Category: Business

Essay on Decision Making (516 Word’s)!In most instances, it is not possible for decision makers to accurately predict the consequences of an implemented alternative. This is partly due to the dynamics of the environment. Image Source: inspiringgenerations.org ADVERTISEMENTS: The more complex the problem and more dynamic the environment, the higher the degree of uncertainty in predicting the outcome of a decision. In general, there are three different conditions under which decisions are made; these are (1) complete certainty, (2) complete uncertainty, and (3) risk. i. Decisions under certainty: This is the simplest form of decision making. The condition of certainty exists when decision makers know exactly what the outcome of each alternative will be. The decision maker would simply select the alternative which has the best outcome. If the number…

Essay on the Quantitative Approach to Management!This approach emphasizes the use of mathematical techniques and models in solving many complex management problems. These quantitative tools and methodologies, known as operations research techniques are designed to aid in decision making relating to operations and production. Image Source: iaitqm.org ADVERTISEMENTS: The basic contention of this approach is the premise that if managerial and organizational operations and decisions are based on a logical process, then these may be expressed in terms of mathematical symbols and relationships. According to Lindsay, these techniques assist the management for improving the quality of their decisions by:a) Increasing the number of alternatives that can be considered.b) Assisting in faster decision making based upon objective analysis of available information.c) Helping management in evaluating the risks and results of different…

Essay on the duties of an International ManagerSince the world is becoming a “global village” and MNCs are becoming a way of business life in practically all countries, a manager must have proper orientation towards “foreign people, ideas and resources.” Three categories have been proposed for classifying managers according to their international orientation. These are ethnocentric, polycentric and geocentric. Image Source: www.dac-intl.com ADVERTISEMENTS: “Ethnocentric managers” are home country oriented and apply the organization’s domestic policies and practices to its overseas units. Decision making is centralized and the headquarters based in the home country provide direction for the entire organization regardless of the geographical location.Even though, it is simple in application, it is not workable in all types of environments. For example, in America, if a company is not doing well,…

Essay on the Reinforcement Theory of Motivation (823 Words)!The reinforcement theory of motivation shifts the emphasis from employee’s underlying needs and thinking processes and focuses on the relationship between behaviour and consequences. The theory rests on two premises. First, that the environment is an important catalyst in determining or reinforcing behaviour. Image Source: i.ytimg.com ADVERTISEMENTS: If the environment is complementary to established behaviour, then such behaviour is positively reinforced. On the other hand, if environment is hostile to the values and skills of the worker, then negative reactions take place. Second, human behaviour is subject to “cause and effect” phenomenon so that effects can be predicted on the basis of established causes and that behaviour can be changed by manipulating the consequences. Operant Conditioning: Based on the work of B.…

Essay on the Communication Networks (586 Words)!The communication model discussed earlier identifies the process whereby a message is sent by a sender and is received by a receiver. However, organizational communication is not confined to one sender and one receiver only. Image Source: fra.europa.eu ADVERTISEMENTS: In organizations, communication frequently takes place among many individuals and groups. Many tasks require a variety of inputs from a variety of people and hence managers must link up with these resources of inputs for the purpose of coordination of tasks.A “communication network” represents a pattern of information flow among group members. The importance of communication networks lies in their potential influences on effectiveness, task efficiency, group leadership, member satisfaction, and other variables that affect organizational effectiveness.In the literature on communication networks, five different types…