Project Capstone Management Memo on Decision Making (use as a guide)

Feb 3rd, 2012
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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 as

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NAME:INSTRUCTOR NAME:DATE:The responsibility of a manager is to achieve business and organization's goals, visions and objectives. He is the person who has to conduct, manage and supervise the entire organization. He controls resources and expenditures in an organization. A manager has to analyze, report, give recommendations and develop strategies on how to improve quality and achieve desired level of output. In this way, manager is responsible for growth and increase in the organizations' finances and earnings.Having the above responsibilities on manager's shoulders, it is vitally important that manager make decisions that are fruitful for the organization as a whole. Manager must put his own interest backward and should only consider the interest of the organization. To verify the credibility of the manager's decisions, several criteria could be outlined against which it could be determined that whether the manager is making good decisions.The first criteria against which the credibility of the decision can be determined may include financial perspective. The financial impact of manager's decision can provide justification regarding the appropriateness of th

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