For every business to make positive progress in the market, it has to have a good decision making strategy. In today’s competitive world, every business is seeking for leaders who will be able to make viable decisions for the business. In this respect, numerous organizations have been established whose main function is helping other business organizations make good decisions with respect to their operations. One of these organizations is the Bull Company. The company deals with development of technological equipments that help organizations in making good decisions within their companies. For decades, Bull’s mission has been to develop information and communication technology that would best help business organizations in making viable decisions. It is its vision to ensure that in future there is development of more environmentally-friendly technologies.
The Bull Company is determined to ensure that business organizations fully utilize the available knowledge. The company understands that the main asset in business management is information. The more organizations access better information, they more they are likely to make better decisions. The company is aware of the great information available within the internet and that is why it is determined to ensure that business organizations are able to tap this information and make better use of it in improving their productivity (Bull, 2010, Par. 2). As a result, the company endeavors in developing information systems that supplies decision making bodies of various businesses with the necessary information to help them make decisions on matter affecting their businesses. Some of the products developed by the company include the latest development of the mobull container as well as business intelligence systems (BI). Mobull container has been developed to facilitate in storage of information and data gathered during day to day operations of the business. However, its major development is the invention of business intelligence system. Building on its longtime experience in development of information systems, the come has come up with a business intelligence system aimed at improving decision making processes in business institutions. The system is capable of collecting information from all departments, change it into knowledge, making it possible for businesses to understand, predict and respond to problems effectively. A good example of the system is one used in Michigan Department of Community Health. The system helps agencies in monitoring services and costs associated with different patients in various departments. As a result, the hospital has been able to reduce fraud, conduct accurate data analysis, Identify programs that are cost-effective and forecast some of the public health needs and priorities in the coming years. The company has good knowledge when it comes to development of business intelligence infrastructure. The system comprises of servers, storage space as well as security mechanisms. To ensure that the system is more productive, Bull Company works in conjunction with numerous companies to ensure that they have established an efficient infrastructure. These companies include Microsoft, Oracle and Business Objects among others (Bull, 2010, Par. 4).
Through the help of this system the process of decision making appear to go through several steps. These are file drawer system supplies the decision making team with all the data that have been collected during business operations. The data is then passed to data analysis system that helps in coming with clear information regarding operations of the various departments of tasks within the business. No action can be taken in the business without having to consider its implications. As a result, collected information is taken through accounting and financial models that highlights some of the results of possible actions. Effects of these actions are then estimated through a series of simulations in the representation model. Optimization model is then employed to help an organization determine the viable steps to take. This model highlights some of the optimal steps that a business can take. Finally suggestion model helps the business to come up with specific decisions for a specific task (Bull, 2010, Par. 6).
Decision making frame
Human beings are greatly influenced when it comes to decision making by the manner in which various alternatives for the same decision are presented. This is referred to as the framing effect. There is need for every manger to have various interests in heart before making any decision affecting their business. This helps in ensuring that they are not blamed when their decision turns unproductive to the organization. For Ron to make a decision of buying the additional options to the production equipment they had purchased from Big Machines Inc., he passed through a series of steps in determining the benefits of these options to the company. After the idea was presented to them, he realized that the options were costly to their company. However, he made considerations of the long-term benefits of the options to the company. Realizing that the options could be of benefit to the company in future, Ron decides to go on and purchase the options. The diagram below represents a flow chart of his decision frame.
In this line of thought Ron made minimal considerations on effects of the options to other staffs within the company. Another frame that could have made Ron take an alternative way in making his decision is one that looks into the number of people that will be affected by his decision. The number of people that will be affected by his decision would make him change his decision if it appears that his decision will lead to negative effects on people (Bowett, 2009, Par. 3).Deciding on what to do for you versus doing for a group absolutely change the available options for a person. This would mean Ron has to gather extra information before he decides to buy the options. He needs to put into consideration the effects of and how people will react to his decision.
For Ron to come up with a decision of buying the options, his decision was greatly influenced by the salesperson. The options turned out to be costly for the company to buy but he still ended up deciding to buy them. The manner in which the salesperson presented her argument regarding the benefits of these options lured him to making this decision. Despite one being influenced when making decisions affecting a business organization, there are some moral considerations that one is supposed to put into considerations (Bowett, 2009, Par. 5). This will help in ensuring that his or her decision does not face resistant from other staffs. It is imperative to consider the number of people that will be affected by your decision. Go deep into looking into their cultural beliefs. Decisions that violate some cultural beliefs of some staffs will definitely not go without being opposed by these staffs. It is important to ensure that decisions made within an organization do not discriminate against some staffs based on race or gender.
Bowett, R. (2009). Organization – decision-making in business. Web.
Bull. (2010).Bull launches third initiative in its 7i program: ‘Facilitating decision-making. Web.