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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 10: Deciding and performing in the future

Eric J. Bolland and Carlos J. Lopes

Extract

This chapter begins with a look at the past history of businesses with a focus on its changing environment which are consequential for decision making. The decline in unionization is a factor. The growth of capital power compared to income power is also a factor. Composition of the American workforce is more diverse than ever, meaning a variety of thought in business decisions. Consumer empowerment will be a factor as consumers can make more informed decisions, especially using social media. Communication technologies will become even more prevalent and accessible. There will be individualization of consumer products. Within business, there will be more continuous business decision making as incremental adjustments to decisions occur. Artificial intelligence will play a role. People will work together more cooperatively even though there will be more homework done. Globalism will continue to be a huge factor in strategic decisions and culture will remain a great influence on the nature of organizational decision making.

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