...Decision Making Process Ashley Lopez MGT 230 University of Phoenix September 26th, 2013 The decision making process used by the student is one which focuses on the pros and cons of the decision needed to be made and potential consequences of the decision whether they are positive or negative. When purchasing a new vehicle the student had to base her decision on the financial obligations it would take in order to be able to afford the new car and whether or not it would take from other financial obligations she already had. The first process in the student’s decision making process was to identify the pros and cons of purchasing a new car. the pros were that the student would have better and more reliable transportation than her current vehicle, the costs of repairing her current vehicle would decrease to none because the vehicle would be new and the potential for the vehicle to break was slim to none, the new vehicle would have more space and a warranty as well. The cons of purchasing a new vehicle for the student was that the new vehicle’s payments would be more than her current vehicle which meant less money for luxury items and the increase in cost of insurance for the new vehicle. The pros clearly outweighed the cons in this matter. The second step was to determine which vehicle would be most suitable for the student and hr child. Once the student chose the vehicle she wanted, she then searched the area for the best deal, although not sacrificing quality for price...
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...Functions of management MGT/230 Week 1 Functions of management Management, or the successful operation of a business or organization, can be simply described as the implementation of processes and procedures in order to solve problems in a productive and resourceful manner. This process can be carried out by means of what are commonly designated as the utilities or functions of management. The four common functions are: planning, organizing, leading and controlling which have the projected outcome of making use of any businesses available assets and resources in such a way that its mission statement and goals can be acceptably accomplished. The first and possibly most important step of managing an organization or business is the planning step. This function of management involves predicting the potential course the organization will be directed toward in upcoming months and years and coordinating specific routes that need to be followed in order to reach the businesses full potential. Planning is a methodical activity that establishes who will carry out a specific job, when that job or task needs to be performed and the manner in which it should be carried out. The planning phase of business management is a comprehensive program that concerns impending plans for specific actions. “Planning is concerned with the future impact of today's decisions. It is the fundamental function of management from which the other four stem. The need for planning is often apparent after...
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...Decision-Making Process Paper Jovon Roberson MGT/230 December 17, 2012 Juan Mobley Decision-Making Process Paper My name is Jovon Roberson, I will be discussing my decision making process. I will try to supply research supporting my ideas. The paper will describe some steps of my process. I will compare some similarity to the text, and explain how some of the steps might be different. Most decisions people make in their life time will definitely be easy and some maybe very difficult. I truly believe that each individual is in control of their own destiny and in complete control of the decisions they have to make in their life time. My decision to start school was clearly decided right after I was terminated from my job. I was ill at the time and desperately needed to file for the family medical leave of absence so my job would not be in jeopardy, but that was a total loss. Once terminated I clearly had to make some important decisions about the future of my son and I, while thinking long and hard about how I was going to make ends meet. I had a discussion with one of my best friends and I came to the grips that I needed more than what I was getting and this really was my only option going to school. My steps are somewhat different from the ones in the text, but it is clear they there were important steps to take while making my decision to go back to school and I really believe it was one of the best decision I could have made. My decisions would have been different...
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...My definition of management is using information and knowledge to analyze, plan in advance, choose necessary actions, organize resources, and lead and stimulate people to achieve desired outcomes. In addition, effective management means controlling, monitoring, and making necessary adjustments and changes to meet organizational goals for the desired end results. Management is necessary to provide direction and guidance to meet specific goals. Management plans specific goals in advance, organize through coordinating the human, financial, physical, informational, and other resources needed to achieve the goals. Once resources are organized, it is necessary for management to lead, stimulate, and communicate the information effectively to the people in the organization to work toward achieving the goals. Management also monitors performance, learning what is working or not, and making necessary and timely adjustments to result in outcomes that are consistent with the organization’s goals. Management is necessary to lie out specific goals so the organization and those in it understand goals, expectations, and where the company is headed. Historically, management in organizations used the trial and error method to manage. If it worked, they continued to use the method previously used. If the method did not work, they would try something else, but generally stayed with the same or similar approaches used in the past. The approach has evolved from an organization with an unapproachable...
