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Decision House Lords
The Decision by the House of Lords in the elmarsh Detainees Case
The decision by the House of Lords in the elmarsh detainees case (A v Secretary of State Home Office  UKHL 56) illustrates the increased intensity of judicial review under the Human Rights Act. Discuss the judicial reasoning in this case in the light of the above statement.
The ruling of the elmarsh detainees' case was seen as a major victory for the human rights movement. As, it involved twelve foreign terrorist suspects who were held in prison without trial. The decision was that these individuals who were held unlawfully and should be released from prison (Tomkins, 2005). A short time after this, the government changed their policy of holding foreign suspects without trial in prison to: placing them under house arrest. This is important, because it is showing the overall shifts that have occurred…… [Read More]
The Decision to Face My Fears
For as long as I can recall, I've had a fear of heights. I could never be sure of exactly why this was true but any time I found myself looking out the window of a tall building, on a carnival ride or in an airplane, I would experience symptoms of panic and discomfort. My heart would race and my palms would sweat. As a result, I began to find myself increasingly unwilling to place myself in situations where I might have to experience this type of anxiety. I would avoid taking trips where I might have to fly, if at all possible. I would go out of my way to resist the kinds of hikes or outdoor activities that might place me at elevation. In general, while it did not effect my everyday life, I was beginning to find my fear to…… [Read More]
Wrong Moves" and analyzes the decision-making process of Nutrorim CEO Don Rifkin and his management team. The essay also makes recommendations regarding improvements, including changes to management styles and the use of decision tools.
Analysis of Key Issues
The key issues in the case involve deciding whether to recall ChargeUp after a health inspector made allegations that the drink was responsible for causing illness among 11 people. During the process of making this decision, other issues become apparent. CEO Don Rifkin had created a corporate climate that discouraged dissent and failed to optimally use his people's abilities. By trying to create a climate of inclusiveness, Rifkin has gone too far in the opposite direction and instead discourages his people's best efforts by stifling dissent and debate. Nutrorim's managers get bogged down in the decision-making process, with the result that they routinely make poor decisions, one after another.
Rifkin's management style…… [Read More]
Employee Discipline and the Decision-Making Process
Decisions are a part of each day for everyone on earth. Some of these decisions are small and in significant, such as what to eat for breakfast. hile others are quite complex and one has to weigh the costs and benefits of the decision. The possible outcomes must be weighed and the solution chosen which has the most benefits and fewest costs. Business managers make decisions that effect many people and they must not only consider the outcomes for themselves, but must consider the opportunities and costs for the entire group or organization. One of the toughest decisions managers must make is the issue of discipline. hen an employee breaks the rules or acts in a way that could be dangerous to others or effect the productivity of the group, the manager must decide what course of action is best for everyone.
Let us…… [Read More]
Thus, through exposing employees to this type of a definition regarding employee involvement, managers can help them feel empowered and prepared to make decisions because those decisions will, ultimately, affect them.
In addition to presenting the new flat organizational model to them in a way that will motivate them based on the importance of their making decisions, managers and other executives can prepare employees to become involved in the decision making process by providing them with scenarios, and asking them to practice, in groups, making decisions regarding them. Through this exercise, workers begin to practice using their problem solving skills. They will also realize that the other employees in their groups have very different ideas, backgrounds, and skills. This will help prepare them for the dynamics of decision making, which often involve bringing together many people of different backgrounds, asking them to come up with a common solution. This can…… [Read More]
Marshall uses the Marbury decision to make a landmark case on the power of
the courts, and does so based not on specific articles within the
Constitution, but on his perception of what his belief and perception of
the power of the Courts and thus the Constitution should be. He believes
that the character of the Constitution in this case is defining the right
of the Supreme Court to judicially review federal legislation which thus
means that it is a broad right. It is not strictly defined, but rather is
a general right to ensure that the Constitution is followed above all other
laws. Chief Justice Marshall refers to very broad terms, such as the duty
of the courts, thus reflecting on the broad based nature of the right.
Ultimately, Marshall believes the judge's oath, which requires them to
uphold the Constitution before the other laws of the…… [Read More]
The decision about whether or not to invest in a company must take a number of different variables into consideration. al-Mart is the world's largest retailer. It has sales of $446 billion last year and on that it earned $15.699 billion in profit (MSN Moneycentral, 2012). The company has major operations in the U.S., Canada, China, Mexico and also has some operations in Europe. al-Mart is not only the number one discount retailer in the U.S. But is also the number two warehouse store, one of the top five online retailers and it is the largest grocery chain in the country. This paper will analyze al-Mart's operations in order to determine whether or not investing in al-Mart is a good idea.
