Problem: Decision Making Need
You have been promoted to a senior management position of your company. In recent meetings with the CEO and other members of the executive team, discussions about the need to change the strategic direction of the company have been center-stage. Apparently, the company has been losing market-share for several quarters now and it has been determined that many factors have contributed to this downward trend that has resulted in lost sales and commitments from customers. For you, many decisions pertaining to improvements in the areas of product development, training, marketing, manufacturing processes, quality, and motivating the workforce must be made.
Using your textbook, LIRN-based research, and the Internet, apply the concepts learned thus far in an analysis of your decision-making process that will enable you to improve in the areas mentioned. Be sure to include the following decision-making concepts:
1) The steps of the decision-making process that are relevant
2) Systems-thinking and common biases that can affect your decisions
3) Bounded rationality and framing as it applied to your decisions
4) Mitigating or enhancing the effects of motivational and emotional influences, and paradigms
5) The incorporation of fairness and ethics to the decisions you must make.
The response must include a reference list. Using one-inch margins, double-space, Times New Roman 12 pnt font and APA style of writing and citations.