It started on a slow pace and showed stunted growth and little chances of success for the first six months. In fact, the proprietor thought of closing it down during its seventh month of existence. That was the moment I appeared in the scene and was assigned the duty of marketing the coffee shop. Within a period of two months, changes became apparent. I lured classmates and more clients streamed in. By the end of my summer vacation, the proprietor reported supernormal profits. It is for this reason that the business owner honored me with the task to decide the future of the business. Following its success over the past two years, it has accumulated enough savings to either open a new branch or diversify its range of products on the single business unit he currently owns. Over the prosperous period of time, the business’ profits margin increased steadily from 23% to 32%, then 53%, 109% and finally 86% after periods of 5 months. Having reached its break even period, the business has accumulated enough money to diversify the range of products on offer in the same premises or to acquire other premises and have another branch of the same product range offered presently. Research Making this decision was an uphill task. The future of the enterprise depended on me and I was determined to prove my worth and give a viable solution.
People enjoy certain degrees of discretion in revising, planning and implementing decisions. This means that individuals must engage in decision-making processes. Models proposed by various scholars govern these processes. The decision-making models have the following characteristics of rationality, values, facts, means, and end (Milkman, Chugh, & Bazerman, 2008).
Is a possibility that my flight will be canceled some point during the trip due to snowy weather? If my flight is a canceled airline, I chose does not have to put me on standby. The airline does not have to put me up in a hotel, and purchase my dinner. My problem is a flight to, Switzerland cost more than $2000.
Culture is “a socially constructed idea,” Sinclair and Robertson-Smith (2008, p. 12) say, distinguishing a particular human group from another (Hofstede, 2007, p. 413). Thus culture spells out differences rather than commonalities, making the cultural frame of reference in decision-making for managers of multi-cultural teams very important, because culture influences people’s way of thinking and behaving (DiStefano & Maznevski, 2000, p.
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.
Certain ailments like osteoarthritis (OA) also lead to the malfunctioning of the quadriceps, which in long term result in reduced mobility and increased socio-economic burden. In majority of the cases relief is sought by taking simple analgesia drugs or non-steroidal anti-inflammatory drugs in order get rid of the pain generated during this period (McAlindon et al, 1993).
[Note: Conditional profit = Profit from selling one unit * number of units of hamburgers sold – Loss from one unsold hamburger * (number of units of hamburgers prepared – number of units of hamburgers sold).
Now the restaurant chain is contemplating on taking the help of
So, there is a basic introduction to the topic where a simple knowledge regarding the decision making process has been formulated. An elaborate discussion has been made under the analysis section where the problems of supply chain
6 pages (1500 words)Research Paper
Cite this document
(“A Decision of Uncertainty Research Paper Example | Topics and Well Written Essays - 500 words”, n.d.)
A Decision of Uncertainty Research Paper Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/statistics/1480369-a-decision-of-uncertainty
(A Decision of Uncertainty Research Paper Example | Topics and Well Written Essays - 500 Words)
A Decision of Uncertainty Research Paper Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/statistics/1480369-a-decision-of-uncertainty.
“A Decision of Uncertainty Research Paper Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/statistics/1480369-a-decision-of-uncertainty.
Cited: 0 times
The last financial year was a rather successful time for the enterprise I work for part time. It is a new business enterprise that has been in existence for three years. It deals with service of coffee and coffee products. …