Business Decision Making Essays and Research Papers

Instructions for Business Decision Making College Essay Examples

Title: business decision making process

  • Total Pages: 2
  • Words: 546
  • Bibliography:0
  • Citation Style: APA
  • Document Type: Essay
Essay Instructions: Instructions - Answer the following 5 questions

Think about the approach your firm uses to assess the environment it competes in and undertake environmental scanning.

How does your firm evaluate its remote, industry, and operating business environments?

What are your firm?s strengths and weaknesses?

What opportunities, threats, and trends is your firm facing?

What is your firm?s competitive position in its industry today and in the future?

Evaluating the impact of the economy on your firm in the future is, as you have seen, an important component of this process.
What data and forecasts are readily available to you, and how would you acquire this data if it is not available?






Environmental Scanning: Remote and Industry

INTRODUCTION
You are responsible for developing a strategic plan for your firm. Firms, including yours, face a tough competitive environment. Planning for the future by completing detailed environmental assessments leads to smart decision making, often allowing the firm to seize a dominant position in the market because it has a better understanding of the future than its competitors. Examples of this type of detailed assessment leading to competitive advantages include the automaker who, by studying the economy and demographic trends, developed the minivan and as a result gained a significant advantage in that market. Another example is the developer that anticipated the recent strength of the housing market and demographic trends pointing towards the aging of the baby boomers and acquired a developer that is well known for the development of master-planned, age-restricted communities.

Effective environmental scanning positively influences business decision making because the evaluation of the remote, industry, and operating business environments provides a framework for successful planning. This form of assessment allows the firm to accurately evaluate its own strengths and weaknesses and assess the overall viability of its industry and its competitive position within the industry. In order to plan for the future, the firm will also have to evaluate the strength of the economy in the future and what it means for the firm.

AN EXAMPLE OF HOW AN ORGANIZATION HAS ACTUALLY USED THIS WEEK?S LEARNING OBJECTIVES
The developer identified previously purchased over 10,000 acres of land north of a large metropolitan area in the western part of the United States in the middle of the 1990s as part of a plan to prepare for an anticipated strong housing market in the first years of the new century. How did the firm arrive at this decision? First, the firm recognized its strength: the planning and development of large master-planned communities. A weakness the firm was confronting was the need to acquire large parcels of land to undertake the development of large master-planned communities. A real threat that the firm was facing was missing what it perceived would be the opportunity to successfully undertake large development projects. Finally, key opportunities and trends were apparent to it because of the results of its assessment of the remote environment.

It is this assessment of the remote environment that paved the way for this firm to succeed. The firm carefully analyzed population and demographic trends, economic forecasts related to the overall strength of the national and local economies, and interest rates. The firm, using the analyses of its staff and consultants, and data and forecasts readily available online (see the Implications for E-Business section) concluded that the time was right for this significant investment. The local and national economies were expected to be relatively strong during the next 10 to 15 years. Interest rates were expected to be relatively low. Population forecasts and demographic trends were positive, indicating expected population increases in the western part of the United States. This type of detailed analysis allowed the firm and this development to succeed in the future.

HINTS FOR A READING STRATEGY OF THE ASSIGNED MATERIALS
One again, as you start your reading assignment and learn about a new application of economics, part of your task is to become acclimated to the terminology and key concepts. The reading assignment this week helps you with that. As you read the material, you will find opportunities to apply your learning in this class to your workplace. The analysis of the impact of cultural diversity, demographic trends, supply and demand, macroeconomics, and international trade on your firm will facilitate the completion of an environmental scan that assists your firm with its strategic planning. Practically, what you will see with environmental scanning is the opportunity to apply your learning of economics to the analysis of a real-world problem, namely successfully planning for your business.

As you complete the reading and participate in the classroom discussions, think about how your firm completes its environmental scans to formulate sound business decisions. Identify areas for improvement and your participation in the planning process. The process of environmental scanning is important for all firms, small or large. The accurate assessment of the remote, industry, and business environments facilitates the decisions restaurateurs make regarding where they should open a restaurant, the developer discussed previously determining to purchase and develop a large parcel, and the multinational firm?s decisions regarding entering new markets.

IMPLICATIONS FOR THE GLOBAL ENVIRONMENT
Environmental scanning facilitates making sound business decisions in a global economy. Today, due to increasingly open economies and the resulting increases in global competition and opportunities, firms must consider foreign and domestic opportunities, threats, and trends as they plan. For example, firms that recognize the growing economies in countries like China, India, and Russia can identify opportunities to expand into these new markets. New suppliers are available. Opportunities to lower costs are possibly available. At the same time, new competition emerges. The small firm?for example, the restaurant?will recognize these trends as fruits, vegetables, and other ingredients increasingly come from abroad. The manufacturer will be able to identify opportunities to sell its product in new markets or explore sourcing opportunities abroad. These opportunities also lead to threats from firms abroad. Clearly, the firm today does not compete in a vacuum and the accurate assessment of this reality leads to smarter business decisions.

