Mgt672 Decision-Making Techniques Help Your Organization To Run More Efficiently

Decision-making Techniques Name Course Tutors Name Date Decision-making Techniques help an Organization Run More Efficiently Abstract This paper we uses real-life examples to discuss decision-making techniques and their benefit in maintaining a competitive advantage in the global marketplace. We discuss specific techniques that help the organization run more efficiently and maintain a competitive advantage that aligns with Saudi Vision 2030. The discussion covers decisional empowerment of employees and the role it plays in creating and maintaining competitive advantage. The rational decision-making model is covered at length with discussions on the role of each step in the process and its contribution to competitive advantage. This discussion finds that due to unpredictability of events in the global market place and the dynamic business environment, cold logic might be unsuitable for most decisions. The paper recommends a combination of bounded rationality and insight-oriented decision-making processes as the most suitable decision models for maintain competitive advantage in the global market. Introduction In the current global economic environment, my organization is under increased pressure than ever before to be nimble and innovative. Contrary to popular thinking that innovation comes from research and development efforts, my organization approaches innovation from the perspective of ideas. We recognize