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Desion Making Evaluation

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Running Head: EVALUATION OF BUSINESS DECISIONS 1

Evaluation of Business Decisions

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EVALUATION OF BUSINESS DECISIONS 2

Evaluation of Business Decisions

Decisions making is a recursive process that takes place at a certain point and time where

there is a need for changing the way a business runs to improve its efficiency and productivity.

This is an area that requires a methodical approach in making the decisions that would spearhead

the company as a whole. Therefore, a business’ success is dependent on the decisions made, their

implementation and finally the evaluation of an entire process. In this article am are going to

cover the decisions I recently made about business, the decision-making process, its

effectiveness and the likely challenges that were experienced.

The business decision

Having had an opportunity to run a small business enterprise in my hometown, there

were some aspects that I noted were not good in running that business. This problem that made

the enterprise not to be competitive as such was because of the labor issues. Most of the

employees working in this business are not very skilled and this, therefore, has led to poor

performance of the entity. I had initially decided to go for cheap labor to keep the enterprise

running because I had no enough capital to hire very experienced professionals with the aim of

cutting down the operational costs. When starting a business, it is essential to ensure that the

operational costs are a minimal while, on the other hand, you ensure that the profit margins are

optimal (Mardani et al. 2015).

However, after a couple of years of operating the business, I realized that it could grow

even further on if some few things were changed. Some of the fundamental aspects that I

identified were employees’ welfare and development as well as the working environment. About

these issues, I finally decided to ensure that the working environment was very conducive, their

social welfare was also looked at as well as regular employees training and development. The

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Running Head: EVALUATION OF BUSINESS DECISIONS Evaluation of Business Decisions Institution: Name: Professor: Date: 1 EVALUATION OF BUSINESS DECISIONS 2 Evaluation of Business Decisions Decisions making is a recursive process that takes place at a certain point and time where there is a need for changing the way a business runs to improve its efficiency and productivity. This is an area that requires a methodical approach in making the decisions that would spearhead the company as a whole. Therefore, a business’ success is dependent on the decisions made, their implementation and finally the evaluation of an entire process. In this article am are going to cover the decisions I recently made about business, the decision-making process, its effectiveness and the likely challenges that were experienced. The business decision Having had an opportunity to run a small business enterprise in my hometown, there were some aspects that I noted were not good in running that business. This problem that made the enterprise not to be competitive as such was because of the labor issues. Most of the employees working in this business are not very skilled and this, therefore, has led to poor performance of the entity. I had initially decided to go for cheap labor to keep the enterprise running because I had no enough capital to hire very experienced professionals with the aim of cutting down the operational costs. When starting a business, it is essential to ensure that the operationa ...
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Tags: management writing