Business Practices Essay

the case describes the ability and capability of the business to realize its long term goals and objectives through making proper decisions that enables it to optimize its strengths and resource consumption while utilizing the available opportunities in its work environment (Bechara, 2003).

Some good decisions do not affect the overall business performance in any significant way but its decision making process gives a good opportunity for the CEO and management to offer training which motivates employees and encourage their career development (Bennis et al., 2005). This is only possible if the employees are involved directly in the decision making process. Employee inputs in management of business are valuable for its success since each employee has the potential decision which is well-reasoned for successfully implementing positive change in the organization. Conclusion 2: Thus, any insignificance choice that management makes presents a better chance for improving the business skills, which renders decisions very good for the business (Bechara, 2003).

The organization that is not capable for making better choices cannot become great organization in the competitive environment even if it is a good company from its face value. Such a company not only suffers in terms of financial results but also discomfort of its employees. Without good decisions, employees feel dissatisfied with the company by been stuck not knowing the direction to follow, only trapped inside a depressing vacuum (Loe et al., 2011).

Business decision is therefore good for the employees to feel sense of direction which motivates them to put more efforts to achieve the organizational goals and objectives. Business decision set the phase for the company on how to become successful by effectively deciding on where it

wants to go, how it will go there, who will take it there and the means it will use to get there (Bennis et al., 2005).

Business decisions are vital for its survival. Everything in the living society is about decision making since failure to make decision is equivalent to deciding to fail.

\Decision making helps the business to fully utilize available resources thus enabling it to realize its set goals and objectives (Loe et al., 2011). Resource utilization decisions involves decisions relating to workforce, machinery, raw materials, time factor as well as useful methods and target market. If business fails to make good decisions, it will suffer operational inefficiency and ineffectiveness which in turn chase it out of the market. Decision making in the business provides the rational for facing the common business challenges and problems and offer means of providing the solutions.

The business decisions set the guidelines for formulating the best business strategies which enables the business achieve its mission and vision statement thus regarded as much important and good (Bechara, 2003). In this case the business officials decides on the best marketing plan for its products as well as deciding on the best practices to attract more market share. Such practices which might be decided on may include among them technological innovativeness, public relation practices, promotional aid, trade exhibitions and advertisement.

Such practices are only possible with well thought off and reasoned business decisions to guarantee its performance for the betterment of the business rather than increasing the operational expenses. They would also help the business realize its goals and objectives quickly. For the organization to be successful, the decisions that it makes contributes the

larger portion towards its success than the efforts that the management and the employees deploy. Business decision is therefore a necessary tool for success (Bennis et al., 2005).

Deductive and Inductive Reasoning

I have extensively used inductive reasoning to describe how business decisions on specific elements of the business leads to the overall decisions for the business as a whole. For example decisions resource utilization leads to overall business operational efficiency. Deductive reasoning on the other hand is used to pin out how outcome of the business can influence the decisions made at the departmental levels (Pélissier and O'Connor, 2002).

References

1. Bechara, A. (2003). Risky business: emotion, decision-making, and addiction. Journal of Gambling Studies, 19(1), 23-51.
2. Bennis, W. G., & O’Toole, J. (2005). How business schools lost their way. Harvard business review, 83(5), 96-104.
3. Loe, T. W., Ferrell, L., & Mansfield, P. (2011). A review of empirical studies assessing ethical decision making in business. Journal of Business Ethics, 25(3), 185-204.
4. Pélissier, M. C., & O'Connor, K. P. (2002). Deductive and inductive reasoning in obsessive? compulsive disorder. British Journal of Clinical Psychology, 41(1), 15-27.