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Essay example - Making Management Decisions: Case for Midland Barometer Company
Finance & Accounting
Pages 6 (1506 words)
Making Management Decisions: Case for Midland Barometer Company Name: Course: Tutor: Date: Question 1: Decision making styles for the three directors of MBC Decision making is not an easy task within an organization and the management needs to apply various decision making styles based on the nature of the situation…
Extract of sample
He approaches business as a conservative risk-averse individual who is unwilling to take any chances thereby being considered as a satisficer. He is open minded and open for consultation on issues affecting the firm as illustrated by the consultation he had with Harry and Imran on staffing issues. After consulting, the three resolved that the firm is able to operate with 25% less employees. Therefore, consensus type of decision making is also his characteristic. William, just like his other two counterparts depicts procrastination style of decision making as he is reluctant to reduce the number of employees due to their emotional and motivation effects and optimism of improved sales. William shows decision making style of consultative input gathering especially when he prompts reactions from his colleagues on the reduction of the capacity of the organization. Lastly, William shows delegation approach to decision making in which he delegates his co-directors to run other departments of the company (Moyer, McGuigan & Kretlow 2001, p. 67). Harry Stevenson Harry is in charge of the firm as the managing director and was responsible for making decision related to marketing the organization. He has been systematic and logical while addressing issues facing MBC. ...
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