One of the best tools for understanding a company is to undertake a SOT analysis, featuring the strengths and weaknesses on the internal side and opportunities…… [Read More]
For Dorchester, the decision about which foreign country in which to invest will be based on a number of different factors. The first of these factors is the economic. e have considered the different elements of the foreign currency issue, but the company must also consider the different local markets. Other factors will have to include the trade environments with the three different countries, because these will also need to factor into the costing and ability to trade. The political environment is also something that needs to be considered, for two different reasons. The first is that these three countries do have different levels of political risk associated with them. The second is that political stability is highly correlated with exchange rate and economic stability. Lastly, Dorchester needs to consider the manufacture of its goods going forward in these countries, in particular for other markets beyond the…… [Read More]
Decisions in Paradise
The many infrastructure and culturally-based challenges that Nik, his team and Mr. Morales face illustrate how challenging new business development can be in an island nation the size and location of Kava. What is immediately apparent from the case is that there is ample opportunity to enrich the island's economy and people while also building a strong, scalable business at the same time. Today however the island nation has an infrastructure that is lacking, an economy that is for the most part agrarian, and a young inexperienced workforce lacking advanced skills and education. It's going to be very challenging for Nik and his team to build a business on Kava, making the selection of a common vision, strategic plan and objectives, and core values of the team critical for their success. The decision making tools used, and the selection of vision, mission and goals all need to…… [Read More]
Best of all, any initiative in these areas, priced fairly for the island natives, delivers significant social value, or economic good for the nation and abodes by Mr. Morale's belief that in the long run, economics drives everything needs to be added to that by doing these core processes well, his company is doing good. The social conscience of Mr. Morales is also clear, and the ability to take the company's respected process-centric approach to problem-solving and apply it to the needs of Kava while at the same time earning a profit is a win/win for both the company and the nation. The concentration on healthcare especially and the development of a pediatrics clinic, potentially even underwritten by the local government for the citizens would also be significant in its contribution and revenue potential.
What Alex and Nik need to do is find broken processes in key areas and set…… [Read More]
Not even the most brilliant, ethical, and rational person has the ability to research every conceivable implication and alternative before making every decision in life.
Group decision-making is another method of decision-making, where the decision is often arrived at by consensus or committee, such as coming to a decision as to where to take a family vacation. The decision is often time-consuming, because ideally it must please everyone, although quite often no one is fully pleased (Petress, 2002). Multiple levels of irrationality are injected into the process, even if the 'team leader' (the parents who are paying for the vacation) have the final veto. To make the group decision-making process more efficient, often a vote is taken at the end of the discussion if the effort is supposed to be democratic. It can be superior to individual decision-making in that individuals can point out when group members are being irrational,…… [Read More]
Decisions of ehnquist & Warren
The field of constitutional law, at least in the area of criminal procedure, has been an interesting study for the past fifty years. Unlike other areas of the law, the study of criminal procedure has undergone major transformations as a result of the decisions of the last three courts, the Warren, Burger and ehnquist courts. These three courts have changed the legal landscape in the cases involving criminal procedure and, in the process; have created a great deal of controversy (Bloom, 2010).
The application of the Bill or ights to the states has been an acrimonious issue in the U.S. Supreme Court for a number of years. It all began when the Warren Court began applying the Fourth, Fifth, and Sixth Amendments directly against the states, under a doctrine that became to be known as selective incorporation. The Warren Court used the selective incorporation method…… [Read More]
Decision Making Model
Decision making is defined as the cognitive process of selecting a course of action from among multiple alternatives (Wikipedia, 2004). Effective decision making, however, is contingent on an individual or group's ability to select the course of action, which is most likely to result in goal or task accomplishment. In the business world, this is easier said than done since most decisions involve taking into consideration a myriad number of variables such as environmental factors, competitive activities, customer needs, internal goals and organizational constraints. Therefore, most organizations deem it advisable to use decision making support systems or models, which have been developed specifically to assist in the through analysis and evaluation of various alternative courses of action.
One such model is the Force Field Analysis. It is the objective of this paper to describe how the Force Field Analysis model helps weigh the pros and cons of…… [Read More]
Decision-making is an important activity for top management in any enterprise. Strategic thinking is required for making useful decisions. For example, business executives plan strategies to access market share, to deal with employees, to react to competition and to decide on career growth. Decision Sciences is a discipline on its own that provides techniques and methods to take decisions in any practical situations. In this paper, a list of journals and websites that provides information on Decision Sciences is provided. This list is expected to be useful to top management. (America's Investment in the Future: Decision Sciences-How the Game Is being played)
Decision Sciences" is a quarterly, professional journal published by Decision Sciences Institute. This journal utilizes the current methods of mathematics and statistics along with computer technology and behavior science. This journal is read by business professionals and teaching professionals. From 2003, Blackwell Publishing is publishing this…… [Read More]
Barnes and Noble Inc. is one of the most successful bookstores in the world. The company operates throughout the United States and boasts roomy inviting stores. In addition to books, the company also sells DVDs and music. The company operates both brick and mortar stores and it is also the largest internet bookstore. Furthermore, Barnes & Noble, Inc. is a Fortune 500 company and the largest bookseller in the world. In addition, "The company is a leading content, commerce and technology company that provides customers easy and convenient access to books, magazines, newspapers and other content across its multi-channel distribution platform. As of January 29, 2011, the company operates 705 retail bookstores in regional shopping malls, major strip centers and freestanding locations in 50 states, and 636 college bookstores serving nearly 4 million students and faculty members at colleges and universities across the United States (For Investors)." The…… [Read More]
In the case of Kava island issue, we shall reach the decision in the following manner.
