THE COMPLEXITY OF MANAGEMENT Research Paper Example | Topics and Well Written Essays - 2500 words

THE COMPLEXITY OF MANAGEMENT - Research Paper Example e the business to compete with its competitors and also deal with the other four factors of competitiveness as outlined by Michael Porter, which include threat of new entrants, threat of substitute products, threat of bargaining power of suppliers and the threat of bargaining power of customers. In management, the threat of bargaining power of the employees is also a relevant factor that any business executives must be able to strategically manage in order to secure the future of the business. Business management is therefore any process that is geared towards safeguarding the interests of the business (Stacey, 2000). This indicates that business management is a complex process and cannot be defined in one sentence. The processes of business management are many and varied and in most cases require a team of experts in various fields in order for it to be complete. However, the core functions of management are as follows; Like has been identified, management is a process that involves the present as well as the future. In this regard, forecasting becomes a very important part of business management. It is only by knowing or forecasting the future that the business managers can prepare for it. Any business that fails to forecast, or provides misinformed forecasts will have a troubled future and any problems in the future are likely to affect the organization in an adverse way thus making it hard for the business to be resilient against poor market conditions. This kind of scenario was seen in the previous global economic recessions, especially America where even big multinationals had to either close their doors of business or had to file for bankruptcy. Good business managers must take this function with seriousness in order for them to be able to navigate the business across all kinds of economic weather (Center for Complex Adaptive Agent Systems, 2007). They must carry out due diligence with regard to the future and anticipate any problems that may arise in the

Application of DECISION MAKING tools to MORTGAGE Industry Professional Coursework

Application of DECISION MAKING tools to MORTGAGE Industry Professional Experience - Coursework Example In making critical decisions, the people who are in positions of leadership often run into conclusions without inquiring well from professionals who can avert the damage that can be caused by such an occurrence. A good example is the doomed merger between AOL and Time Warner in the year 2001. The merger happened despite the advice of the subordinates on Gerald Levin who was at the time the Chief Executive Officer at Time Warner Inc. Levin who was obsessed with leaving a legacy at Time Warner Inc. decided to go ahead and authorize the merger despite the warnings. This is a good example of the consequences that can follow the making of irrational decisions. In this work, we shall look at the decision making models that have been developed to help in making the best decisions especially in our field. This will be addressed in the context of the mortgage industry which is our section of interest. By first comparing them we shall be able to figure out the best and discuss it. There are a number of decision making models that can be used in the mortgage and loan financing industry. First it is important to understand this field so as to see how the idea of using decision models and techniques can be implemented. First, the mortgage loans are availed to the people who want to try their hand in real estate so they can be able to purchase the property they want. In the legal mechanism that need to be followed to validate this process, the property stands as the security in case the borrower is unable to pay back the loan (Gaffney, 2014). This is a business that has been so successful in the recent past and thriving in it requires a bit of critical decision making. The amount of cash that is required to establish it means that there is no space left for gambling and every step made counts. Company A has wants to form a merger with Company