MGMT303 Discussions Week 2

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MGMT303 Discussions Week 2
Managers, most business decisions are made under conditions of either risk or uncertainty. What is the…

SKU: MGMT 303 Business Decisions Performing SWOT Analysis  Categories: , Tags: , ,

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MGMT303 Discussions Week 2

MGMT303 Discussions Week 2

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Business Decisions 

Managers, most business decisions are made under conditions of either risk or uncertainty. What is the difference between risk and uncertainty (please cite your sources)? In your opinion, is it easier to make a decision under a condition of risk or a condition of uncertainty? Why? Give an example from your experiences to support your answer.

When it comes to risk and uncertainty, which would be easy to determine in an organization?

A condition of certainty exists when the decision-maker knows with reasonable certainty what the alternatives are, what conditions are associated with each alternative, and the outcome of each alternative. Under conditions of certainty, accurate, measurable, and reliable information on which to base decisions is available.

The cause and effect relationships are known and the future is highly predictable under conditions of certainty. Such conditions exist in…

Performing a SWOT Analysis 

Using your SWOT analysis selected organization, identify that organization. What are the competitive advantages of the organization you identified? Explain how you arrived at that decision.

The competitive advantage of Coca Cola is outstanding, and it takes those points to really stand out in the market and get noticed.  Dell is pretty competitive and eliminating the middle men makes Dell all the more alluring, so companies like Dell have to be on their toes.

The Strength of an organization depends on an individual’s vision, scope of interest, innovative & creative skills social skills, financial soundness and risk bearing capability. The weakness is a result of improper knowledge structured planning and distorted organizing. Opportunities can be derived from having an insight towards understanding your interest with the prevailing market conditions. Threats arise from lack of credibility, failed competitive strength, improper utilization of resources and failed understanding of the changing trends of market. I chose Coca Cola as my organization. A competitive advantage is the ability of a company to…