The importance of analysis and analitical skills to the manager making Essay

The importance of analysis and analitical skills to the manager making decisions in business - Essay ExampleBusiness opportunity of get fit quickCompetition, coupled with change magnitude changes in the business environment, has combined to execute powerful impact on the way managers and their different organizations action businesses. In this regard, organizations have been forced to develop and implement the most sophisticated decision-making techniques in order to examine available resources are economically and optimally utilized.In order for business to get fit chop-chop and successfully, managers are required to explore the different available alternatives of decision-making. The alternatives should have the ability to outline, in the most good way, how the organization send word make use of the available resources in a way that differs from competitors and give returns that change the business to create competitive advantage (Casey and Capella University 2006). Availabl e resources in an organization can be used in ways that provide opportunity for the organization to achieve maximum utility. However, this is possible with selecting the best alternatives of decision-making as it pertains to resource utilization, environmental scanning, and goals to be achieved.Approaches of decision-making processManagement literature depicts that decision-making process can benefit greatly from the four main approaches that are generally used in making decisions. As a result, in order for decision-making process to be successful and productive, managers are either to select bingle or multiple approaches that include logical systems approach, contingency approach, quantitative approach, and the qualitative approach. Logical systems of decision-making are premised on the rationality essence that is needed to make decisions (Wysocki 2010). In this case, an individual (manager) is perceived to have rational clothe of stages that should be followed before arriving a t the appropriate conclusion regarding decision (Wysocki, 2010). Contingency approach on the some other hand categorizes or program alternatives that can be used to achieve decision goals (Sengupta and Bhattacharya, 2006). A line of work is presented to have different ways of solving it and this lead to development and evaluation of different ways of determination solution. On the other hand, quantitative approaches dictate that, decision-making process succeed when concept such as have management are adopted (Anderson, 2011). In this way, figures are seen to possess great ability of providing management with chances of determination solut