Business

Business

Introduction

Decisions can be made because of perceptions or based on facts. While making decisions grounded on facts, the evaluation of reaching a conclusion based on the importance of the facts may be lost or the decision can be based on a structure that gives a neutral result. In business, decisions making must be given with evidences that the decision is a suitable one. Bazerman & Moore have established a structure for decision making that is applicable on any decision. The use of their model in business is useful since it applies an accepted methodology to a given problem and gives consistent, documented results. (Ball et.al, 2003)

Recent Business Decision

The recent business decision is to open a small shop starting with zero and invest a little amount.

Analysis of the Decision using Bazerman & Moore six steps as a guide

The six steps of the guidelines of Bazerman & Moore are as follows

Step 1 of the guide deals with the problem of the decision. The problem expected to be faced is the profit of the initial investment, which should be more than the amount invested. The solution for the problem can be determined by making feasibility reports of the investments and profits. This is my problem because I have invested a small amount and looking forward for a bigger profit and that's the purpose of the business.

Step 2 focuses on the goals that are to be followed. The goal is to earn a good amount of money by small investment. The second goal is to run the business smoothly, third is the expansion of the business in a short span on time. The objective of this business is only gaining profit and I can get success by working hard to make my business run.

Step 3 is to assign a weight to each of the goal. ...