Question

You have just been promoted from front-line supervisor to be one of the firm's senior managers. During your business education, you learned that the primary role of a manager is to make good decisions. As a supervisor, you had frequently been making routine decisions, but you realize that decision making for the overall company can and will have far greater impact on the company and its employees.

Your boss, the chief executive officer (CEO), realizes that you do not have much practice in this higher level, decision-making process and has asked you to write a memo describing your understanding of how to make important decisions.

Your memo should address the following questions:

• Describe at least 3 criteria that would determine whether the manager is making good decisions. What should be done to better assure that you are making a good decision?
• In the realm of decision making, what are assumptions? Rather than use a dictionary definition, cite several specific assumptions that would go with any real-life decision you have made or have seen made at a company at which you have worked.
• Given the importance of proper assumptions, your boss asked you to assess the accuracy of certain business assumptions and what could you do to test or confirm the credibility of them. The following were major assumptions for each firm:
  • An automobile manufacturer's assumption that the demand for SUVs would continue because gas prices would continue to rise
  • An airline's assumption that there was a need for an airline that provided no added amenities

Please submit your assignment.

Answer 1

Some of the criteria in making good decision is that, “How well did the manager understood the company policy”, ‘How well did the manager built relationship with the employees?, ‘whether his decision making process is helping the company’s growth’.

As a manager I will take the responsibility for the company’s growth. I will have the ability to make important decision based on my understanding and strategy. My decisions will be strictly followed by the employees, as I’m doing this for their career growth. My principle motive is to build good image of the company to the customers and to take care of the employees.

I work in a fashion retail company. I have seen lots of important decision that has been made based on the feedback from the customers and also on the requirements for the company. The overall goal of good decision making is to provide customer satisfaction, so that the customers do not get disappointed by our service. It’s is either to launch new product and design based on customer demand or by providing friendly service.

In fashion retail industry the products demand changes from time to time based on the seasonal requirement. During winter season the company will come up with new and innovative ideas to provide the best services with the new products. As we all know, at this period the demand for winter garments will be more than the summer garments, so we will mostly focus on those items.

As a manager my another responsibility is to take care of the employees mental ability. They are the best resources that we have in the company. I will take care of their needs; health related concern so that their career doesn’t get affected in any sense.

I will also assign task to the supervisors or trainers, so that they can keep track and evaluate the employees’ career progress in the company. I will assign 1 trainer to each group of employees and they will help the employees in all the possible ways so that the works are done smoothly with hassle free. In these ways I will keeps 1 trainer to each group of employees.