Thursday, September 17, 2009

Factors affecting Decision-Making

New technologies and better information distribution have resulted in more alternatives for management.
So many new technologies have presented so many different tools, strategies and alternatives. This affects decision making becuase there is alot more to consider.

Complex operations have increased the costs of errors, causing a chain reaction throughout the organisation
An error in a decision can ripple through an organistion very quickly these days.

Rapidly changing global economies and markets are producing greater uncertainty and requiring faster response in order to maintain competitive advantages.
The world moves fast and decision must be made quickly.

Increasing governmental regulation coupled with political destabilization have caused great uncertainty.
The need to be ready for anything - govt mandates

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