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...Decision Making MGT 230 University of Phoenix Decision Making There are have been several times in my life that I have had to make a decision that would affect both myself and my family both personally and professionally, but there is one career and life change specifically that I will focus on in this paper and discuss the outcome of my decisions and how it has carried into my life today. When I graduated from High School, I was offered a full ride scholarship to play football at Trinity International University (Trinity) in Deerfield, IL. Initially I declined the offer as I was unsure if that was what I wanted to do, but decided that I needed to give it a shot. So I moved to IL the summer of 2004. Unfortunately, I blew my knee out the first month I was there and was career ending. Although the knee injury was disappointing, it wasn't all that bad as I was able to make some connections with a few individuals that own a trading firm that trade on the Chicago Mercantile Exchange, which at the time, trading was very intriguing to me, so the connection was very important. I decided to move back home to AZ. In April 2006, I was presented with a job opportunity in Chicago, IL to trade on the Chicago Mercantile Exchange with the contacts that I created when I was at Trinity. At this time, I lived in Phoenix, AZ, which is where I was born and raised, so despite how incredible the opportunity was and how excited I may have been, I had responsibilities...
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...Week 1 Reflection Jonathan Guerrero MGT/230 Week 1 Reflection According to class in week 1 we discussed different ways to be in charge as a manger or in management. We learned the four functions of the management process, division of labor, critical thinking, and communicating clearly and affectively. The first week of class really reflect the many functions of being a manager or using these tools to become a manager. Using critical thinking helps to analyze and make decisions. We learned to use critical thinking to make a decision on impulse but to not make an impulsive action. The actions are to be delegated by management and needs to be communicated clearly and affectively. Parts of using critical thinking we also use the division of labor in management. This involves assigning tasks to workers, using a chain of command, and using a line of authority. In class we discussed the four functions of the management process. The four functions are planning, organizing, leading, and controlling. “Planning is specifying the goals to be achieved and deciding in advance the appropriate action needed to achieve goals” (Bateman & Snell, 2010 pg15). In planning it provides the foundation for other functions. It is an ongoing process and it’s a decision process that allocates assets. Organizing is the management function of assembling and coordinating human, financial, physical, informational, and other resources needed to achieve goals. Examples of organizing are system...
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...Week 3 Learning Team Reflection Summary MGT/230 Management Theory and Practice January 6, 2013 Linda DeYampert Week 3 Learning Team Reflection Summary Learning Team B collaborated and discussed the previous week’s objectives, which included the planning function of management, and the various factors that influence planning. Planning can be affected by legal issues, ethics and corporate social responsibility. A companys planning is also influenced by strategic, tactical, operational, and contingency planning. As a team we determined that learning about the steps of planning from the textbook’s learning objectives increased our knowledge through the learning activities and the instructor’s teachings. Since we are all in the process of pursuing our career, planning is an important step to ensure that we successfully accomplish our goals. The textbook defines planning as a conscious, systematic process of making decisions about goals and activities that an individual, group, work unit, or organization will pursue in the future (Bateman, 2011). Planning is an essential tool that can be used either in one’s personal life or a company. The planning function consist of identifying and diagnosing the problem, generating alternative solutions, evaluating alternatives, making a choice, implementing, and evaluation. This is a purposeful effort to accomplish ones goals. Planning provides individuals and work units with a clear map to follow in their future activities; at the...
