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Week 1 Mgt/230 Essay

420 words - 2 pages

Decision Making Process
Ashley Lopez
MGT 230
University of Phoenix
September 26th, 2013

The decision making process used by the student is one which focuses on the pros and cons of the decision needed to be made and potential consequences of the decision whether they are positive or negative. When purchasing a new vehicle the student had to base her decision on the financial obligations it would take in order to be able to afford the new car and whether or not it would take from other financial obligations she already had.
The first process in the student’s decision making process was to identify ...view middle of the document...

The cons of purchasing a new vehicle for the student was that the new vehicle’s payments would be more than her current vehicle which meant less money for luxury items and the increase in cost of insurance for the new vehicle. The pros clearly outweighed the cons in this matter. The second step was to determine which vehicle would be most suitable for the student and hr child. Once the student chose the vehicle she wanted, she then searched the area for the best deal, although not sacrificing quality for price, she in time found this deal she was seeking and was able to obtain financing that was within her means. The student then purchased the vehicle and has been satisfied with her decision.
The students decision making process is similar to the one described in the textbook. The student identified the decision to be made, evaluated information of pros and cons as well as making and implementing her decision. If the student had used the exact decision making process described in the text, she would have still made the same decision.

It is important to follow a decision making process that best fits the needs of one’s own life. When making any decision pros and cons should be identified and evaluated in order to understand the potential negative and positive outcomes of the decision to be made.

Reference
Bateman, T. S. (2011). Management: leading and collaborating in a competitive world (9th ed.). New York, New York: McGraw-Hill

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