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Decision Making and Business Performance

Eric J. Bolland and Carlos J. Lopes

This breakthrough study examines how business decisions explain successful and unsuccessful performance. Real world and academic research is evaluated, including interviews and cases studies, to create a model of how decisions and performance are connected for businesses of all sizes. Recommendations are made to optimize decision making and projections about the future of decision making and performance are provided.
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Chapter 2: Decisions

Eric J. Bolland and Carlos J. Lopes

Extract

Choices and decisions are differentiated. Steps of deciding and choosing are presented. The manager’s role in decisions is discussed. Roles of entrepreneurs, disturbance handlers and resource allocators are explained. The number of business decisions is shown. The types of business decisions such as programmed and non-programmed are presented. Also, decision making levels are described. From practice, tips on decision making from practitioners are enumerated. Examples of strategic decisions in small companies are given. Also, examples of strategic decisions in medium and large sized companies are also shown. Considerations for all sized businesses in decision making are offered. Common themes of academic and practical sources on decision making are described. Type I and Type II thinking about decisions are described. The evolution of corporate decision makings is reviewed and the Carnegie model of decision making is explained.

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