White Hat / Hat #1:
This is where a person needs to consider all the available data on the issue at hand. For example we know that Kava is a land of richness. It is a place with multiple possibilities because it has a sizeable young population, is rich in petroleum, coffee, sugar and other such important items. It has people from diverse backgrounds who add to the richness of its culture and almost 15 languages are spoken in this area. But at the same time, the country is plagued with numerous problems including ever-increasing cases of HIV.
Red Hat / Hat #2:
This is where a person needs to focus on intuition. Intuitively for example we can say that Kava can be seen as a great tourist destination if developed properly. Nik's firm…… [Read More]
These two techniques of reflexive and logic-reasoning are very effective in creating consensus and insight form multiple decision makers over time (Muller, Turner, 2010). In the long-term, this technique of decision making and the involvement of the leaders on Kava can potentially reduce their resistance to the development as well.
After Nik and his team have defined their common vision, mission and objectives, they need to also define the strategies and alternatives to attain them. The strategies must be done at as little cost and risk as possible as Mr. Morales' comments in the case study indicate only a small budget is available. The team also needs to concentrate on the socially responsible nature of the decisions as well, as Mr. Morales has stated that he wants any project done on Kava to be consistent with show great respect for the citizens of the island nation, be highly ethical, and…… [Read More]
The dominant, goal-oriented person can focus on the ultimate objective, the influence-based person can examine the interpersonal dynamics of the decisions that must be made, the steady person can foster harmony and a positive atmosphere, and the conscientious person can stay on task in a reliable fashion. hile clashing personalities can thwart reaching positive and goal-directed solutions, they can create a better solution and check the excesses of one another, like the selfishness and refusal to consider the human element in the dominant personality, the disorganization of the influence-based person, the risk-adverse views of the steady person, and the rule-bound contentious type. Communication can be facilitated through email and other constant types of technological contact on a daily basis -- this can create better group bonding, although there is always a risk that the brevity and informality of the format can create rather than break down barriers.
Modern decision-making theory,…… [Read More]
Developing infrastructure in Kava will be difficult precisely because of the problems that the infrastructure is meant to address -- terrorism, constant threats of destruction from natural disaster, and health problems that affect the workforce could all prevent or set back infrastructure development significantly. With the right commitment and effective, detailed planning in the infrastructure development, however, these problems can be mitigated and even overcome. The more infrastructure is put in place, the less these problems will exist and the easier it will be to continue making infrastructure improvements, as well. There are also human factors that will need to be dealt with; all of the progress made should be done in tandem with the government and the larger community in Kava, ensuring that their needs are being met along with the company's.
Factors and esources Affecting Implementation
The organization will need to bring in a variety of engineers and…… [Read More]
Anderson Children's Hospital (ACH) is an internationally known and recognized pediatric hospital that provides the full range of services from primary to critical care units, located in San Francisco, CA with affiliated care centers throughout the Bay Area. The board of directors at ACH would like to create a mobile-crisis program to be piloted in the City of San Francisco and eventually grow to service the entire Bay Area. The following sections present the process through which the Board of Directors is trying to navigate towards its final decision.
At the core of the following proposal is this 2-part question: Should ACH create a mobile crisis program to be piloted in the City of San Francisco for (up to) one year with the intent of expanding its funding, personnel, and service area over the next 3-5 years throughout the entire Bay Area and if…… [Read More]
Decisions in Paradise III With Paretto Analysis
Decisions in Paradise II
Cesar a ivera
Decisions in Paradise II
This is Nik's problem
Nik has landed on Kava an island that is faced with numerous challenges including tidal waves/tsunami; typhoons/hurricanes; tornadoes; floods; fires; volcanic eruptions; earthquakes; HIV / AIDS; petroleum spill; high risk for avian flu; and terrorism, and has been asked to helped establish a business there. Aside from the above problems that impact the potential business, other challenges include the location and site being a mess; H procedures being chaotic, disrupted and confused organizational structure; and conflicting and conflicted workforce due to diverse composition, beliefs, attitudes, and ideologies. Employees in the past, the wrong mix and too many, barely stayed and so business management and environment became increasingly chaotic.
Nik's tasks, according to Alex, consist of establishing a greater presence in Kava. Ways of establishing that presence…… [Read More]
Decisions by School Superintendents
Improper Attitude and Unprofessional Conduct of Teachers
To educate a person in mind and not in morals is to educate a menace to society - President Theodore oosevelt.
That teaching is at one and the same time an intellectual as well as a moral endeavor, is an idea that is well entrenched in the minds of men since centuries past. The sayings of great teachers of ancient times bear ample testimony to this premise, which continues to hold sway across nations and vastly differing civilizations over the years.
In the sense that it takes care of the general well being of young students entrusted to the care of an educational institution and ensures that they are treated fairly and accorded the respect they are due as persons, teaching is most certainly a moral activity. It is concerned with building and maintaining relationships of trust with pupils…… [Read More]
A combination of techniques was used to evaluate, the most important being Bayes Theorem.
"In its simplest algebraic form, Bayes' theorem is concerned with determining the conditional probability of event A given that event B. has occurred." (Kazmier, Staton & Fulks, 2003; p. 43). In this case, the event A is the increase in sales through the e-commerce site while event B. is the implementing of the decision to create a site. The probability for the sales to increase, according to the marketing team data analysis, is 54.2% and the probability for the site to be created is 58.6%. So, the probability for event B. To not happen is 41.4% and the possibility for sales to improve without the e-commerce site is 45.8%.
