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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

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