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MGT 412 Saint Leo University Decision Making Environments Discussion

MGT 412 Saint Leo University Decision Making Environments Discussion

Question Description

I’m working on a business writing question and need a sample draft to help me study.

This is for discussion posts. A response needs to be written for both parts A and B. So a total of 4 replys. They need to be between 100-200 words each. Citations need to be APA.

Part A(1)

“The types of decisions people make depend on how much knowledge or information they have about the situation” (Render, pg. 65). The three types of decision-making environments are: decision making under certainty, decision making under uncertainty, and decision making under risk.

An example for me using decision making under certainty is when I decided to purchase an iPhone over an android. It is guaranteed that both mobile devices will produce what I need in terms of utilization but the iPhone provides more current software updates to keep the phone up to date.

An example of me using decision making under uncertainty was when I voted for who I thought should be booster club president in our unit. I based my decision on their speech and what they had to offer as president but I also realized that people could use different decisions to vote for someone else, ie.. popularity.

An example of me using decision making under risk was when I chose to invest in certain stock. There was no guarantee that I would make money off of my selection or loose the money I invested.

Reference

Render, B., Stair, R. M., Hanna, M. E., & Hale, T. S., (2018). Quantitative analysis for management (13th ed.). Harlow, England: Pearson

Part A(2)

The first type of decision making environment is decision making under certainty which means you have all the necessary information to make the decision and is aware of all the outcomes that come each option. In my own personal experience, our time searching for a house, we were given options that kept us in San Diego, where it would be close to my husband’s job but more expensive or further out to Riverside county where the cost is less expensive, more bang for the buck such as larger house, yard etc, but further away from my husband’s job. After reviewing all of the info and comparing, we chose the option furthest from my husband’s job and hasn’t regret the decision as we love our home, neighborhood, neighbors as well as the equity in our home after less than 2 years.

The second type of decision making environment is decision making under uncertainty, or lack of information. In decision making under uncertainty you will not have all required information needed on the outcomes. Because of insufficient information, the decision maker doesn’t know the future and not able to predict the outcome of every alternative. An example of decision making under uncertainty in my experience is marketing new Scentsy products once they are released and not knowing how many current or potential customers will want to purchase them as well as being unsure if the amount of sales will meet the goals set for the new products during that period.

The last type of decision making environment is decision making under risk. Decision making under risk is some knowledge of possible outcomes that might come out of a situation. An example of decision making under risk in my experience is selecting then purchasing stocks in hopes that it be a great investment and improve my net worth and financial portfolio.

Latham, A. (2015). 12 Reasons Why How You Make Decisions Is More Important Than What You Decide. Forbes. Retrieved May 13, 2021, https://www.forbes.com/sites/annlatham/2015/11/15/…

Tamimi, N. (2021, January 27). Decision Making Under Uncertainty. Medium. Retrieved May 13, 2021 https://towardsdatascience.com/decision-making-under-uncertainty-402a32300552

Part B(1)

There are numerous strategies that individuals, leaders, and organizations can implement to manage diversity effectively. Workforce diversity can be defined as the similarities and dissimilarities between members of the workforce in terms of race, religion, cultural background, and gender. A diverse workforce is essential for creating better decision-making practices and creating enhanced productivity among the team as well as increased superior customer service. The purpose of diversity management is “to create an inclusive work environment where all associates are empowered to perform their best” (Hitt, Miller, Colella, & del Carmen Triana, n.d. p.37).

A few components that unite to create the present diverse labor force are culturally diverse employees. These employees bring different perspectives and approaches to the team, for example “team members with knowledge of multiple languages can be an asset in an international based business or in communicating with certain segments of the domestic population” (Feigenbaum, E., 2018). Another component that would help promote a more diverse labor force would be race and ethnicity. This is one of the driving factors in diversity aside from religion and gender. Unfortunately, different ethnic and racial groups may face stereotyping when they attempt to work in an organization however, these individuals contribute to adding their value to the organization making coworkers and managers respecting their cultural differences.

References:
Hitt, Miller, Colella, & del Carmen Triana, n.d.). Fifth Edition. Retrieved from https://platform.virdocs.com/r/s/0/doc/385608/sp/17197678/mi/57051938?cfi=%2F4%2F2%2F8%2F8%2F8%2C%2F9%3A81%2C%2F9%3A81&menu=table-of-contents
Feigenbaum, E. (2018) About Cultural Diversity in the Workplace. Retrieved, 13 May 2021 from https://smallbusiness.chron.com/elements-diversity-workplace-3020.html

Part B(2)

Diversity in the text is defined as a characteristic of a group of people where differences exist on one or more relevant dimensions. i.e. sex, age, gender, race, sexual orientation, cultural differences and so on. Chapter 2 breaks organizations down to 3 different categories. Monolithic: Monolithic organizations are homogenous. They tend to have extreme segregation, with minority group members holding low-status jobs. These types of organizations actively discourage diversity, thus promoting heavy pressure to conform. The next category is Plural: Plural Organizations have diverse workforces, and take steps to be inclusive and respectful to people of different backgrounds. However, diversity is tolerated rather than valued and fostered. The last category is Multicultural: A multicultural organization is one in which the organizational fosters and values differences.

I believe for companies and organizations to effectively manage diversity, is they have to embrace it and educate their respective organizations of all the positives that come from a multicultural company. They need to escape the old mindsets where AAP (Affirmative Action Programs), were simply to comply and fill quotas, rather than embrace the uniqueness and talent that comes from diverse backgrounds. Instead of the employees assimilating to the norms of a company, have the company assimilate to its diverse culture to better understand its strengths and weaknesses. (Hitt, Miller, Collela, Triana 2017)

In Module 2, Julie Kampf, CEO and president of JBK Associates Inc., suggests steps to unleash the potential of a workforce. in “Seven Steps to Effective Diversity Management.” In this article she talks about yesterday’s management that viewed diversity simply as a matter of employment (Affirmative Action Programs) She talks about how focusing on just quotas, limits them from actually tapping into the potential of a diverse workforce. Kampf compares the workforce of 1996, where fewer than 10 of executives nationwide were responsible for diversity in the workplace. Today, nearly every Fortune 100 company has one. Under this new mindset, companies have thrived and so has their bottom line. In her article she defines successful diversity management as such: “Successful Diversity Management is about unleashing the rich and diverse potential of an entire workforce.” (Kampf 2011)

Works Cited:

Kampf, J.B. (2011) Seven Steps to Effective Diversity Management Diversity Journal.

Hitt, M.A., Miller, C.C, Collela, A., & Triana, M.D. Organizational Behavior 5th Edition Wiley. (2017)

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