The general form of Bayes theorem is:
B) = P (A and B)/P (B).
P (A1B1)= P (A1 and B1 ) / P…… [Read More]
Using Benchmarking to Create a Mass Communications Strategy
While the focus is on creating educational television as the basis for launching an educationally-based business, the use of benchmarking could also be used as the basis for giving Nik and his team credibility throughout the nation as well. The publication of benchmarks and their explanation leads to authenticity and trust being created over time (Pemberton, Stonehouse, Yarrow, 2001). These benchmarks could then be used for creating the foundation for funding for healthcare programs and the initial development of clinics, based on the training accomplished over time. Benchmarking over time would also provide insights into which specific industries have the greatest potential over time to invest in as well. The immediate impact of this decision is in the benchmarking of demographic data over time relative to educational attainment. Creating benchmarking to provide segment-specific insights can be used for development of launch plans…… [Read More]
46). Likewise, Gillispie suggests that an incremental approach can be used to "test the waters" for even very small companies seeking to project an internationalized presence. In this regard, Gillespie recommends that companies, "Craft a scaleable master design that represents the major aspects of your business worldwide and anticipates the degree of localization that will be required in each market. The degree of localization can have a real impact on budgets and timelines" (2008, p. 45). These are important factors for companies in general where limited resources and a lack of experience may preclude more aggressive internationalization initiatives, and these issues are directly related to a company's internal resources as discussed further below.
The company has a wide range of specialized internal resources which are described in Table 2 below.
Internal resources of BG Limited
BG's Specialist Cleaning division offers a…… [Read More]
Decisions in Paradise
Nik and the team face significant challenges in expanding Boeing's development and business base on the Island of Kava. Despite the limitations of infrastructure, there are significant opportunities for Boeing to expand its commercial aircraft division and also educate the island's students to contribute in software and engineering careers if they choose the career direction. Boeing must focus on the aspects of commercial aviation while also seeing the island from a developmental standpoint, concentrating on how best to enable greater education levels for the inhabitants who have skills in math, science and programming. Nik can do well by doing good for the island nation, concentrating on the corporate values of Boeing which seek to invest in their surrounding communities to enrich them, while also seeking out opportunities to nurture a development and engineering base on the island as well.
Forces Involved in the Formulation of the Problem…… [Read More]
Decision in Paradise:
For Kava, we proposed development in the field of tourism since we had limited options like choice of opening a hospital, investing in tourism development etc. we decided that the best way Kava could be developed and our organization could have a more meaningful presence in this small land was by focusing was the development of tourism industry.
We must make it clearly that the choice of our course of action was dependent on one very clear-cut reason; we wanted to leave behind a legacy. We understand that by investing in Kava we can leave an indelible positive mark on the society, culture and economy of this country and we would like that very much because if we have a presence in this land, we just might also make it meaningful and worthy of people's respect and trust.
However like in any other developing nation, Kava is…… [Read More]
decision making tool.
Forced Field Analysis: a decision making tool
In business applications, health care, or private life there arise many occasions when one is faced with making a major decision. Although many individuals face such instances with their wits alone, relying on his or her "gut feelings" to assist them in their quandary, many find that such an unscientific approach can lead them to the wrong action. Indeed, when one lacks a basic "tool" approach to decision making, the odds of coming to the correct or workable solution is significantly reduced in most circumstances. Having a method such as the "Forced Field Analysis" tool is extremely useful.
In simple terms, Forced Field Analysis involves identifying, compiling a list concerning, discussing and evaluating the possible "forces" in favor of as well as against a possible change or decision. In essence, the technique helps the decision maker see the true context…… [Read More]
This could mean adhering to stricter construction standards, using multiple locations around the country and having a stockpile of supplies that can be used to deal with emergencies. An emergency management strategy should be developed for each possible contingency, with an eye to protecting the company's investments in Kava.
The third recommendation is for Nik to work closely with Alex on this project. Nik's inexperience is a risk to the project, so she should not fear asking for guidance from seasoned professionals. Nik needs to work within her abilities in order to succeed, and recognizing her own limitations is part of that. Ultimately, the company does not know for certain she is capable of managing this project, but it believes that she is. She needs to believe in herself now, and understand that working closely with her mentors and with head office is essential to making this project a success.…… [Read More]
The watch was designed to allow the wearer to log onto the Web. It had microchips capable of doing anything a laptop could do. So out it came. Problem was that you need a keyboard and monitor big enough to see and use. The Web watch, amazingly, had neither. You had to hook it up to a PC to use it! Swatch introduced it too soon due to its enthusiasm over the technology. Perhaps they should have procrastinated (Matlack, 2000).
Chrysler and General Motors. Their procrastination, greed and laziness in sticking to the big, expensive, gas-guzzlers when the foreign car market was moving elsewhere -- into the U.S. And profitability -- and the resultant loss of business, cancellation of dealerships, and layoffs of tens thousands of workers, has to be the worst business decision in modern history.
