Understanding the best approaches to the decision-making process, will make me a stronger manager and a more effective leader.

Deliverable Length: 250 words (minimum) per reply

 

ONE:

Understanding the best approaches to the decision-making process, will make me a stronger manager and a more effective leader.  The knowledge that I gather in this course will help me hone my research, analytics, and critical thinking skills so that I can proactively assess business problems and develop resolutions.  Implementing the decision-making techniques that I will study during this course will give me the confidence needed to overcome personal biases and emotions.  I will be better equipped to justify my reasoning while adhering to the ethical standards of my organization.

The most successful managers are strategic thinkers that research the industry before making decisions that will impact the business (Carmichael, 2020).  Strong leaders contemplate the organization’s mission and vision statements to develop insight on the competitive advantage.  The company’s mission describes the purpose of the business, while the vision encompasses what they plan to achieve in the future (SHRM.org, 2018).  When the leader understands the business, they can create a strategy to focus the business assets on achieving or maintaining a competitive advantage.

Strategy is a detailed plan created by the company’s leaders to achieve the business objectives. The strategy plan deploys resources on a specific timeline to accomplish goals like bringing products to market, increasing profits, and improving customer service.   All employees and business partners know the strategy and work to implement the plan through specific tasks and by meeting milestones.  Leaders are responsible for the decision-making needed to ensure the strategy meets expectations and yields the desired results.

References

Carmichael, S. (2020). Three Strategies for Authentic Decision-Making Leaders.  Retrieved from https://www.forbes.com/sites/

forbescoachescouncil/2020/10/21/three-strategies-for-authentic-decision-making-leaders/?sh=6dbbfedf31fd

 

SHRM.org. (2018).  Mission & Vision Statements: What is the difference between mission, vision and values statements?  Retrieved from

https://www.shrm.org/resourcesandtools/tools-and-samples/hr-qa/pages/isthereadifferencebetweenacompany%E2%80%99smission,

visionandvaluestatements.aspx

TWO:

The course objectives are as follows:

· Appraise the roles of emotion and fairness in decision making.

· Assess common biases in decision making.

· Assess situations that present potential legal and ethical issues and develop solutions for those issues

· Construct quantitative and qualitative research to analyze business cases

· Evaluate business situations using critical thinking skills

· Examine the opportunities provided by technology for businesses.

· Interpret reflective and expedient decision making.

· Justify the role of decision making in business

· Propose effective communication techniques.

In the objectives listed above the main objectives that stick out to me are Assess common biases in decision making, Assess situations that present potential legal and ethical issues, and develop solutions for those issues, Evaluate business situations using critical thinking skills, and Evaluate business situations using critical thinking skills. The listed objectives will ensure that I will not make any unethical decisions that may violate someone’s Equal Opportunity Rights. This will also ensure that no legal actions will not be taken against me or the business that I am employed with.

In addition, the objectives will assist in communicating pertinent information up and down my chain of command. I will also polish my delegating skills down to my subordinates. Also, identifying common biases will assist me in making a sound decision and not making a decision of the facts that is “How it has always been.”  Critical thinking skills will always save time and money; it can be advantageous to the company and me.

How is strategy different from an organization’s vision and mission?

An organization’s vision and mission is the foundation of the company “What we are here for” while the strategy is how do we get there. In order to meet the vision and mission of an organization, strategic planning is vital to accomplishing the vision and mission.

The strategic planning model has four steps: assessments; strategy formulation; implementation of the plan; and evaluation of the results.  Explain how this model along with strategic analysis is used to identify and assess an organization’s micro and macro environment.

1. Assessment: Is the development of the plan.

2. Communication/formulation: Sharing the plan.

3. Implementation: Executing the plan.

4. Evaluation: Assessing the plan and following up.

 

How are strategic planning and the analysis process used to facilitate an organization’s ability to initiate, formulate, and implement strategies?

It is also vital to evaluate the macro and micro environments that a firm may be confronted with, such as the economy and its opponents. The environment drastically influences the decisions an organization may make, and consequently, the organization must be constantly evaluated.

THREE:

Accomplishing the objectives of this course will greatly enhance my management success by giving the tools necessary to apply critical research in order to make the most informed business solutions/decisions. This course will help me gain a better understanding of how emotions and biases affect decision making in order to come to a fair solution or decision. Also covered will be the legal and ethical issues faced in business and how best to mitigate them. The research techniques used will also give me the ability to use quantitative and qualitative data to help analyze different business situations. Finally, covering how technology has made an impact on businesses. The biggest hurdle or challenge of not mastering these objectives is a manager who is not equipped to make critically informed decisions or solutions.   An organization’s vision statement is how or where the company hopes to be in the future. This is their goal or goals for the future and the position they are wanting the company to be at. Their mission statement is stating who and what they are, along with the company’s objectives. Strategy is different from vision and mission statements because it is a plan of action. The strategy of a company is how they are going to reach their future goals or vision statement and accomplish their mission statement.

"Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET15 to claim 15% Discount This Month!!":

Get started
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *