Decision Making Process Paper - Essay Example

Management Decision-Making Process Decision-making is the act that involves choosing two or more s of action. It is crucial to note that it is not all the time that a person will be in a position to make the correct decisions based on the choices available for choosing. At times, people make decisions without considering the better choice or gathering enough information (Bateman & Snell, 2007). Therefore, a person has to make sure that there is a record of important decisions to make, or identify the right decision.

The one time in life I had to make a personal and professional decision was when I decided to change my job one year ago. Three years ago after graduating, I took an entry-level job because of the experience and skills I would gain. However, after two years and joining the full-time rank of employees, I got frustrated with my job because of the low pay, I was getting. I was spending more than what I was earning and wanted this to change. I decided that I wanted to quit my job and start a small business.

It was a critical decision that I had to make carefully because the economy today is extremely challenging and in most cases, such entry-level jobs are a luxury when jobs are so hard to come by even for graduates. In addition, like all new business, I was not sure if it would be successful or not. In such situations, most parents are not happy with such decisions, so I had to convince my parents, why the loan I borrowed from them, was not a waste of their hard-earned money.According to Bateman and Snell (2007), to make an effective decision, the first step is to identify and diagnose the problem.

I had to recognize the difference that existed between my current job state and the state that I desired. In the second stage, it is critical to generate an alternative solution. I decided that since the little amount I had saved was not enough to start the business, I would borrow my parents a loan. The third stage in decision-making is to evaluate the existing alternatives and the fourth stage is to make a choice. I was spending more than I was earning, therefore found it wiser to quit my job and start a business where I would get the opportunity to earn more than I spent.

The last stage in decision-making process involves implementing the decision (Bateman & Snell, 2007). I knew this stage of decision-making required careful planning, so I made all the preparations necessary when starting a new business such as getting a business license and used but efficient office equipment. Today, I am a proud owner of a small business enterprise that has employed 3 people and with high monthly returns.ReferenceBateman, T., & Snell, S. (2007). Management: Leading & collaborating in a competitive world.

New York: McGraw-Hill.