To complete this discussion, pick one of these companies: Intel, McKesson, or Wa

Question

To complete this discussion, pick one of these companies: Intel, McKesson, or Walmart, and explore their website to answer each of the below questions. Many times, the following website sections will contain the type of information required: about us, corporate governance/leadership, investor relations, sustainability/social responsibility, and media relations. If any of the pages or sections are not made apparent, you could also search for information using the company's search box which will sometimes provide a link to a page several layers into their website.

Enter the discussion and post your thread which should contain a separate, numbered response to correspond to each of the following items:

What are the three types of conditions under which decisions are made and how would each affect your ability to arrive at the best solution?

Use classical decision-making model to determine how to handle the risk/problem that you know of or perceive to exist at your chosen company (in other words, make a decision).

Choose two behavioral aspects and discuss how they would impact the final decision.

Assume that the above decision was to be made by a group or a team that you are responsible for managing. Describe the advantages and disadvantages of making this decision within a group or team.

Explanation / Answer

answer-

WALMART

introduction

WALMART is american based MNC which deals in chain of super & hyper markets in different different regions of the world.it is the biggest seller of the grocery in the world.the ceo of the company is doug mcmillan who is also the president of the company.walmart has more than 11000 store branches all over the world & it is also the 3rd highest company which provide employment.

the products which walmart deals in are movies-music,electronics,furniture,beauty,pet supply & mainly grocery etc.

1- the three types of conditions under which decisions are made-

the conditions under which any company or its manager makes decisions are-

2- above condtions & its affect over the ability of the company/manager to come up with best solution-

in the condition of certainity,the company has all the resorces & alternatives to make any decisions & also has the knowledge of its consequences. although this conditions occur very rarely but it affects the decision making in positive way. company does not need to do any extra cost in any kind of research or does not fear of its consequences.

for example- walmart is the one leader in selling grocery but they already know that their product is higher in quality & cheaper in cost than its competitors in the market. so they can make good decisions based on this information.

in the case of risk, where company has all the informations & its alternatives but fears of not knowing their consequences for that desiscion. basically, in every decision, there always a risk invovled but its the ability of the manager to estimate that risk with best of his skills,knowledge & experience. this factor helps to make manager to be successful in business life.

for example- walmart wants to enter into a new market of mobile phones. walmart has all the resources to do that but what it does not know the consequences of that decision beacuse there are already several business leaders presen in that product segment. so, its a risk which can genertae reward or loss.

for the case of uncertainity, where walmart has no idea about the decision alternatives & also its outcomes. wlamart has no surety what would be the decision & what would be its results. in this case company requires information as much as possible & creative team to take chance under uncertainity.

for example- walmart wants to enter into the business of public transport like airways,train etc but has no idea about its alternatives & what will be its impact over tha business. it is completely uncertain to the company.so, what company needs to do is gather all the relevant information from the market then come up with alternatives & choose the best solution.

in any of the above conditions, the creativity,skills,knowledge,leadership style etc of the company/manager are put to test while making any best decision.

3- decision making under risk or perceived risk to the company(walmart)-

according to my study, decision making involves the following steps-

all above steps are common to decision making process,so under risk the decision should be made like this-

step 1- define & analyse the situation- as the managers of the company are intelligent persons & act in the benefits of the company. they should analyse & defines the situation under risk. in case of mobile market, manager should define the decision for what purpose they are entering into this market.

step 2- find all the alternatives & eliminate the uncertainity- the next step would be to eliminate the risk & uncertainity factor to an extent & find all the information & alternatives to this decision.e.g. find the target market, competitors & their products,strategies etc.

step 3- Choose the best alternative among them- now, manager has to choose the best solution to make a decision.e.g. they want to target niche market or they want big share of that market or they want to increase thier consumer base etc.they should make the decision which can be cost effective & maximize the profit.

step 4 - make the decision- in this manager or company make the final decision & act upon that.

4- two behavioral aspects and discuss how they would impact the final decision-

According to me two behavioral aspects of the manager would be risk taker & conflict solver.

as a risk taker, every decision involved some degree of risk in it but it is the trait of any decision maker to take that risk. if the person always fears from the consequences of the risk then there is no hope for that person to be successful. risk taking helps the person to estimate the future possibilities to grow & thats why final descions is made.

as a conflict solver, every person in the company does not agree with the decision of the manager but it is the trait of his behavior to solve thier conflicts & come up with the final decision.

5- advantages and disadvantages of making this decision within a group or team.

advantages-

disadvantages-

there are some pros & some cons of making decision within the group.above points can describe those.

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