EXAM Q ANSWER

Question 1

Experts advise that most catastrophes occur in orgs. as a result, from a series of small problems or mistakes. As a new entry level manager, how might you apply this understanding to help your organisation avoid making major mistakes? Use appropriate theory around managerial decision making to answer this question. (25marks – max 400 words)

Answer 1

Introduction:

Experts assert that major organisational catastrophes often stem from a series of small problems or mistakes. As a new entry level manager, understanding and addressing these minor issues proactively is crucial to prevent significant organisational errors. By exploring relevant theories of managerial decision making and their practical application the organisation will be able to identify and mitigate any small issue the organisation may face before they culminate into major problems.

Define:

Strategic Management involves decisions and actions used to formulate and implement strategies to provide a competitive advantage. Managerial Decision making is the process by which managers select and implement these strategies through various models and frameworks.

Theory:

Example:

Problem:

Solution:

Advantages:

Disadvantages:

Conclusion: