Essay on Several Different Papers part 3
Essay on Several Different Papers part 2
Week 7 Decision making process
The decision making process is very important for the successful business development but often this process confronts substantial challenges, especially when family members come into business together and fail to decide their responsibilities and determine the essence of the decision making process. In this regard, referring to the case of the retail clothing store, run along with a family member, it is possible to recommend to determine exactly how decisions are made within the company and who exactly takes what decisions.
First of all, the decision making process should be collective that means that both family members take decisions. However, their authority should not overlap that means that they should take decisions on different issues. For instance, one family member is responsible for suppliers and delivery of products to the clothing store, while another is responsible for sales, human resources and public relations of the company (Masterson & Picton, 2004). In such a way, they should distribute different areas of their responsibility between each other. Thus, both family members will participate in the decision making process and will play an important part in this process. At the same time, such decision making model will be effective because family members will distribute their functions and will focus on their specific fields (Breneman & Taylor, 2006). As a result, they will not waste their time and efforts on other fields that will maximize their effectives in those areas, which they are responsible for.
On the other hand, such decision making model will decrease the risk of conflicts. As each family member is responsible for his/her fields only, then they do not intersect and they do not have the pretext and cause for the conflict. They just concentrate on their own work and decisions.
Nevertheless, the proposed model does not mean that there will be no conflicts at all. On the contrary, conflicts still are likely to occur because they comprise a natural part of any business. In such a situation, the prevention of conflicts is particularly important because conflicts can deteriorate the organizational performance. The conflict prevention and resolution should involve consultations between the two family members. What is meant here is the fact that they should find consensus to take the right decision that meets the vision of each family member. They should learn to compromise to make effective and fast decisions. For instance, if family members face a conflict over funding of the new promotional campaign or singing a contract with a new supplier, they should weigh both options and select the one that matches the current needs of the company, its mission, vision and marketing strategy. Therefore, if the company lacks supplies, the new supplier should be signed, while if the company has low sale rates, the company should rather invest into the promotion of its products and brand.
Thus, the conflict prevention is very important, while the resolution of conflicts should involve the close interaction and communication between both family members running the store. In this regard, the distribution of responsibilities and functions and, therefore, decision making processes will decrease the risk of conflicts and help the company to develop successfully.
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