Matlack, C. (2000, September 11). ad timing for Swatch's web watch. Retrieved…… [Read More]
Prenatal care is critical for these families. Third, there are significant needs of banking services to enable Kava citizens to create their own businesses as well, including the development of a micro-payment bank that offers low-cost or no-cost micro-payment loans so they can start their own businesses. In attracting joint venture partners in each of these service areas, Nik and his team also need to consider the underlying utilities of the island and work to make sure there is a sustainable electricity, Internet, water, and natural gas for the businesses to run reliably.
Strategic Plan Is Essential Defining Phases of Development
Alex, Nik and Chris will also need to create a strategic plan to define the sequences of businesses and their specific partnership and joint venture needs as well. The ability to attract and retain educational foundations as partners to initially fund the development of a learning network that needs…… [Read More]
Decisions and Finance
A family situation has arisen in which a decision needs to be made as to what to do with an aging, sick parent that can no longer be taken care of at home. The six thinking hats is an appropriate technique for the family to use to make the decision in a peaceful manner without hurting feelings in the process. It is important that all the aspects be considered without damaging arguments for the decision to be made for the best interests of the aging parent.
The blue hat lays out the overall problem, what the parent's needs are, options for care that is available, and any optional agendas (Six Thinking Hats). The black hat analyzes and criticizes the overall view, the fact the parent would not be living at home. The red hat is where everyone is given opportunity to voice any concerns, their own feelings,…… [Read More]
Early focus for moving operations to Kava will include organizational processes with a step-by-step plan, human resources evaluation, and study of ethical dilemmas that they might encounter. This project will take more man power than the two of us presently in Kava; a team will need to be assigned to help work the project.
This project will be one of the company's largest endeavors, we will need to ensure that we have one controlling master schedule so that individual aspects of this project do not spiral out of control
Research of the culture must be done to ensure the success of the venture, before attempting to market services to a foreign country we must understand the culture and the differences
. In understanding, respecting and accepting the different culture and the ability to set our own aside we will see a smooth transition when collaborating with the local government, parents…… [Read More]
The partnership strategy will bring capital investment to the island in the form of clinics while at the same time creating jobs for graduates. The same model needs to be applied to the banking industry as well. Creating an alliance strategy that will attract banking partners to Kava to create micro-lending programs and open branches will in turn create jobs for the Kava Educational Network. It will also serve as a source of funding to pay for vocational school tuitions as well. Throughout the strategic planning process, the potential to both enrich the island from a socio-economic basis through CS programs (Estes, 2008) while also building out key industries to ensure their profitable growth (ehme, 2007) is key. The strategic plan will need to balance the defining of the educational business as the foundation and the definition of healthcare and banking as the immediate industries of interest.
Evaluating the Ethical…… [Read More]
Decisions are an important part of everyday life, organizations, and particular of leadership goals and behaviors. We know that managers and leaders are not the same, and true leadership roles are often expressed by the mastery of being able to overcome some of the basic issues of poor decision making.
Failing to remember goals -- The old maxim of measure for success fits with the idea of goal setting. If one sets goals, keeps monitoring those goals, and then reassesses the goals, one will have an easier chance of success. Goals should always be in place and everyone in the organization should, in theory, have combined tactical goals that fit the organization's strategic goals.
Overconfidence -- There is a fine line between overconfidence and being confident. Overconfidence often implies a degree of arrogance that causes one to be egotistical and self-centered and not listen to others or see the reality…… [Read More]
The problem that is sought to be solved here is the rapid departure of sales staff from Tucci Toyota, a car dealer in Atlanta, Georgia. A new plan for development of suitable sales representatives is presented here.
Selling cars is no longer an act of salesmanship by those present at the shop and many think that buying a car is important enough for them to make a study of the deal that they are getting. Let us look at the experience of another dealer for Toyota -- Carson Toyota. Those dealers have five pages on the Internet about the satisfied purchasers and their comments. In all those comments there is the mention of the satisfaction that they had in dealing with individuals in the shop. Some of the purchasers had traveled some three hours and by using all types of transport to reach the shop -- Metrolink, light rail,…… [Read More]
The harsh, uncaring and anonymous attitude of a large city had been an issue that had always troubled me and I longed for a more intimate and personal lifestyle
I was excited by the new possibilities and vistas that the move offered but I did not realize how initially upsetting such a radical change would be. At first I was completely lost and felt out of my depth. In the rural close-knit community I was a total stranger. However, the small-town atmosphere and the friendliness of the people soon began to make up for my feelings of loss and estrangement. Within a few weeks my initial feelings of strangeness and isolation began to disappear and were soon replaced by a sense of belonging and identity.
Moving to a small town was a decision that changed my life. This change was extreme; from a fast-paced and rushed lifestyle to much slower…… [Read More]
Once it has been determined that a salary can support house payments, one must look to the down payment and determine whether one has sufficient financial resources to make a down payment. Actually, while such advice may have held true a generation ago, down payments are no longer required in property purchases. If a buyer is unable to make a down payment, they can roll the down payment into the mortgage, but will be subject to paying mortgage interest (PMI), to protect the bank's investment, which adds an additional $100 to the monthly payment. In addition, a buyer has to consider closing costs, which are costs incident to the purchase of a home, which are not recouped by the buyer. Typically banks require that a portion of the mortgage be immediately returned to them, the formation of an escrow account to cover expenses such as PMI and homeowners insurance, attorney's…… [Read More]
In other words, throughout the transition period, Onetech would create efficiencies and would consolidate its position. In the future however, it is recommended that the company moved towards a strategy of diversification, as this would better satisfy customers' needs, attract them and as such create market power for the firm (Markides, 2007).
