Decision Making Research Paper Example | Topics and Well Written Essays - 750 words

Decision Making - Research Paper Example Ron felt the cost of buying that additional equipment is higher. As the machine has been bought a year back inclusion of these items should be of some use. It should not incur an extra cost. The equipments have to be effective in improving the machine's performance. Ron hesitated to accept the deal in the beginning. If the item is bought, there should be some savings in the cost. The cost of the parts was higher. Although the sales person was explaining Ron about its uses, he was not sure of going in for that product. The sales person then explained Ron about its total cost. The cost seemed to be higher but the sales person then said the initial amount is high. But this investment will be of great use. The initial cost is more but the average amount of that equipment will amount to $1 per day. The executive said this cost will be less than the normal money spent for a soda can. Then Ron started thinking about its benefits. As it was impressive he thought investing some more on that machine will definitely help in the future. Hence he decided to buy the additional equipments. Ron's decision will help in the longer run of the machine, which is an advantage to the company. The decision taken by Ron will be beneficial as it ensures some advantages to the machine and the company. Any decision cannot be taken without analyzing its pros and cons. (Lynch 2009).Equipment cannot be bought since it will be of some use which may lead to some problem in the future. The way Ron handled the situation was correct as getting an item without knowing its purpose and use will not be of any help. As a production manager of a company Ron has some responsibilities of selecting and getting goods that should bring profit to the organization. It is difficult to come to a conclusion without thinking how far it will help the existing machine. In the beginning of the meeting Ron listened to the sales executive's ideas and her opinion about the equipment's use. Then he thought about the various criteria like cost and life of the machine. The presentation had the entire details of the item, the advantages and the features of it. It also showed the options and it clearly explained its usage. Then Ron felt the cost of the additional parts is higher than expected. The sales person started explaining that investing in this equipment will help in increasing the production and the average amount will be $1 a day. Ron then gave it a thought whether it will be worth investing a huge amount on a machine that has been bought a year back. Considering all these options, Ron finalized the purchase of that equipment. The major reason for buying this item is that it can increase the production and will help the company in getting more profit. Although Ron was hesitant to purchase the additional item, after listening to the executive's explanation he changed his decision. Decision has to be taken keeping in mind all its consequences and effects. Any decision may have either a good or bad effect. Proper analysis has to be carried out before making a decision. Decision is made depending on the situation and the issue. The decision made cannot be favorable for everyone in all circumstances. It may lead to improvement or adverse effects on the situation. In this scenario, Ron had to consider several aspects as any wrong step will land them in problem. Any decision cannot be taken as per an individual's wish. Especially in companies a decision has to be made only after