• Research Paper on:
    Management Processes; Decision Making and Analysing the External Environment

    Number of Pages: 9

     

    Summary of the research paper:

    This 9 page paper examines two linked subjects; the decision making process and examination of the external business environment. The first part of the paper considers the commonalities of most processes and discuses several decision making models. The second part of the paper looks at the use of business analysis models including Porters Five Forces, SWOT and PEST analyses. The bibliography cites 10 sources.

    Name of Research Paper File: TS14_TEAanalysis.rtf

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    Unformatted Sample Text from the Research Paper:
    or reactively to internal and external influences. These two processes are inextricably linked as decisions have to consider the internal and external environment. Often the external environment may be the  hardest factor to comprehend with many variables and potential apparent unrelated influences. In this paper we will examines the way in which decision processes operate and the way that the  external environment can be analysed as input for the decision making process on an ongoing basis. 2. The Company We will assume that the company we are advising is  a small to medium size manufacturing company, making electrical components to supply the automotive industry This is a very competitive market with the buyers holding a high level of power  over the smaller and more fragmented suppliers. We will assume that the company produces high end components and employees a total of 150 staff on shift work and a further  30 sales and administration staff. The company has some effective competitive advantages with the technology and processes they use, but management are not competing efficiently. This means they need  to understand the way they should be approaching decision making and how to assess the external environment. So they can readdress strategies and decision when needed. 3. Decision Making  Decision-making is an important aspect of any commercial organisation. By looking at the different frameworks it becomes apparent that the process that is  used will depend on a range of factors, not only that style of the decisions maker, but also the context in which the decision is being made and the nature  of the decision itself (Pettigrew, 1990). Despite this, all process will have similar stages, even if the contents and relative important of each stage may vary. To survive the company 

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