ipl-logo

Managerial Decision Making Paper

1373 Words6 Pages

Managerial Decision Managers and leaders have to make important decisions about everyday operations that affect their revenue. Decision making involves the physical process of choosing from possible alternatives. These decisions normally involve making decisions in order to accomplish a desired outcome. The normal decision making process includes defining the problem, identifying options and using a particular method to choose the best alternative. In any decision making process, one must look at the cost benefit. It is important to view and evaluate each alternative cost and benefit. Benefits and cost and carry over for a number of years. This indicates that one must calculate the net present value of each alternative or option. There …show more content…

The collection and analysis of important and relevant data is required in this process. For example, the company must fully evaluate the results and outcome of hiring workers outside of the U.S. The information gathered will help the company evaluate the expected outcome or results from a selected course of action such as outsourcing. After the information has been gathered, the company must review any legal constraints, such as laws regarding outsourcing or hiring foreign workers.
Implementing the Decision After all alternatives have been evaluated or assessed and the course of action has been selected, the last step is implementation. If the company choses to outsource, they must continue to monitor the implementation of that decision to ensure the desired results are achieve. The company must also develop a plan for outsourcing and communicate that plan to stakeholders. The company then creates a schedule which includes a transition period. …show more content…

The employment rate in the U.S. increases as result of jobs being outsourced. Returning jobs to the U.S. would help to employ the 7 million plus unemployed workers and the more than 8 million part-time workers seeking full-time jobs. Although Americans have the skills to perform these jobs, some may not be willing to accept the lower wages offered to foreign workers. However, consumers will end up paying higher prices if Americans do not accept the lower wage. The country has of course heard the promise from Presidential candidate Donald Trump. Trump has stated that he will bring back jobs supported by NAFTA. By doing so, this will sure to help the U.S. companies while damaging those that are based overseas. The U.S. would have an increased in employment as a result. U.S. companies could become less competitive if the government enforces laws to restrict outsourcing jobs. If companies are not able to outsource job for lesser wages then the cost will be passed on to consumers by way of higher

Show More
Related

Target Corporation Swot Analysis Paper

661 Words | 3 Pages

In order to determine the whether an outsourcing activities would have a positive or negative impact an evaluation of the activity should be undergone. This evaluation examines the required coordination, strategic control, and intellectual property characteristics of the activity (Chase & Jacobs, 2013, p.444). The required coordination aspect examines the difficulty to complete the activity with limited interaction due to geographical locations. Outsourcing an activity that would result in a large amount of back-and-forth exchange would not be wise to proceed (Chase & Jacobs, 2013, p.444).

Read More

Should The Article 'Republicans Take New Tack On Taxing Companies' Overseas Profits

458 Words | 2 Pages

Also, the plan changes the corporate tax rate to 20%, and the imports will be taxed while the exports will not be taxed. That means as long as the products are consumed within the U.S., there will be taxes applied to them, no matter where they are produced. It could encourage many companies keep their productions at home, which may appeal to Trump who promised to bring more jobs and productions back to the country. The plans are not perfect, however, since the plan may give up taxation of high tech companies’ foreign profits.

Read More

Pros And Cons Of Moving Companies Out Of America

229 Words | 1 Pages

This raises unemployment in the US, while it raising employment in other countries such as, Vietnam, China, and Brazil. Now, of course, their are benefits to moving companies out of America. For instance, companies can lower their prices, and increase America’s products in the world market. Also,

Read More

Standards And Requirements For Nouveau Fashions

742 Words | 3 Pages

This can happen if American and foreign consumers become committed to purchasing Nouveau Fashions' American made merchandise, and not the competitors’ products made outside the country. In particular, this will create more jobs and minimize the unemployment rate in America. MAM states, American manufacturing contributes to at least 17 million jobs while boosting the GDP by 12 percent. Therefore, more Americans working domestically would aid Medicare and Social Security for Americans paying more taxes. United States lost close to $2 trillion cumulative trade due to excess importing of China products (Saylor, 2014).

Read More

Donald Trump Pros And Cons

679 Words | 3 Pages

Trumps campaign platform is “Make America Great Again!” and believes one way of keeping America great is by slowing the flow of non-Americans coming in, especially at the Mexican border. Trumps Immigration reform plan first point states, “There must be a wall across the southern border” as a way to keep illegal immigrants out of America. He even insists for Mexico to supply funding for the project. Without these immigrants, the United States would lose important economic as well as cultural influences. Because of immigrants, the article “10 Critical Pros and Cons of Illegal Immigration” expresses,” businesses can increase production and reach their targeted sales.