The decision making process at Onetech
The decision making process at Onetech is quite intricate, revealing both strengths, as well as weaknesses. Decisions are for instance made at the level of the board and are based on the expertise gathered by the various major players in the firm. Still, the decisions are made by the executives, with little emphasis on the input which could be provided by the employees.
In order to better assess the decision making process at Onetech, it is appropriate to analyze it through the lenses of the rational decision making model. This model consists…… [Read More]
My taxonomy of decision-making approaches will be based, somewhat loosely, on brain dominance theory combined with what I have seen in my experience. The underlying principle is that people are either analytical or emotional in their decision making. These are the two basic types, but within these there are differences as well. For example, rational decision-making can be purely statistical -- using the numbers to guide the process, or it can be more qualitative-rational. On the emotional side, decision making can be "gut," which is fairly reactive, or it can be based on past performance, so more of a "what has worked before."
In the middle is a hybrid, which relies on a heavy amount of analysis, before the final decision is based more on feel. There might not be a much academic support for this one, but I do it myself all the time. The use of gut…… [Read More]
I tend to be risk-neutral, as much as possible, but like most people I can be a little bit risk averse. The situations in which I am most risk averse are those when taking the risk does not have a payoff that makes the risk worthwhile. This is probably closest to the minimax approach.
For me, risk is very much situational. There are a few variables that I take into consideration. The first is information. How much information I have will govern the amount of risk I'm willing to take in a situation. Even where I have strong motivation to take a risk, I feel that if I don't know enough, that I should be conservative. If the risk involves something with which I'm quite knowledgeable, I am far more likely to take the risk.
The second variable is how extreme the risk is – the…… [Read More]
Decision or Action of Moral Gravity
There was a recent situation in which my internet service provider egregiously overstepped its boundaries and transgressed upon my service. In doing so, a specific member of this organization made a decision of moral gravity that resulted in action that is likely illegal as well as unethical. The crux of the situation is that while getting technical support for the installation of a new modem -- which was a 'forced' upgrade on the part of the service provider, which claimed that my internet outages were attributed to a modem I had that was approximately three years old -- the representative told me she was concerned that I was paying too high of a price for my service. She stated that she wanted to look into alternative plans that could potentially lower the price. I gave her permission to call me back the next day…… [Read More]
To make matters more complicated, the plan may need to consider the broad range of disaster threats in Kava and focus on those that may be more relevant to some groups than to others.
We will need the assistance and support of as many helping organizations as possible such as government services, community-based organizations, faith-based groups and businesses. Just like the people of Kava, these groups are likely to have different priorities and agendas regarding industry focus and disaster threats and how to deal with the issues facing Kava. Further, these groups may even have opposing views to those of the people of Kava. Clearly, I will need to better understand the social, economic and political dynamics of Kava.
And, as a rookie, I will need to impress Alex and Chris to get the go ahead for my plan. Although these two at least appear to have similar aspirations for…… [Read More]
He should not pay more than a 10% premium to the market value of the properties. Prices can fluctuate in the short run, in the long run, property prices are significantly driven by rental values. If he is going to look at the "Price-to-earnings" ratio of his property, my friend can learn about its true intrinsic value.
No one knows if the market will be profitable in the next three years or so. Investing that amount of money is very risky although my friend knows the consequences of whether he will continue with the investment or not. A more thorough review of his options and other alternatives to this kind of investment is a more proper way to deal with his predicament. He should do some additional studies and asked around from the right persons who have experienced this kind of situation in the past just to make sure that…… [Read More]
In the situation that Frank passes BSS1, but does not manage to pass BSS2, then this branch will count as if Frank only completed BSS1.
As such, we will have the following calculations of the Estimated Monetary Value.
1. No course. The probability to get the raise is 0.2, so the EMV = 0.2 *10,000 + 0.8 * 0 = 2,000
2. Takes Attosoft: The probability is calculated by multiplying the probability to get the raise in case of passing the course with the raise itself, adding the product of the probability of getting the raise and the raise in case the course is not passed, but decreasing the overall cost of the course.
EMV = 0.4*10,000 + 0.2*10,000-3,000 = 3,000
3. Takes BSS, module 1 With a similar mechanism as previously presented,
EMV = 0.6*10,000 + 0.2*10,000-5,000 = 3,000
4. Takes BSS modules 1 and 2 With a similar…… [Read More]
he managers should also develop plans that refer to the human resources that must be included in their projects. his is because these projects usually require that certain experts are hired and involved in the project team. he effects of the projects must be carefully evaluated and presented to Childs.
