Question

Managerial theorists claim that the difference between success and failure in business is often one decision. You make the right one you survive. You make the wrong one and you don't survive. Discuss fully?

Instructions

Students should respond with at least 250-350 words with their primary posts. Research should be used to substantiate their post. This should not be your own opinion (such as I think, I believe) but should be based on research from the textbook and journal articles.

Answer 1

Managerial theorist claim that the difference between success and failure in business based on one decision. I will support this theory as i know one decison in a business lead to end of the business. The decison which are taken by the manger is based on the strategies and analysis. If there is no planned strategy of the business then the decision taken by the manager will be not effective.Every business need strategy to grow. There should be a conceivable technique recognized containing the standards, guidelines and bearings. These standards will assist everybody with settling on an issue rapidly and legitimately. Choices made are then dependable and unfailing all through. Indeed, even the individual involving the littlest situation in the association will appreciate the decisions and decisions made by those having a place in top administration. They will be enlivened to add to the procedure and advancement of the gathering.

There are basically two impact of decision that manager makes-

1- Positive for the company- The decison plays important role in the company for example manager decide that they will launch one product in the market and with proper planning and strategies they plan one product which they are going to launch which will help the company to rise and earn more profit in coming year. With proper structure they launched a product and they opted various marketing technique and the product was so successful in the market that in few years it becomes number 1 product amongs all the competator brands. The decison taken by the manager was very effective for the company and this was the positive decison for the company.

2- Negative for the company- The decision plays important role in the company for example there was a manager and he decided to switch the method of selling product, firstly the sales person goes to each house and sell there product to them and now manager took a decision and change the selling method now the sales person have to make their sales through phone calls. This method was not effective in the company and company decreases its sale in 1 year only. Proper strategies and plan was not made by the manager and it result is negative for the company.

The above two examples shows the importance of decision making in the business and how decision plays important role in the business. Right decision will help your company to survive and wrong decision will leads to end.