Essay on Decision Theory Within the Global Marketplace

When a problem arises in an organization such as the dispute among the employees, the employer must be ready to make some difficult decisions to settle the differences and restore peace within the organization (Lynam et al., 2007). In the pharmaceutical production, it is very critical that the decision-making process is strategized so that the best decisions are made. For the right decisions to be reached, it is prudent that external views be accepted so that the decision is made from a more comprehensive perspective (Bass, 1993). The analogically based reason should be adopted for a better decision to reach in the production of pharmaceutical as you acquire the services of the experts in a determination of proper decision (Mardani et al., 2015). Being fair in the decision making is vital so that a valid result is attained (Bazerman & Moore, 2013).

In solving problems in the organization, the affected people must be involved in the decision-making process so that the viable decision is reached at the end of all the discussion, after listen to both sides of the complaints, it only prudent that the parties be judged on the available evidence (Doubravsky & Dohnal, 2015). After listening, try to connect the dots that are by applying the correct solution to the problems. The most common means of solving the complex issues in the organization is by summoning the entire staff and talking out the solution without having a parallel talk about the matter that resulted into the problem (Harrison, 1995). This is because not involving the entire staff in the solving the problem may lead to some members not agreeing to the decision made at the end of the problem-solving processes. When the whole staff members are involved, mutual understanding is reached, and the problem is amicably solved (Dinh et al., 2014).

References

Bass, B. M. (1983). Organizational decision making. Richard D. Irwin.

Bazerman, M. H., & Moore, D. A. (2013). Judgment in managerial decision making (8th ed.). Hoboken, NJ: John Wiley and Sons. ISBN 13: 9781118065709

Dinh, J., Lord, R., Gardner, W., Meuser, J., Linden, R., & Hu, J. (2014). Leadership theory and research in the new millennium: Current theoretical trends and changing perspectives. The Leadership Quarterly, 25, 36-62.

Doubravsky, K., &Dohnal, M. (2015). Reconciliation of decision-making heuristics based on decision trees topologies and incomplete fuzzy probabilities sets. Plos One, 10, 1-18.

Harrison, E. F. (1995). The managerial decision-making process (Vol. 4, pp. 1-39). Boston, MA: Houghton Mifflin.

Lynam, T., De Jong, W., Sheil, D., Kusumanto, T., & Evans, K. (2007). A review of tools for incorporating community knowledge, preferences, and values into decision making in natural resources management. Ecology and society, 12(1).

Mardani, A., Jusoh, A., Nor, K., Khalifah, Z., Zakwan, N., &Valiour, A. (2015). Multiple criteria decision-making techniques and their application: a review of the literature from 2000-2014. Economic Research, 28, 516-571.

Sakakibara, H., & Kimura, K. (2013). Experimental study on negotiation process in the participatory decision-making process in a community. Group Decision and Negotiation, 22, 71-84.

Sevastyanova, I., &Stegniy, V. (2015). Managerial decision making oriented towards achieving results. Asian Social Science, 11(7), 371-375.

Witte, E., Joost, N., & Thimm, A. L. (1972). Field research on the complex decision-making processes-the phase theorem. International Studies of Management & Organization, 2(2), 156-182.