3. hese projects are likely to provide important effects for the company, but they also require important resources. herefore, it is recommended that Childs takes these projects into consideration by allocating different levels of financial resources to their managers. However, the most important sum should be allocated to yler's project. his is because increasing the efficiency of the company's production flow is able to provide important effects on medium term and on long-term. his could help the company significantly improve its position on the market.
he project developed by Julie should also benefit from certain resources. his is because the…… [Read More]
For each cell, decide which of the two options is more important. Write down the letter of the more important option in the cell, and score the difference in importance from 0 (no difference) to 3 (major difference).
5. Finally, consolidate and sum the results by adding up the total of all the values for each of the options; and then convert these values into a percentage of the total score.
As a simple example, a business is looking at several ways to expand its market share. In doing so, it comes with the following options as shown below:
1. Use electronic commerce for serving customers
Expand business in home markets
3. Improve customer satisfaction
4. Improve the quality of service
Firstly the manager draws up the Paired Comparison Analysis table in Figure 1:
Figure 1: Example Paired Comparison Analysis Table (not filled in):
Use electronic commerce (a)
Expand into…… [Read More]
Decision making is a term that can be described as the process of choosing between alternatives and entails identification, development, and selection. Based on academic literature decision making and analysis can be widely divided into two schools of thoughts i.e. analytic and experiential or incremental decision making processes (Sipp & Carayannis, 2013, p.18). The analytic school of thought on decision making and analysis primarily focuses on problem definition and identification, assessment and selection of alternatives. In this school of thought, implementation in the decision making process basically entails simple execution of the cautiously selected alternative. On the contrary, even though experiential or incremental school of thought incorporates the two major steps in decision making just like the other school of thought, it focuses more on the execution of the alternative. This school of thought on decision making also utilize feedback to make necessary adjustments to the selected alternative in order…… [Read More]
The optimal payoff is $0, which would occur under scenario D1, O1.
The EMV for the first decision, which is the decision not to evacuate, is the highest. The reason for this is that the costs associated with the hurricane hitting the area, and the area not being evacuated, are very high. If the hurricane does not hit, the do nothing option has the lowest cost, but because of the risk of the hurricane hitting at least partially, the EMV for this option is the highest. The EMV for the second decision is the second-highest. This is a recommended evacuation, which incurs some costs, but a lower dollar value than the cost of a full evacuation. There are some savings, but the EMV is still fairly high.
The lowest EMV comes with a mandatory evacuation. This has the highest base incurred cost, but the likelihood that the hurricane…… [Read More]
Furthermore, Marnie was a good student whose grades depended on her being able to concentrate fully in class. She would not be able to maintain her grades if she were sidetracked by carrying a child. Dropping out was not an option for Marnie, who had strong ambitions to succeed in the working world. Marnie also had a busy schedule at school. If she were to carry the child to term would have no time for the wealth of volunteer work she performed for the school. She would also lose many of her friends because of her suddenly being thrust into motherhood. Finally, Marnie's decision to have an abortion came as a relief to her. Marnie knew that staying dedicated to schoolwork meant that she would some day have a solid career and a stable home life that would allow her to raise a family in peace. Marnie made a decision…… [Read More]
Decision making can involve trade-offs between immediate and delayed benefits and costs, especially in the long-term. Impatience causes preferences in the short-term. Future perceptions of how individuals feel about what resources will be available in the long-term as well as socio-demographics play a major role.
Hyperbolic discounting causes investors to desire short-term results (Zou, 2007). This depresses savings and reduces stock demand so stock prices fall and interest rates rise. It dampens the marginal risk effect on stock prices. People drive utility from the act of accumulating wealth. The rate of time grows. The hyperbolic discounting affects how stock prices and interest rates are affected by risk. This results in saving less to reduce stock demand to lower stock prices and raise the risk free rate.
Stock trading creates volatility in the market and creates opportunity for investors to buy low and sell high to make near future profits. This…… [Read More]
The businesses all utilize the same brand, but are otherwise quite different from one another. ithin the main retail business, the breakdown by geography is also logical, because there are some product and service differences between the geographic regions. The regional breakdowns also allow for better management and more direct corporate control. For example, having a manager for the Asia Pacific region who is based in the region allows for closer monitoring of the company's efforts in each different market, essential since for the most part Starbucks' Asian properties are owned by large franchise operators.
There is little cause for making changes to the job design. The functional design with geographic groupings subordinated reflects that first and foremost Starbucks is about a set of product/service offerings. The geographical scope of those offerings is secondary to the offering itself. The cafe business, for example, cannot have much meaningful input into the…… [Read More]
The brainstorming approach: The Grubb & Ellis Company
In contrast to the City of Miami, the Grubb & Ellis Company, a commercial real estate advisory firm, uses the 'brainstorming' method of decision-making. A creative business such as Grubb & Ellis clearly believes it benefits from a decision-making model that encourages a 'free for all' of information. In this model, individuals write down, collectively or individually, every idea that comes to mind, good or bad. No censorship is allowed. Quite often, unique and off-beat solutions are generated through this method, and sometimes even the 'craziest' ideas can germinate practical solutions.
The only problem with the brainstorming model is that because it is so democratic, the organization can get bogged down debating an array of available alternatives, when a quick decision is required. Eventually, a solution must be arrived at, and the organization may find itself forced to shift to a more…… [Read More]
" To that end, the Treasury Department would limit executive compensation for institutions receiving "exceptional assistance" (Geithner and Summers, 2009).
