Effective Decision Making: Company Approaches to decision making

Effective Decision Making focuses on modern approaches to decision making. This requires increased participation of stakeholders to ensure pro-activeness, commitment, and effectiveness of the decisions undertaken.

Effective Decision Making: Company Approaches to decision making

The unit will look at the different ways that decisions are taken by companies. Additionally, approaches to decision making, implementing decisions and the way in which knowledge can be used within organizations. With the growth of IT and customization, few decisions are straightforward enough for managers to rely on the answers that have been successful in past years.

To remain competitive, organizations need to develop decision-making processes that use all the current information and knowledge available in the workplace, workforce and beyond. Consequently, today’s decision making becomes more of a problem-solving process. In addition, increasing workforce empowerment and expectation means that the decision-making process for competitive organizations needs to be a much more participative process.

Otherwise, management will not gain the information and knowledge they need and will also lose the commitment to ensure decisions taken become effective. So, while the act of decision-taking effectively remains with the manager responsible. Also, The process of decision making needs to involve all the stakeholders within the managers’ immediate workplace and beyond. This ensures that the decision taken is owned by all who have to work with it.

The unit aims to equip the learner with the means to manage the process of decision-making rather than the outcome or decision itself. By recognizing methods of decision-making, the learner can stress the need for greater participation of stakeholders to ensure pro-activity and innovation.

Effective Decision Making: Company Approaches to decision making

Learning Outcomes

Assessment Criteria. Review relevant issues that are important in making business decisions. Also, Explore approaches to the decisionmaking process and how to improve the approach. Evaluate processes for obtaining relevant information on business issues for given organizations. Also, identify where any strengths or weaknesses in approach exists. Take decisions based upon the information gained, provide justifications and say how the decision should be disseminated. Make recommendations for improvements to the decision-making process and make sure it is relevant participation in the process

Detailed Instructions

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