Management - Elements of Decision Making Essay Example | Topics and Well Written Essays - 750 words

Management - Elements of Decision Making - Essay ExampleManagement helps to all overcome these problems at the time of qualification any effective decision (Monahan, 2000). In this paper, the complex problem of ethical interests especially in decision-making relating to superior assurance and determining competitive market harm will be taken into concern. Ethical Concerns in Decision-Making Every managerial decision presumes the performances of the organizations by a considerable level. In general, ethical concerns in decision-making require conflicts of interest in which individuals had to select and implement their own ideas. The issues relating to shareholders, customers as well as companies can be considered as one of the important ethical concerns in decision-making. Moreover, the other imperative ethical concerns particularly in decision-making encompass misuse of available resources, intimidating behavior of the individuals, discrimination, environmental issues, fraud, intellectual property rights along with secretiveness related issues. It can be stated these ethical concerns can harm the overall performances of a company by a greater extent (Ferrell, Fraedrich & Ferrell, 2012). operative Areas of Ethical Concerns in Decision-Making There are certain crucial areas of ethical concerns in decision-making. ... In this competitive market, the organizations often face the challenge to provide quality products at a lesser price. The organizations must ensure the deliverance of quality products to their valuable customers by considering the significant ethical concern of price. The decision-making about the ethical concern towards pricing might support an organization to compete with its chief business market competitors at large (Harinder, Attracta, & Jimmie, 2004). Competitive Market Marketing decisions that undertakes by distinguishable organizations are considered to be quite uncertain. It has been viewed that the organizations determine competit ive market price while offering their different products to the customers with the intention of attaining superior competitive position over the chief business market participants. With regard to the ethical concerns in decision-making, the organizations should remain fair in setting the prices of the products (Erkan & Tunker, 2007). Critical Evaluation From the overall analysis, it can be comprehended that management plays an imperative role in the process of decision-making. It possesses certain critical barriers that could be overcome. The decisions that adopts by the managers on behalf of an organization ultimately observed to affect the purchasing behavior of the customers and its overall performances. In relation to determine the ethical concern in decision-making, it is quite important for the business managers to keep in headland the interests of the people involved with the company. Apart from these, the organizations also need to keep in mind certain other major aspects t hat include issues related to business, production as well as marketing that will ultimately benefit the company in the long run. In addition, the