3.2 Decision Making Process in CIMB Bank
The definition of decision making is the thought process of selecting a logical choice from among the available options. A decision involves a choice that will produce the best possible outcome against the goal or objectives being sought by the organization or individual. CIMB Bank Labuan Branch always work on their objectives because it is good to have first worked out what your goals and objectives are before decision making.
The eminent management consultant Peter Drucker states in his book The Effective Executive that the first rule of decision making is that you do not make a decision unless there has been disagreement: encourage your staff to debate ideas and alternatives. CIMB Bank makes a decision after considerating with the main department.
Following are the decision-making process of CIMB Bank Labuan Branch:
The first step in decision making process is identifying the purpose of the decision. This process led by CIMB management by conducting a meeting among their main board members. The Board meets as often as necessary to fulfil each and everyone’s roles and responsibilities. CIMB management has to consider all the proposal or transactions, either they have the interest directly or indirectly and abstain from participating in discussions and any decision-making on that proposal. The minutes of the meeting will reflect such as. By identifying the source of the problem, CIMB management will have many ways to solve it.
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