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...1 Running head: Decision-Making Process Week One Melissa Schaefer MGT/230 December 10, 2013 Alex Luna 2 One of the greatest challenges I faced in my life was purchasing a home. The most challenging part was to find a home in a new county and do it within 6 months. I had immense pressure to make a quick decision on one of the most important purchases of my life. At the time I had many uncertainties, and I had no time for lack of structure. “ Uncertainty the state that exists when decisions makers have insufficient information” (Bateman & Snell, 2011, p. 87). I decided to write a check- off list of things I needed to do in order to accomplish my decision to purchase a home in a desired city in a short period of time. The first step was to move in with family in order to pay off all debt and rise my credit score from 630 to high 700’s range, this ensured I would be ready for the second step. The second step was to find a reputable loan officer that specializes in veteran loans and find-out how much home I could afford. I felt I was taking a big risk in trusting any loan officer,” they are part of the problem in today’s poor economy” ( M. Schaefer, personal communication, December...
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...Decision Making Gayle Collins MGT/230 12/22/2014 Stephen Marsareau Decision Making Earlier this year, I was debating on moving in with my now fiancée, in Chillicothe, IL. At the time I both lived and worked Normal, IL. I was very torn because I loved the job where I was and liked my apartment. However, I was pretty sure that my relationship was going to move onto the next level fairly soon, but there was always that chance that it wouldn’t work out once you moved in there. I enjoyed all the aspects of my job and where I was living, except for the fact that it was over an hour away from Doug. So I had to weigh the pros and cons of moving and whether or not I should look for a new job, and if I was going to enjoy the new job as much as where I worked at the time. I need to make the decision based on mileage, wear and tear on my vehicle, and compensation. In the midst First things first the decision to move to Chillicothe. Once I decided that I thought that was the best thing for our relationship based on us needing to see where this was going. And the fact that I lived in an apartment in Normal and he owned a house in Chillicothe. I worked in Normal he worked in Peoria, so in the end it was a no brainer owning a house was much more cost effective and smart than renting an apartment. Also the consideration of my pug/Chihuahua, Ally, that living in the country was better for her than being cooped up in town in an apartment. So in the end it...
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...Leadership Theories April Ramsey MGT/230 May 31, 2015 Kevin Wilhelmsen Leadership theories are there to help managers and leaders make large to small decisions. Having these theories can be very helpful when you have a lot on your plate and then something else hits you. We talked about two different types of theories to help with decision making. Since we all have to make decisions at one point in our life, I think these theories could even help with at home problems as well. This week the team did not have a discussion. The first theory I talked about was the Vroom model. This model is a situational model that focuses on the participative dimension of leadership, how leaders go about making decisions. This model is like a funnel, you answer one question at a time, choosing high or low for each and sometimes you have to skip question as you follow along. Eventually, you reach one of 14 possibly end points. This seems a bit much having to go through all of the fourteen question before reaching one to make a decision on. I think that it is just time consuming and sometimes you just do not have that much time on your hands. On the other hand, I think that if you do have the time then by all means sit down and think about every inch of the decision that needs to be made. I am one who likes to really think about something before doing it but sometimes it’s hard to when you are a very busy person. The Vroom model just seems like if you do not have the time then...
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...Decision-Making Process XXXXXXXXX MGT/230 XXXXX XXXXXXXX Decision-Making Process Decision-making plays a key role in life regardless of the situation. People make decisions, simple to complex daily. Before any decision can be carried out there are steps to consider that will make the process of making a decision simple. In my lifetime there have been times when I had to make important decisions that affect my family. Every decision was thought out thoroughly, planned, analyzed and put into action. The most recent decision involved moving my family 20 miles away from my home town, in Columbia. Deciding to move was a problem and an opportunity at the same time but I chose to focus on looking at it as an opportunity. The first step of my process was looking at this as an opportunity instead of a problem. By defining this as an opportunity, I could focus on what good this change will do for my family instead of the hassle and work required to make the move possible. I began asking family and friends questions about the best areas to move my family. This process helps me collect as much information about various areas and the process of buying a home. After a year of planning and researching, I made the decision to buy a new home in the Northeast area. Although the plan did not go smoothly, I did buy my dream house and despite a seven-day delay in closing I was very happy with my decision. Making a decision regardless of the situation involves a step by step process...
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