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MANA7A49 Managerial Decision Making

Published : 01-Oct,2021  |  Views : 10

Question:

Description of paper is on the 1st page included in this is front and back.. I could not copy it 2sided so the 1st attachment is the front and the 2nd is the back... also there are 3 articles
 
1. Would you pull the trolley switch? Dose it matter?
 
2. Managing yourself: how to tackle your Toughest Decisions?
 
3. Knowing When to pull the plug.

Answer:

Knowing when to pull the plug

One thing about decision making is that there are consequences at all costs, either positive or negative. Another issue is that for managers to implement something new, some individuals will oppose the idea and those that support it. All narrows down to the courage that the manager has to handle all pressure that comes with the intended changes. One sure answer is that I Would pull the plug, this is because either the implemented change is done or not done. The manager bears the blame, in the same case where the company does not change with the environmental changes taking place in the sector the manager is to blame too. The importance of pulling the plug is that it builds one character and image as a manager, which is measured by the changes brought in company or organization. So as to attain this one notes all the possible outcomes, the kind of escalation after, and the kind of resources available to implement the changes (Ford, & Richardson, (2013).

Managing yourself: how to tackle your Toughest Decisions

Everyone faces tough decisions, and for managers, this is even a bigger challenge to maintain. So as to control the situation, one question is to understand what are the consequences that will follow the decision and their effect on the business. After which one analyses their main obligation, and the mandate that one has over the decision, also at this point one is evaluating what you would like done by another person if the decision involves you. By this, one seeks advice from the people that will be affected by the decision without clearly explaining the problem to them. After documenting the consequences and recommendations. The other question is what is the current environment needing or is doing? It is achieved by determining the resources available, the changes in the current world, what customers or clients require at the present stage and the legal requirements. The answer is not based on how you would like things to happen but how the world is functioning (Laureiro, et al.  (2015).

Later one values the customs, norms, culture and what matters most the company or individuals .where one evaluates the history of how things have been done before, the kind of risk measures taken and the image of the organization for the long run.  With all the compiled recommendations one has made, you chose the best option from considered recommendations and implement the decision (Shadlen, et al. (2016).

Would you pull the trolley switch? Does it matter?

According to Gratton, (2014), the trolley problem is mostly a two-sided problem where no matter what there must be casualties.  The answer is, I would pull the trolley, this will be done to help or reduce the damage impending.  The move matters a lot as for one the guilty conciseness is a bit free knowing that you did the best possible thing that you would have done given another chance in the same situation. The other importance is that it reduces the blame from people’s eyes toward you because of the effort take rather than not doing anything at all.

References

Ford, R. C., & Richardson, W. D. (2013). Ethical decision making: A review of the empirical literature. In Citation Classics from the Journal of Business Ethics (pp. 19-44). Springer Netherlands.

Laureiro?Martínez, D., Brusoni, S., Canessa, N., & Zollo, M. (2015). Understanding the exploration–exploitation dilemma: An fMRI study of attention control and decision?making performance. Strategic Management Journal, 36(3), 319-338.

Shadlen, M. N., Kiani, R., Newsome, W. T., Gold, J. I., Wolpert, D. M., Zylberberg, A., ... & Roitman, J. (2016). Comment on “Single-trial spike trains in parietal cortex reveal discrete steps during decision-making.” Science, 351(6280), 1406-1406.

Gratton, L. (2014). The Key: How Corporations Succeed by Solving the World's Toughest Problems. McGraw-Hill Education.

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