Tuesday, October 8, 2019

Making the Decision Research Paper Example | Topics and Well Written Essays - 250 words

Making the Decision - Research Paper Example Therefore, this approach can be leveraged to enhance the managerial staff. In most organizations, the managers make difficult decisions regarding the finance department. Therefore, the analytical approach is quite efficient in solving the financial predicaments. Research asserts that managers who employ the analytical technique always arrive at the best alternatives and solutions (Nowduri, 2010). Research asserts that team projects are common in the contemporary business world. There are several decision-making strategies that can be employed in team-decision making. Team leaders should ensure maximum participation during the decision-making procedure. Voting can also be employed especially when there are several conflicting opinions amongst the members of the team. Furthermore, the team leader can also use other anonymous contributions in order to ensure that the decisions made are from experts. The leader of the team can also establish group priorities, which help the team in selecting the best options from various alternatives. These decision-making strategies are quite useful in the decision-making procedure (Lunenburg, 2010). Geogr, E. (2012). Managing communities and managing knowledge: Strategic decision making and store network investment within retail multinationals. Journal of Economic Geography, 12(2), 539-565. doi:10.1093/jeg/lbr038 Lunenburg, F. C. (2010). Group decision making: The potential for groupthink. International Journal of Management, Business, and Administration, 13(1), 1-5. Retrieved from http://www.nationalforum.com/Electronic%20Journal%20Volumes/Lunenburg,%20Fred%20C.%20Group%20Decision%20Making%20IJMBA%20V13%20N1%202010.pdf Nowduri, S. (2010). Management information systems and business decision making: Review, analysis, and recommendations. Journal of Management and Marketing Research. Retrieved

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