IMPLICATIONS FOR E-BUSINESS
Undertaking environmental scans requires the collection of data, a process facilitated by the Internet due to the ready availability of economic data and forecasts online. The United States Census Bureau is an excellent source of data related to population growth and demographic trends. The Federal Reserve contains a large database of historical economic data and economic forecasts. Another excellent source of historical economic data is the United States Department of Commerce?s Bureau of Economic Analysis, especially data related to GDP and other more industry-specific data. At the Web site for the Bureau of Labor Statistics, you will find comprehensive databases related to prices, including consumer prices, retail prices, and producer prices, that help to assess the costs of doing business. Labor market data, including employment, the unemployment rate, and wages, also is available at the Bureau of Labor Statistics. Economics forecasts for a series of economic indicators are available at the Web sites of the Board of Governors of the Federal Reserve System and other Federal Reserve Web sites, the Congressional Budget Office, the Mortgage Bankers Association of America, and the National Association of Homebuilders. The University Library also includes a series of resources that are valuable to students learning this material, including EIU Country Intelligence and EIU Data Services, which are good sources of economic data and forecasts.

IMPLICATIONS FOR ETHICS
Undertaking environmental scanning facilitates strategic business decision making. An important component of this process should include an assessment of the culture and demographics of the markets the firm competes in or will potentially compete in. Given this fact, it is important to understand the ethical and cultural characteristics of the customers in these markets, an issue that can require great sensitivity in foreign markets or as new customers in domestic markets emerge. In addition, careful planning can easily be undermined if the firm experiences ethical lapses, as the public will reevaluate the firm and its products with this in mind.

SUMMARY TO GET YOU STARTED ON THE LEARNING PATH
You have learned how effective environmental scanning positively influences business decision making. Planning for the future requires the firm to accurately assess its operating, industry, and remote business environments. The example of the developer presented previously illustrates this. Once you have read this Read Me First and the chapters in the text and have participated in your class discussions, you will have learned to identify opportunities for you to assist your firm with its planning.

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Title: Request AMBER111 The Signature Assignment show a demonstrate mastery material b apply knowledge real world Required Reading Jennings M 7th Edition 2012 Unit 6C Assignment 8 Signature assignment Paper Health South The Scrushy Interpret Implications Health South Scrushy Of CEO's accused misdeeds recent years Enron WorldCom interesting HealthSouth CEO Richard Marin Scrushy

  • Total Pages: 7
  • Words: 1917
  • Sources:10
  • Citation Style: MLA
  • Document Type: Research Paper
Essay Instructions: Request AMBER111

The Signature Assignment should show how you:

(a) demonstrate mastery of the course material, and

(b) apply this knowledge to the real world.

Required Reading:
Jennings, M. 7th Edition (2012). Unit 6C

Assignment 8 Signature assignment: Paper- Health South: The Scrushy way
Interpret the Implications of Health South and Scrushy:
Of all the CEO's accused of misdeeds in recent years - at Enron, WorldCom, and elsewhere - by far the most interesting is former HealthSouth CEO Richard Marin Scrushy. A charismatic leader, Scrushy could get employees to follow him either through charm or encouragement, or outright intimidation. In 2003, the Securities and Exchange Commission accused in a civil law suit the HealthSouth Corporation and Scrushy of inflating the company?s earnings by $1.9 billion since 1999 (Securities and Exchange Commission, 2003). In separate criminal charges, 15 former executives pleaded guilty of participating in a scheme to fake corporate profits to meet Wall Street expectations.

Using Case 4.6, HealthSouth: The Scrushy )Page 183, and by utilizing a minimum of 10 peer-reviewed references and completing outside research, examine the HealthSouth and CEO Richard Scrushy case and its ethical issues. Discuss how ethics may have played a role in the government?s responsibilities to all parties involved in the case.

Provide a Table of Contents, an Introduction, Impact on Stakeholders, Outcome and Fairness of Punishment, Conclusion, and the Reference Section.

Length: 10-14 pages (app. 350 words per page)

Your paper should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards.

Assignment Outcomes
Compare and contrast the approaches of the parties who influence business decision making as it relates to ethics and of those who are influenced by their decisions.
Analyze the conflicting objectives of business leaders who influence business decisions.
Evaluate the actions that a company may take to meet ethical considerations relative to social performance, financial performance, and reputation.
Assess the extent to which social, ethical and public issues must be considered in internal and external stakeholder relationships.

