BUSINESS DECISION MAKING

Business Decision Making

Table of Contents

INTRODUCTION3

EMERGING CONCEPT OF DECISION-MAKING3

WHAT COULD THE GROUND RULES BE?5

ETHICAL IMPLICATIONS OF THE DECISION5

BUSINESS ORGANISATION6

SWOT ANALYSIS OF BFF LTD7

MANAGEMENT DECISION MAKING8

MANAGEMENT DECISIONS AT BFF LTD9

INFORMATION SYSTEM AND MANAGEMENT DECISION SYSTEM9

MANAGEMENT INFORMATION SYSTEM10

CONCLUSION11

RECOMMENDATIONS11

REFERENCES12

BIBLIOGRAPHY13

Introduction

Barletta's Fine Foods (BFF) Ltd operates from King's Norton in south Birmingham and supply food products to various retail outlets and restaurants. The company has performed well in the past and has ambitious growth plans for the near future; however there are problems in various functional departments of the company that have hindered its growth. Top management is determined to enhance the performance as well as the efficacy of the business by adapting a strategic decision support system (DSS) that exploits recent advances in the Information technology.

This research makes an attempt to formulate various strategies for BFF Ltd aimed at enhancing the organisational efficiency and performance. The paper first dwells on the concept of Business organisation in context of BFF Ltd and moves on management decision-making process across the organisations in general and in BFF ltd in particular. The role of information in decision-making is discussed at length. The paper moves on to different kinds of Information System (IS) and how they affect decision-making and how using these information systems might benefit BFF LTD in pursuit of their strategic objectives. The paper ends with logical conclusions and recommendation for BFF Ltd.

Emerging Concept of Decision-Making

The term often used to describe the system or principles by which we choose right from wrong is ethics. Conflicts in ethics arise when one person or a group of people impede the beliefs of another person or group of people. (Gore, Murray & Richardson 1992, 18-29) It would not be possible to decide who is right or wrong when a conflict arises, but it is our moral responsibility to resolve the dilemmas to the best of our ability. This paper is going to explore the topic of ethical decision-making and establish ground rules for the process and analyze possible ethical implications that may arise. What are the ground rules?

Making an ethical decision, at times, can be extremely difficult, as emotions tend to hinder ones judgment. For example, if a husband came upon his wife being beat to death, his first impulse would likely be to bring as much pain to the attacker as the attacker brought to his wife. On the other hand, the husband would know that would not be the ethical thing to do. For that reason, the process of making an ethical decision should be similar to making a normal decision. There are five possible steps that can be taken in order to ensure an ethical and reasonable decision.

The first step is to clarify the issue and determine precisely what must be decided. This involves gathering as much information as possible and clearly recognizing the problem. At this step, one should be forced to develop at least three ethically justifiable options and determine which ethical principles and values are involved. The next step is to evaluate the ...