Managerial Decision Making - Assignment Example

Comments (0) Cite this document
Summary
 This assignment "Managerial Decision Making" discusses the issues that could be involved in a negotiation of the use of nuclear power between the USA and Iran. The assignment analyses cognitive mistakes of the negotiators in this case. The assignment focuses on an acceptable agreement…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94% of users find it useful
Managerial Decision Making
Read TextPreview

Extract of sample "Managerial Decision Making"

Download file to see previous pages Despite the enormous pressures through sanctions and other measures by the US and its allies, Iran has held ground that it will not stop its nuclear programs. After many rounds of negotiations, it is clear that the US cannot achieve its goal of convincing Iran to stop its nuclear programs and hence this stalemate will have to be addressed by approaching the negotiation table using other approaches. In a stalemate negotiation, the issues of concern must shift from hard-line positions to new ones, which will ensure that the fears of each group are met and addressed. In this case, the solution shifts from a competitive approach where each group wants to win, to a new approach where each group wins, that is, a win-win solution (Bazerman & Moore, 2009). In these negotiations, the issues always boil down to the US wanting to reduce Iran’s nuclear infrastructure and Iran seeking to maintain them, which leads to a stalemate at the end. In such a negotiation, it is important to identify the issues of agreement between the two parties, then the issues of contention and hence decide where to compromise and also where necessary come up with new solutions discussed together on the table. Further, the two groups must now frame the agendas of the negotiations in a more promising way. Like in any negotiation, cognitive mistakes can happen in such a negotiation. Such mistakes include irrational escalation of commitment, self –serving biases, negotiator overconfidence and issues, and problem framing. To avoid irrational escalation of commitment, it is important to have an external advisor, who warns the group when they start acting irrationally when in the heat of the negotiations. In addition, to self-serving biases, it is important for negotiators to listen to others and consider their motivations for their positions in the process (Foreman & Selly, 2001).   ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Managerial Decision Making Assignment Example | Topics and Well Written Essays - 1750 words, n.d.)
Managerial Decision Making Assignment Example | Topics and Well Written Essays - 1750 words. Retrieved from https://studentshare.org/management/1653725-managerial-decision-making-essay-6
(Managerial Decision Making Assignment Example | Topics and Well Written Essays - 1750 Words)
Managerial Decision Making Assignment Example | Topics and Well Written Essays - 1750 Words. https://studentshare.org/management/1653725-managerial-decision-making-essay-6.
“Managerial Decision Making Assignment Example | Topics and Well Written Essays - 1750 Words”, n.d. https://studentshare.org/management/1653725-managerial-decision-making-essay-6.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Managerial Decision Making

Managerial decision making process

...?Running Heading: Managerial Decision Making Process Managerial Decision Making Process CRITERIA for performance appraisal of an individual Performance evaluation is an important task in any organization because by evaluating the performance the productivity level of an individual is measured. Promotion, salary packages, increment in compensation and growth of the individual are also based on the performance evaluation therefore organization must ensure that they have proper performance evaluation method that considers important characteristics and traits of the individual so that right candidate is promoted and get his reward of hard...
7 Pages(1750 words)Essay

Managerial Decision Making

...?   Unit Managerial Decision Making Discussion Board Question of the of the Unit Managerial Decision Making Discussion Board Question Introduction We go through life making a number of decisions every day. Some of them are considered routine and ordinary, such as deciding the attire we will wear for work from day to day-while others are life changing and could affect our future in very definite ways. As an accountant for Denmark Technical College, I have recently made a number of professional decisions that have had an impact on the working and operations of this institution. Through this...
5 Pages(1250 words)Essay

Managerial Decision Making

...? Managerial Decision Making The paper discusses the various techniques of managerial decision making; programmed, non-programmed, and risk-based decisions. The paper begins with an introduction of managerial decision making and how programmed and non-programmed decision making techniques are used in making decisions. The paper discusses in detail programmed and non-programmed decision making; highlighting the features of these two techniques. Lastly, the paper discusses the risk-based decision making with reference to risk management. The relationship between risk management, programmed, and non-programmed decision making is also presented in the paper. Managerial Decision Making Decision making is the procedure of identifying... of an...
3 Pages(750 words)Research Paper