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Sense of entitlement

Jennings (2004a) identified that many corporate cultures are less concerned about their fraud because of their philanthropic endeavors. These good works seem to blind them to their culpability and cause them to both "overestimate their ability and underestimate the risk of being found out" (p. 17). This sense of entitlement constitutes two of the factors that Jennings identifies as "Wild West behaviors" (p. 13) that are common to organizations that ethically collapse; A "culture of innovation like no other" and a "culture of social responsibility" (p. 17). She notes that "the attitude develops slowly as the other factors of iconic status and high levels of success consume the individual right up to a feeling of invincibility" (p. 17). This is amply demonstrated in the behavior of Richard Scrushy, who despite all of the evidence arrayed against him continues to proclaim his innocence of any wrong doing.

Jennings (2004b) identified common red flags that would point to corporate counsel that an investigation into the accounting of the firm might be in order. She indicated that in HealthSouth's case legal counsel "fits the inaction mold" (p. 45), and "like executives at WorldCom, Enron, and Tyco, executives at HealthSouth, particularly Scrushy, lived lavish lives" (p. 46). She concludes that "the presence of many elaborate perks is a red flag all can see" (p. 46). It is these perks that, according to Neeley & Boyd (2010) "encourage[s] executives to take excessive risk with other people's money" (p. 548).

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Title: the role of behavioral economics in business decision making process

  • Total Pages: 5
  • Words: 1548
  • References:5
  • Citation Style: APA
  • Document Type: Essay
Essay Instructions: Writing Assignment - Week 7 Behavioral Economics

Analyze the role of behavioral economics in business decision making process.
? Be sure to include your role as a consultant in your analysis.
? From our past seven weeks of topics, select four topics and analyze the role of behavioral economics in the business decision making process.
1.Week 1: Business Management and Strategy/ Strategy Planning Development and Strategic Positioning
2.Week 2 2 - Distinctions Between Budgeting and Financial Planning
3.Week 3: Corporate Finance, Budgeting and Financial Planning
4.Week 4: Financial Ratios and ROI/ Profitability Ratios and the Importance of ROI
5.Week 5: Strategic Marketing/ Creating a Sustainable Corporate Brand
6.Week 6 Mergers, Acquisitions, and Downsizing/ The Motives Behind Mergers, Acquisitions, and Downsizing
7.Week 7: Behavioral Economics/ The Role as a Consultant
? Be sure to include your role as a consultant in your analysis
? Please remember to use headings to assist in organizing key points, for this size of paper, headings are needed (be sure to label page 2 with a title and be sure to label your conclusion with the heading Conclusion). APA Format
? You may use any information but at least 2 citations must be from assigned readings.
? {I will also attach drafts of previous turned in work that you may use}

? Week 7 Readings & Assignments
Textbook

Aaker, D. (2001). Developing Business Strategies (6th ed.). NY, NY: John Wiley & Sons., Inc. Chapter 15 & 16

Berman, K. & Knight, J. (2008). Financial Intelligence For HR Professionals. Boston, MA: Harvard Business Press.Part Eight

Fernandez-Huerga, E. (Sep2008). The economic behavior of human beings: The institutional/post-Keynesian model. Journal of Economic Issues (Association for Evolutionary Economics, 42 (3), 709-726.

Website (additional topic information)

Behavioral Economics
http://behavioraleconomics.blogspot.com/

Society for the Advancement of Behaviorial Economics (SABE)
http://www.smu.ca/iarepsabe09/welcome.html

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References:

References:

1) Shleifer, Andrei (1999). Inefficient Markets: An Introduction to Behavioral Finance. New York: Oxford University Press. ISBN 0-19-829228-7.

2) Rabin, Matthew (1998). "Psychology and Economics." Journal of Economic Literature 36 (1): 5 -- 44

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Title: QNT 351 QUANTITATIVE ANALYSIS FOR BUSINESS

  • Total Pages: 2
  • Words: 637
  • Works Cited:2
  • Citation Style: MLA
  • Document Type: Research Paper
Essay Instructions: I need to do the following:

• Write a 300-word summary that addresses the following criteria:
• Define statistics.
• Identify different types and levels of statistics.
• Describe the role of statistics in business decision making.
• Provide at least three examples or problem situations in which statistics was used or could be used.

Here are two references I am to use - could you please try to use these first before you use any other references?


Statistics for Business and Economics, 11e
ISBN: 0116 Author: James T. McClave
copyright © 2011 Pearson Education, Inc.

Basic Statistics for Business & Economics, Seventh Edition
Chapter 1: What Is Statistics?
ISBN: 4470 Author: Douglas A. Lind, William G. Marchal, Samuel A. Wathen
copyright © 2011 McGraw-Hill Company




There are faxes for this order.

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References

Petryni, M. (2010). How Is Statistical Research Used in Business Decisions? Retrieved January 17, 2013 from http://www.ehow.com/info_8000423_statistical-research-used-business-decisions.html

Calkins, K, .G. (2005).Applied Statistics. Retrieved January 17, 2013 from http://www.andrews.edu/~calkins/math/edrm611/edrm01.htm

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