Managers make numerous decisions on a daily basis. For some, the best choice is easy or straightforward to determine. If a machine breaks down, you either need to repair it or replace it. In an increasingly interconnected and complex world, however, the best decisions can often be unclear. Consider where you would stand on the following scenario:
A company has developed a new product for which there is a great demand. The consensus of the leadership team is that the company should capitalize on this opportunity and hike up the price to generate a 300% return on each sale. They feel that, as long as the marketplace is willing to pay for it, then there is no problem, especially since this would help solve recent discussions of layoffs due to declining sales. Only one person in the leadership team voices disapproval of this approach, saying that this is a greedy action that would rip off customers and go against the company’s values. The person feels that—despite what it would mean for the business—the product should be priced to generate a 40% return, which is an average return for the company’s products.
examine a tough decision you have had to make in the past. You will reflect on the factors you used to make that decision and determine whether you would make the same choice if faced with the same set of circumstances again.
· Identify a time you had to make a tough decision related to work. This should be a time when the right course of action was not immediately apparent or clear-cut. There may have been differing points of view, each with some validity, or perhaps there were some special circumstances in the situation that made the correct and ethical choice less obvious.
· Consider the values, guidelines, and rules that you used to make that decision.
Post a synthesis of a difficult work-related decision you had to make, including how you might approach the situation in the future. Specifically:
· Describe the circumstances surrounding the difficult work-related decision you had to make. In your description, include details about the options you were weighing, why the decision was difficult, et cetera.
· Explain the guidelines, rules, and values you used to make the decision.
· Using the Learning Resources for support, explain how you would approach the situation if it happened again. Would you handle it differently or take a similar action, and why?