In addition to understanding the proper implementation of each decision-making process, familybusinesses can make sound business decisions by recognizing the importance of several stepswhich include: embracing necessary change, taking steps to understand family members and how tobest communicate with each individual, determining in advance what will be the process ofaddressing a lack of unanimity, and not thinking of decision-making con?ict as the same thing asrelationship con?ict.
Sources:Banda, Brent. “Strategic Decision Making in a Family Business.” Banda Marketing Group. 2013.
Rivers, Wayne. “The Paradox of Family Business Decision-Making.” Family Business Institute. 2009.-decision-making.htmlHofstrand, Don. “Making Family Business Decisions.” Iowa State University: Extension and Outreach.2013. Case AnalysisLearning Objective:11-01 How canpeople integraterational andnonrational modelsof decision making?
Learning Objective: 11-04 How do I decideto decide?
Di?culty: 2MediumLearning Objective:11-02 It’s hard to berational. What arethe biases that get inthe way?
Learning Objective: 11-06 What are thepros and cons of group decision makingand the various problem-solving tools?References
1.Award: 10.00 pointsProblems? Adjust creditfor all students.Learning Objective: 11-04 How do Idecide to decide?
Learning Objective: 11-06 What are thepros and cons of group decision makingand the various problem-solving tools?
Other samples, services and questions:
When you use PaperHelp, you save one valuable — TIME
You can spend it for more important things than paper writing.