Decision Making An Integral Part Of Management - 1566 Words

I. Introduction Decision-making is an integral part of management and the need to make all kinds of decisions – from strategic development and use of resources to employees motivation and control of all processes – are the fundamental aspects of the management process and influences company s activities and results. Every decision has to be made rationally and objectively with consideration of all possible alternatives. However, in real life due to many reasons it is not always possible to go through the whole decision-making process and some stages of it are ignored or decisions made are based on intuition. That is not always wrong, but in some cases can cause serious issues. â€Å"Helping Hands† is a non-profit charity organization with 10 employees and 20 volunteers, that had steady growth for 5 years and recently became even more busy, as during the last 6 months due to economic downturn more people needed help. The owner of the company was no longer able to manage daily activities, as she was busy negotiating with other organizations, so she decided to change the structure of the company and promote one of the best employees to newly created management position. However, that resulted in the conflict between employees and complaints from volunteers, who felt stressed and unmotivated to work. Now the key challenge is to make a decision how to approach this issue, fix the conflict between employees and prevent volunteers from leaving or disrupting company s daily activities.Show MoreRelatedImportance of Managerial Accounting1005 Words   |  5 PagesIntroduction The purpose of management accounting in the organization is to support competitive decision making by collecting, processing, and communicating information that helps management plan, control, and evaluate business processes and company strategy. 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ISO 31000:2009 can be brought in application for the whole life span of an organization, and to a broad area of activities, which covers plans and strategies, decision making processes, specific functions, product and services etc. ThisRead MoreOnce Inventory Is Stratified as a, B, C, D, X and Y Items, the Classification Aids in Making Several Business Decisions. How Does Inventory Stratification Influence941 Words   |  4 Pagesinventory is stratified as A, B, C, D, X and Y items, the classification aids in making several business decisions. How does inventory stratification influence i. Supplier Management? ii. Inventory Management? iii. Customer Management? iv. Warehouse Management? v. Sales Management? vi. Pricing Management? vii. Marketing Management? viii. Reinvestment Decisions? Creating shareholder value is the ultimate goal of all businesses, so all processesRead MoreHow High Performance Work Systems ( Hpws ) Mean And Does It Have An Impact On The Performance Of1532 Words   |  7 Pagesdesigned to augment employee’s skills, productivity, and commitment in a way that they become a source of competitive advantage. However, there are many definitions about HPWS. The terms used to describe HPWS are ‘high commitment management’, ‘high involvement management’, ‘flexible work practices’ and ‘flexible production system’. HPWS are also known as systems of managerial practices which augment empowerment of employees and enhance the skills. The incentives in turn help them to motivate and takeRead MoreInformation Security Awareness Programs : An Integral Part Of Security Management871 Words   |  4 Pagesinformation security and privacy. Information security awareness programs also helps address the problems related to regulatory compliance like FISMA, HIPAA etc. Over the years, information security awareness programs have become an integral part of security management. Therefore, it is imperative for organizations to adopt a security awareness program that will ensure that its employees are conscious and aware of the importance of safeguarding organization’s sensitive and critical information, educatingRead MoreGeneral Guidelines And Rules On Risk Management1620 Words   |  7 PagesSO 31000:2009 explains the general guidelines and rules on risk management. These guidelines are used by associa tions, companies, organisations, private, communities, public and groups or individuals. Hence, ISO 31000:2009 does not limit to any particular industry. ISO 31000:2009 can be brought in application for the whole life span of an organization, and to a broad area of activities, which covers plans and strategies, decision making processes, specific functions, product and services etc. This