Factors affecting the quality of decisions

Question 1

What internal factors can affect on making a decisions?

Answer 1

• Employees
• Time available
• Experience
• Information
• Technology
• Finance
• Company policies
• Risk taking

Question 2

Employees:

(Factors affecting decisions)

Answer 2

They may be resistant to change and could potentially sabotage decision making

Question 3

Time:

(Factors affecting decisions)

Answer 3

If it doesn’t need to be done urgently it can be fully disgussed so a more informed decision is made

Question 4

Experience:

(Factors affecting decisions)

Answer 4

Higher skilled management in more likely to make a good decision

Question 5

Information:

(Factors affecting decisions)

Answer 5

The quality and quantity of information enables managers to be better decision makers

Question 6

Technology:

(Factors affecting decisions)

Answer 6

Up-to-date technology increases the productivity of the business so information is processed quicker

Question 7

Finanace:

(Factors affecting decisions)

Answer 7

Lots of finance allows more options for decicions however it doesn’t actually solve the decision making process

Question 8

Company policies:

(Factors affecting decisions)

Answer 8

Certain policy’s remove decision making options from managers

Question 9

Risk taking:

(Factors affecting decisions)

Answer 9

Some managers may be more likely to take risks than others

Question 10

What are the external factors that could affect the quality of decisions?

Answer 10

Political
Economic
Social
Technological
Envirnmental
Competitive