Decision Making

1
Decision Making Communication

• AG BM 460
• James Dunn

2
Introduction

• Communication essential to decisions
• Required to
• Gather information
• Make recommendations
• Develop support
• Get financing
• Disseminate decision

3
Gathering information

• Who has key information?
• How will you include them in decision process?
• Source only
• Collaborator
• Their decision
• Internal external sources

4
Make recommendations

• Often called to make recommendations
• Business memo
• Your future with company involved bright or dim
• You must provide alternatives and pluses and
  minuses of each
• And a concrete recommendation why
• Decision usually made at higher level
• They may have specialized information or other
  objectives

5
Develop support

• Sometimes a coalition required peers or rivals
• Also need to bring employees along cut down
  second guessing
• When do you tell people?
• Mergers
• downsizing

6
Get financing

• New ideas often need money
• Bankers like to see business plan
• See that you have thought things through
• Considered potential problems

7
Disseminate decision

• Once decision is made, need to tell people
• Employees
• Shareholders
• Customers
• Fairness
• Good business
• Morale

8
Randys Dilemma

• Parents call
• Brother graduating in Florida June 5
• Wife pregnant with first baby due May 20
• Money short
• How do you decide?
• What information do you need?
• Who should you talk to?

9
Second decision

• Baby late born June 2
• You have tickets not refundable
• Do you go or stay?
• How do you decide?
• What information do you need?
• Who should you talk to?

10
Concluding Comments

• Essential to good decisions
• Gather information
• Gather support
• Inform people
• The Hidden Bummer Factor!