Decision Making at the Executive Level Essay -- Business Management Pa

Decision Making at the Executive trainThe focus of my term paper is the decisiveness making process utilize by todays top-level managers. Top-level managers, such as Chief Executive Officers (CEOs), Chief operations Officers (COOs), and Chief Financial Officers (CFOs), must make critical conclusivenesss on a daily basis. Their choices and the resulting outcomes affect the company, the employees, and the s latch onholders. Due to the high importance of their decisions, the process they usage to r individually them merits a close examination.A discipline published in the winter 1997 volume of Business strategy Review suggests the major doer in a decisions victory is the decision process itself. The study, by capital of Minnesota Nutt, suggests that poor decision making processes cost North American businesses billions of dollars each year. The study also proposes that most managers dont realize the importance of the process, and its effect on the advantage of the decision . Before analyzing the decision process in depth, the measurement of success must be established. Nutt used two broad measures to determine the success of decisions made. First, was the decision implemented fully. Second, was the decision still effective two years after implementation. Based on these measures, only half of the decisions in the study were considered successful. Nutt concluded that much time and money was indeed wasted on these unsuccessful decisions. So during what part of the decision making process did these top-level managers go wrong? In general, many managers often rush to a decision and stick by it, even when it continues to fail. A nonher cause of unsuccessful decisions is that the managers did not include those most affected by the outcome in the decision mak... ...n decisions, often increasing the chance of success. Unfortunately, most executives dont use this scheme in their decision process. Executives often rush to decisions in order to rem ove the spirit of uncertainty by not coming to a decision. This impulsive strategy fails because the decision maker does not include enough key plenty in the decision process itself. If managers would be more confident and take the time to properly assess the decisions they face, the success rate would increase and therefore save much time and money.BibliographyWorks Cited1.Kroll, Karen M., Costly omission, manufacture Week, July 8, 1998, p 20.2.Information Access Company, Avoiding stupid management moves, American Printer, manifest 1997, v218 n6, p 94.3.Nutt, Paul, Better decision-making a field study, Business Strategy Review, Winter 1997, v8, pp 45-53.