mnagment 3060

definition of a decision choice between two or more available alternative definition of decision making process of choosing the best alternative for reaching objectives rational decision-making process identify existing problem list alternative problem solutions legal restrictions unofficial social norms formal policies and rules moral and ethical norms discretionary area select most beneficial alternative implement chosen alternative gather problem-related feedback decision making tools expected value - an alternative is the income the alternative will produce, multiplied by its probability of producing that income decision trees - graphic decision-making tool used to evaluate decisions involving a series of steps group decision making disadvantages takes longer for groups to make decisions brainstorming group members state ideas group leader records each idea where group can read it ideas evaluated only after all have been recorded down grading...

types of organizations multinational - manufacturers in multiple countries international- manufacturer in one country  and sell in multiple countries domestic- manufacture and sell in one country global - change the company based on the culture - the country can have its own power and will run itself stages of multinationaliztin exports its products to foreign countries establishes sales organizations abroad license use of its patents and know-how to foreign firms that make and sell its products establishes foreign manufacturing facilities multinationalizes management from top to bottom multinationalizes ownership of corporate stock