individuals are able to view a certain situation in different perspective an aspect that makes it easy to understand the weaknesses associated with making a specific decision (Bazerman & Moore 2013).The main aim of making critical decisions in business is to maximize profits and minimize risks.

As a result, it’s important not to make quick decisions which are not well thought of as this might leave loopholes for the competitors to use against the business or organizations (Bazerman & Moore 2013).In conclusion, I believe that the model can be used in making decisions but other aspects should be incorporated because every challenge that faces an organization is unique in nature. As a result, this can be used as a platform for making decisions but other models should also be taken into consideration.

ReferencesBazerman, M. H., & Moore, D. A. (2013). Judgment in managerial decision making. New York: Wiley.