Business Decision Making - Essay Example

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Business Decision Making

The individual, the community and the social and political hierarchy that constitute the system, now face new risks brought forth by the choices they have to make or will make in the future. This is a result of the deluge of information, the flooding of goods in a free market economy and the proliferation of environmental and scientific awareness that conflict with other pieces of information, alternative goods and concepts that are readily available at a flick of a finger. These aforementioned conveniences and awareness are sometimes deemed liabilities in contemporary society as access to specialized knowledge and the profound understanding of risks have deemed it difficult for societies to formulate institutional and collective decisions. However, individuals, with their predilection for personal control, are in some ways encouraged by consumerism and their ability to purchase and thus, decision-making can easily be generated in the personal level.
The present transition of societies from industrial to knowledge societies has significantly affected not just individuals but also the economy and our political structure as well. With the societies' and the individual's volume of knowledge at the effortless disposal increasing at a high-speed rate and doubling every five years, the rise of the new social order founded on knowledge is inevitable (Stehr, 2001). ...Show more

Summary

Topic: "Access to specialised knowledge makes decision-making easier in contemporary society" Discuss using examples of medical, religious and environmental knowledge. Essay needs to reflect how access to specialised knowledge can make decision making both easier and harder…
Author : morargarrick
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