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Essay / Research Paper Abstract
This 14 page paper looks at how and why the ability to consider consequences and some characteristics of cowardice are positive traits in a business decision maker. The two issues are considered in the context of business decision looking at how it may occur and the potential benefits. The bibliography cites 16 sources.
Page Count:
14 pages (~225 words per page)
File: TS14_TEcowardd.doc
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Unformatted sample text from the term paper:
and foresight are often extolled as virtues for leaders and decision makers, with the ability to take risk and have a vision. However, the way that these decisions are made
should also be based on logic, there are a range of tools, such as Porters Five Forces framework which can be used to guide decisions helping to analyse an environment
and determine specific responses (Mintzberg et al, 2008). While the majority of literature looks at issues including analysis and then at the assessment of potential strategies with the assessment of
the alternatives against the analysis, in order to identify the most appropriate business strategy extolling virtues such as original thought the ability to take risks, based in the analysis, Sprenger
(2000) take an contrasting approach, stating that even the best of analysis will have little value unless it is undertaken with consideration of consequences and with a degree of cowardice
in the part of the decision maker. Gillispie (2007) sees businesses as transformation processes; businesses take inputs and through a transformation process create outputs. Mintzberg (et al, 2008; 2003)
notes that within business the making of decisions is also a process, as a result the way a decision is made sees inputs, a transformation process and the decision as
an output (Thompson, 2008). The collection of data and the analysis may be seen as the input and the decisions that are undertaken and processes used in making the decision
as the transformation process (Thompson, 2008). The way that the decision are made is the least understood aspect, while there are many rational decisions making model human nature has demonstrated
that there are also more discrete influences, including mood and personal outlook (Au et al, 2003), personal and social values and expectations (Carmon and Ariely, 2000; Cyert et al, 1958),
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