Essay on Decision Making : An Essential Role For The Success Of A Business

Essay on Decision Making : An Essential Role For The Success Of A Business

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Decision making plays an essential role to the success of a business in the contemporary business society. Thus, any organization or business that wishes to succeed must be careful in its decision making. For instance, Nike company is always keen with it decision making; it consults considers various factors before making a decision. For example, a business decision that has been made by the Nike organization and has resulted in the great result is the signing of Michael Jordan in 1984 (Beauchamp, Bowie, & Arnold, 2004). This decision was crucial in sports marketing history due to the following highlighted reason. The Nike’s company founder Phil Knight signed this deal for $250,000. However, in the recent interview, Knight revealed that signing of Michael Jordan was one of his best decisions since it helped the Nike Company to grow into a 30 billion dollar Company.
On the other hand, several ethical implications are associated with this decision of signing a deal with Jordan. Foremost, Knight realized there are many positive values associated with this deal to the Nike organization and the people working in this company. The deal has resulted in great positive results, which have seen this company rise to great heights. Thus, the decision to make a deal with Jordan has played a significant role as one of the best investments Company has ever made. Subsequently, this decision was crucial to the entire Nike family due to the following key reasons. Firstly, since the decision helped this company to grow, this implies that the welfare of its workers was significantly improved (DeTienne, & Lewis, 2005). Therefore, the decision made by Knight had a positive ethical implication to workers of the Nike organization since it helped them t...


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...t more customers, maintain a positive image of the organization as well as attracting more talented people to work in such organization. Therefore, critical thinking is a crucial tool in the successful application of the CSR by organizations. Hence, organizations with management that critical thinks before making a decision, that organization usual succeeds just like the case of the Nike Company.


References
Beauchamp, T. L., Bowie, N. E., & Arnold, D. G. (Eds.). (2004). Ethical theory and business.
Blowfield, M., & Frynas, J. G. (2005). Editorial Setting new agendas: critical perspectives on Corporate Social Responsibility in the developing world. International affairs, 81(3), 499-513.
DeTienne, K. B., & Lewis, L. W. (2005). The pragmatic and ethical barriers to corporate social responsibility disclosure: The Nike case. Journal of Business Ethics, 60(4), 359-376.

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