Read More

Managerial Decision Making: Knife And Fork Gastropub

673 Words | 3 Pages

Managerial Decision Making Adenike Isijola Columbus State University Managerial Decision Making For this assignment, we are focusing on one of the episodes of “Restaurant Impossible”- Season 10, episode 2 to be more precise where the producers were seen interacting with the owners of “Knife & Fork Gastropub” trying to give a complete makeover to the restaurant to make it a success. The restaurant was managed by two brothers who got investments from their mother and stepfather. While the restaurant seemed doing good before Irvine and his team paid them a visit, the main investors were not so much impressed with its performance as they thought the operation was losing money. The first component of decision making process is recognizing the requirement of decision.

Read More

Why Is Outsourcing Important To America?

645 Words | 3 Pages

Could you imagine pulling $2,000 out of your wallet if you wanted to upgrade to the next iPhone? This is exactly why outsourcing holds importance in companies and is crucial to getting consumers the latest and greatest in technological advancements. Recent startups have realized the benefits of outsourcing everything from payroll to manufacturing immediately and companies already stationed in the United States have also moved most operations overseas to drastically cut costs and increase the bottom line while passing down these savings to the consumer. Many will argue that outsourcing is just “helping to destroy your own country” (James), but, when used effectively, outsourcing can result in happier consumers while still preventing damage to America. Outsourcing should be utilized in our country to decrease the price of products, allow greater focus on innovation, and increase the output

Read More

Outsourcing At TI Canada

413 Words | 2 Pages

Thus, while outsourcing the work, it is important that the organization receives the expected services from the external provider, otherwise they have to get these services finished internally for an unwanted additional cost. However, the main concern is that the external provider will have all the employees’ records including their banking and credit information. As discussed earlier the issue TI Canada facing is regarding its payroll activities which they outsourced to an external provider and ended up with several transactional error. Dawn McWhirter is to make a decision as she spent a large amount

Read More

Why Is Donald Trump Successful

202 Words | 1 Pages

Trump did do a very good job keeping jobs in this country as well. The Ford Motor company was determined to base their factories in China but Trump did not allow that to happen. This was the first major company that Trump could convince to stay in the United States of America. This initiative by Donald Trump was very successful. The country say the unemployment rate improve significantly.

Read More

Chapter Summary Of Framing And The Reversal Of Preferences

645 Words | 3 Pages

The chapter is preparing the manager for optimal results when making important decisions and how the “framing of a problem affects the decision-making process.” (p. 84) The book examines how people make choices depending on how a problem is worded or framed. Covered

Read More

Disney Is Said To Renew Fox Talks As Murdoch Dance Continues

781 Words | 4 Pages

Decision making is the process of making choices among alternatives with the intention of moving toward some desired state of affairs (McShane & Glinow, 2015). In this case, the Walt Disney Co. has a decision making to acquire a significant part of 21st. Century Fox Inc.’s media assets. In the extreme form of decision making, this calculative view of decision making represents the rational choice paradigm that the view in decision making that people should-and typically do-use logic and all available information to choose the alternative with the highest value (McShane & Glinow, 2015). Disney need to consider two disadvantageous factors which would affect the deal.

Read More

Monopolies And The Steel Industry Analysis

921 Words | 4 Pages

The offshoring causes American people to lose jobs at home, causing a whole class a people especially in the Midwest to become unemployed. When these people

Read More

The Pros And Cons Of The Paris Climate Agreement

1651 Words | 7 Pages

In his statement, he defined the accord as a disadvantage for the US, created to give a financial advantage to other nations. Trump claimed, that economic restrictions would cause a $3 Trillion decrease in GDP and would command a cut in production. Furthermore, he stated that the accord would lock up vast amounts of energy reserves, like coal, that could have been used to “lift people out of poverty”. According to Trump these restrictions would cause a loss of 2.7 million jobs by

Read More

Modern Tires Case Study

1021 Words | 5 Pages

Gathering information before making a decision helps managers gain a better understanding. Third, make predictions about the future. Forth, make decision by choosing among alternatives. Once they have determined what will satisfy their want or need they will begin to seek out the best deal. This may be based on price, quality, or other factors that are important for them.

Read More

China Blue Reflection

1162 Words | 5 Pages

Making a good business decision doesn’t always mean it is the best possible decision. Economic benefit is not the most important thing. We need to hold everyone else’s wellbeing and the state of our planet in high regard. We need to be concerned with the activities that are taking place to accomplish the outcome we are seeking. Outsourcing may be a smart economic decision, but we need to investigate it.

Read More

More about Managerial Decision Making Paper

Related Topics

Open Document