Managerial Decision Making

...Managerial Decision Making Introduction Management decision making will be based on the objectives of the company. Objectives themselves will depend on the individual perceptions of every stake holder. It is, therefore, pertinent that all the stake holders to any complex problem are consulted and the objectives fixed before going on for making analysis. In the case of a marketing decision, the objectives are mostly profit centered though there is always a possibility that decisions are made based on the long term profitability of the company. Secondly, most of the problems need to be broken down into...
12 Pages(3000 words)Essay

Managerial Decision Making

...Running Head: Managerial Decision MakingManagerial Decision Making Problem Definition In USA World Bank, the problem is to identify the factors affecting the launch of new product while considering the need to launch this new product, is there any need or not, the research should provide information on the following questions. Who are our target audience and why? What are the features of our product that audience would get attracted toward? What are the main links that are important for our product to be successful? What are the strengths and weaknesses of our bank on for which customer would be attracted towards us? How and from...
6 Pages(1500 words)Term Paper

Managerial Decision Making

...products among the international customers. The Problem The problem faced by our organization was the prospect of huge loss in our international market as our decision to expand offshore was more of an intuitive one, rather than one being based on a rational decision making process (Thagard P., 2001). We took the success that our products had achieved within the US in terms of popularity and marketability for granted with enough evidence of customer acceptance, backed by our strict quality control division. These factors mislead us to believe that we could achieve similar results abroad, without considering the peculiar cultural, geographical and market practices in foreign countries....
2 Pages(500 words)Essay

Managerial Decision Making

...Managerial Decision Making Introductory note: This paper seeks to delineate impact of good decision making upon growth and well being of corporate organizations in this country. At a higher level, it evaluates the keen thought processes involved in crucial decision making especially when the result of the project is dependent upon business acumen and perspicacity of use of effective accounting package resources like SAP. ” That’s why SAP offers a portfolio of integrated business management solutions tailored to the diverse needs of a company like yours.” (Try our best-fit solution adviser tool today, n.d, para.1). 1.1....
2 Pages(500 words)Assignment

Managerial Decision Making

...First Last NUMBER Managing the Three R’s Power obviously is a pervasive variable in the managerial process of all modern-day organizations.(Kanter, 1979) Managers regularly acquire and utilize power to achieve specific work results and to strengthen their own personal position within the organization. Logically, it can be rationalized that every interaction and every social relationship in an organization involves some direct exercise of power. The process of how power is utilized in most organizations can best be summed up by the three R’s of management: retribution, reciprocity, and reason.(Schermerhorn, 1985) Retribution: The first R is by far the most detrimental; the managerial application of...
1 Pages(250 words)Essay

Managerial Decision Making

...Managerial Decision Making Managerial Decision Making The most important single manageable factor for success and profitability of all the facets of specialty store retailing is employee motivation. It is too vital to be handled on a hit or miss basis, depending on the whim or spirit that stirs the store owner or manager from time to time. To be effective, employee motivation must be promoted on a day-to-day, month-to-month basis.  It is a function that can and will pay enormous dividends. There are almost as many effective ways of motivating employees as there are ways of enticing customers into your store.  Of course, there are also...
2 Pages(500 words)Essay

Managerial Decision-Making

...Managerial Decision-Making People who have to make decisions at all levels direct organizations. The manager has to plan, organize, control, staff and lead the organization towards meeting the goals and objectives of the organization. In their article, Ticha, Hron and Fiedler (2010) opine that the cognitive processes managers undergo during the making of any decisions allow them to select from a myriad of options and choose those that relate to the business industry. They state that the complexity of any situation will lower the predictability and stability of the decisions made due to the various steps...
1 Pages(250 words)Article
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 Assignment on topic Managerial Decision Making for FREE!

Contact Us