What kind of formal decision making model does your organization have in place that allows risk-related information to be obtained or generated by the individuals in your organization in order to make a decision?
• Describe the system in detail, the steps within the system, and the tools and stakeholders involved.
• Evaluate the current system. What are the pros and cons of the system? Are there any blind spots in the system?
Reading for this week:
• reading:
o Chapter 1: What is Strategy and Why Is It Important?
• Article:
o Verma, Deepika. (2014). Study and Analysis of Various Decision Making Models in an Organization. IOSR Journal of Business and Management. 16. 171-175. 10.9790/487X-1621171175.
• Discussion Question 2:
Search the Internet for business news articles that are no older than one month old. Find an article, video, or audio clip that classically embodies the reading for this week on “ethics, corporate social responsibility, environmental sustainability, and strategy” and how this affects decision making in business.
In your discussion post:
• Post the article, video, or audio clip
• What is the context of the article?
• What key facts should be considered?
• What alternatives are available to the decision-maker?
• What would you recommend — and why?
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