Management Decisions
Throughout history business management decisions have been used to strengthen companies. Conversely they are often blamed for a company going bad as well. Few would argue that the decisions management makes when it comes to business has a vital if not the most vital impact on the outcome of that business. While most people are aware that management decisions encompass the internal workings of the organization such as overtime pay rates, productions scheduling and other elements that are crucial to the company's operation, many do not realize that there are also external elements that affect management decisions. Members of any management team must evaluate whether or not external events and issues will have a significant impact on their industry and if so what steps they can take to minimize any negative impact while maximizing any positive impact that may occur. Management decisions can be found at the basis of any thriving or failing business. Whether the company remains a mom and pop shop for local services or explodes into a national chain to be reckoned with, the driving force behind any business is the management decisions that are made(The 75 Greatest Management Decisions Ever Made By Stua
Apple computer made conscious management decisions about the product and the distribution of that product based in part on the competition for customers. One of the ways that the management handled the sudden drop in revenue was to ask pilots throughout the industry to take pay cuts until the economy and fear of terrorists could stabilize. The fact that airline carriers have managed to negotiate their way through the most traumatic events in United States history and still have companies is a testimony to how important evaluating external issues for internal decisions is in the management industry. One of the most important things that management must consider when evaluating external factors for internal purpose is the cost. Instead of going head to head in the market, Apple management examined the competition and decided the best way to compete was to go in a completely different direction. htm)There are many ways that external elements can have an impact on management decisions. "Almost overnight, the humble timepiece became a hot fashion accessory and the Swiss share of the worldwide watch market rose from 15 percent to more than 50 percent(The 75 Greatest Management Decisions Ever Made By Stuart Crainerhttp://www. it was a risk that paid off however, as Apple computers carved a niche in an already saturated market and continue to hold their own in many areas of business. Throughout history decisions have been made in business that will go down as classic because of the positive or negative impact they have had on the company. Opening its first retail store in 1925, Sears went on to become the world's largest general merchandiser(The 75 Greatest Management Decisions Ever Made By Stuart Crainer http://www. The average commercial pilot at that time made an average of $116,000 and was asked to take a pay cut 30 percent until the economy could stabilize and the confidence of airline passengers could be restored.
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