Reflection 2 / For WIZARD KIM

The success or failure of any business is most reliant on the type of decisions that are made within the company or organization. As such when making a business decision there are several steps that can be used to evaluate the decisions. First is the ease of implementation whereby the decisions made should be easy to implement although some decisions are complex in nature they should not be far-fetched but rather have ways in which the decision can be implemented. Second is the cost whereby the overall cost of implementing a decision should be as minimal as possible. Third is the decisions ability to be modified, scaled and flexed as such the decision made should not be highly fixated but rather allow room for modification and scalability. Fourth is assessing the decisions risk levels although businesses face risks all the time I the risk level of a decision should be minimized as much as possible (Cox, 2015). other key steps to undertake is clearly defining a problem whereby the views of others concerning the issue can be sought so as to gain different perspectives of the problem. Additionally, the decision made should be in line with the business strategic agenda and also after identifying a solution, other alternative solutions can be drawn so that there are several solutions and the best of them is implemented (Lannon, 2012).

In order to evaluate it the decision was ethical, it would necessitate an evaluation of the decisions ability to sustain and generate must, show respect, responsibility, fairness, and caring. Additionally, by filtering the consequences and evaluating whether it violates any ethical principle and eliminate any unethical options that may arise (Josephson Institute of Ethics, 2016).

Cox, A. (2015). Choose the Right Decision Criteria. Retrieved, from https://netmind.net/choose-the-right-decision-criteria/

Josephson Institute of Ethics. (2016). Making Ethical Decisions: Process. Retrieved, from https://blink.ucsd.edu/finance/accountability/ethics/process.html

Lannon, R. (2012). 8 Steps to Making Better Business Decisions. Retrieved, from https://www.batimes.com/articles/8-steps-to-make-better-business-decisions.html