Troubles continued in the financial sector -- both Citigroup and the Bank of America needed second rounds of capital infusions, and federal guarantees against losses totaling tens of billions more -- while Ben S. Bernanke, the Federal Reserve chairman, warned that more capital injections might be needed to further stabilize the financial system. On Jan. 16, the Senate voted 52-42 to release the second round of funds (Gerth, 2009).
THE GEITHNER PLANS -on Feb. 10, Mr. Geither presented the rough outlines of the Obama administration's plan. A central piece of the proposal would create one or more so-called bad banks that would rely on taxpayer and private money to purchase and hold banks' bad assets. Another centerpiece of the plan would stretch the last $350 billion that the Treasury has…… [Read More]
Decision Analysis System Modeling
"DATA DECISION ANALYSIS SYSTEM MODELING USING SPEADSHEETS"
"Data Decision Analysis System Modeling Using Spreadsheets."
Spreadsheet is one of the most popular software packages on the planet. Daily, million of business people, students and individuals use spreadsheet program to build models to assist in solving decision problems they face on their work activities. Thus, employers generally look for individuals having experience and skills with spreadsheets. Typically, spreadsheets assist in developing varieties of management techniques in modeling environment. More importantly, spreadsheets assist in developing models and make decision within a business environment.
Within the present contemporary business environment, many business managers face daunting tasks to make effective decisions. With the fast-paced and dynamic changes within a competitive business environment, business people are often faced with extremely complex business alternatives. Evaluation of the alternatives and choosing the best option from these alternatives has become a daunting task…… [Read More]
Decision Analysis System
Computers have brought a great change in our lives. A software program called spreadsheet turns the computer screen into a paper sheet one is working on. This program saves time by reducing the errors and repetitions of calculations. It is commonly used in physics labs in order to save time by getting accurate results and accumulating proper data in labs. Spreadsheets have traditionally been used by accountants for the purpose of bookkeeping and budgeting, when actually they can prove to be amazing tools for engineers and scientists as well. Using a spreadsheet, entered raw data could be manipulated and plotted through few easy commands. Furthermore, due to their built-in capability to easily plot data, spreadsheets prove to be especially useful (Karmakar et al., 2007).
Initially introduced in the corporate world in late 1970s and the early 1980s, it proved to be an immediate success. The usefulness, power…… [Read More]
decision to perform an acquisition is heavily influenced by how it relates to the strategic business goals of an organization. Explain why you think the acquisition could potentially supports the strategic business goals of your organization
The decision to perform an acquisition must be approached precisely as though one were planning f or a military campaign. In a military campaign, the success of the battle depends on the initial planning and input. The better this is done, the greater and more effective will be results, and the strategist will, hopefully, win his battle.
A similar situation exists with the influence of action on the strategic business goals of an organization. Cost overruns, schedule slips, and performance shortfalls can all be seen as potential obstacle that can stand in the way of achieving optimum strategic success. The person performing an acquisition has to start off with a clear idea of IT…… [Read More]
Therefore, decision makers evaluate only a reasonable number of alternatives and choose the best one from their comparisons (Kantrow, 1987).
A made a similar decision based on the rational decision making model. When recently, I decided to buy a car, I knew that I had a problem, since without using car it was taking many hours from work to the home. Therefore, I was able to identify the problem. In next step, I needed to decide which car to buy at an affordable price range. In this step, I evaluated several cars, along with their comfort level, rating, and price range. Though evaluating all of these cars took a long amount of time for me, as it required me to research the performance of several cars within the affordable price range. Finally, based on these evaluations, I was able to pick a car that I thought was the best on…… [Read More]
Decision Making Methodology
Decisions in business should be based on sound intuition and factual data. Oftentimes management has to make a judgment call of whether to evaluate from projections or from objective analysis of the circumstances. It is important for those in business to have proof to back the reasoning for making a decision which is sound and reasonable. According to Bazerman and Moore there are six main steps to making a sound decision this structure can be used for any problems requiring a resolution. The methodology is considered useful due to the fact that consistent results can be documented (Bazerman and Moore, 2005).
Identifying a business problem is the first step in the Bazerman and Moore decision model. A problem that recently presented itself in the workplace was related to tenants in the Wulvern housing complex.
Wulvern is part owner to a Senior Living Association that houses thousands…… [Read More]
The most general critical thinking strategy involves the following steps, outlined by Cohen et al. (2000). First, we propose certain statements or hypotheses. For example, I have written down my thoughts at this stage in the decision-making process if I have too many ideas. Second, we need to think of or actively solicit counter-arguments. We need alternative explanations for our observations. So in my situation, I need to brainstorm all the possibilities for a discrepancy in pharmaceutical inventory. My hunch might seem outlandish to another person and vice-versa. Only when all ideas are on the table can the project proceed in a rational, systematic manner. The third step in the Cohen et al. (2000) model is to modify the original hypotheses to take the additional information into account.
According to Paul & Elder (2002), irrational decision-making is simply a "bad habit" (146). We can unlearn this bad habit by practicing…… [Read More]