BBPP1103

PRINCIPLES OF MANAGEMENT
 TABLE OF CONTENT
CONTENT PAGE
NUMBER
PART I 3

1.0 INTRODUCTION 4

2.0 Comparison Between Decision-Making In Certain Conditions And 8

Uncertain Conditions That Occur In The Organisation. 10

3.0 Analysis Whether Decision-Making In Risky Conditions Takes Place In 11

The Chosen Organisation. 13

4.0 Discussion On the Three Types of Group Decision-Making Methods by 14

Providing Relevant Examples from The Chosen Organisation. 18

5.0 Discussion On the Three Types of Group Decision-Making Methods by 19

Providing Relevant Examples from The Chosen Organisation. 20

6.0 Summary 22

PART II 23

Class Participation

References 26
1.0 INTRODUCTION

The restaurant that I used to go are, McDonald, as my family members are loved to eat
fast. So, we always prefer to Mc Donald’s three time a month. Thus, this restaurant is a
franchise type which Hs been established on December 1980, the greatest worldwide fast-
food business came in Malaysia 43 years later. McDonald Corp. granted Golden Arches
Sdn Bhd a licence to open a McDonald's restaurant in Malaysia. After 26 years, they now
have 185 franchise locations across the country. McDonald's has produced around 7000
job opportunities in Malaysia since its inception. The 'I'm enjoying it campaign' was
introduced by the corporation in 2003. McDonald's launched its McDelivery service in
Singapore in 2005. In 2006, the company stated that it would include nutritional
information on all of its product packaging for the benefit of customers.

Furthermore, these are the world's leading fast service restaurant chain, with over 36,000
locations worldwide servicing over 70 million people daily in over 100 countries. In
Malaysia, McDonald's serves about 13.5 million customers per month in over 320 outlets
around the country. McDonald's employs over 15,000 Malaysians across the country,
offering career, training, and development possibilities. According to McDonald's history,
the majority of their revenue came from hamburgers, which were offered for a nominal
price of 15 cents. The restaurant grew in popularity, and the McDonald brothers began
franchising their establishment in 1953. Neil Fox purchased the first franchise and
launched the second Mc Donald's restaurant in Fresno, California. It was the first to use
the Golden Arch logo. The third and fourth restaurants, respectively, opened in Saginaw,
Michigan and Downey, California.

FIGURE 1: Company Logo

1.1 Mission and Vision
Every company has a Vision
or Mission Statement. A vision
statement should be short,
clear,
vivid, inspiring and
concise without using
jargon, complicated words
or concepts. It
represents the corporation
guiding principles. It subtly
indicates the businesses the
firm will
pursue and the customer needs
it will seek to satisfy. The
vision statement also allows
the
employees to clearly adhere to
the standards set up by the
business unit and work in as
per
the guidelines framed by the
company.
1.1.2 Vision
To be out customers’
favourite place and way to eat.
Mission and Vision

Every company has a Vision or Mission Statement. A vision statement should be short, clear,
vivid, inspiring and concise without using jargon, complicated words or concepts.
It represents the corporation guiding principles. It subtly indicates the businesses the firm will
pursue and the customer needs it will seek to satisfy. The vision statement also allows the
employees to clearly adhere to the standards set up by the business unit and work in as per the
guidelines framed by the company.

Vision

To be out customers’ favourite place and way to eat.

2.0 COMPARISON BETWEEN DECISION-MAKING IN CERTAIN CONDITIONS
AND UNCERTAIN CONDITIONS THAT OCCUR IN THE ORGANISATION

Firstly, the management of a firm in a business organisation is tied to a shared purpose of

executing strategic management that will allow the company to have a competitive edge.
Strategic management is the art and science of designing, implementing, and evaluating
cross-functional decisions that enable any business to achieve its goals. As previously said,
one of the most crucial aspects of having a successful and efficient strategic management
system is the ability to make strategic decisions. Making decisions is one of the many aspects
that might influence the outcome of a common aim.

In addition, theorists have traditionally viewed decision making as a multipurpose process in

which a problem is identified, solution objectives are defined, a preadmission that is, a
decision about how to make a decision is made, alternatives are generated and evaluated, and
an alternative is chosen, implemented, and then followed up on. This form of rational
decision-making model requires that the decision maker is aware of the problem, knows that
a decision must be made, has a set of alternatives, and a criterion for making the decision, but
these are substantial assumptions. An ideal model of decision making also presupposes that
the decision maker is aware of all feasible alternatives and makes a decision after carefully
considering them all.

Moreover, gathering information, creating common goals, uncovering managerial alternatives

to choose a specific plan of action, and implementing the plan are all part of the decision-
making process. The organization's management will be able to choose the most appropriate
strategy to adopt in order to make the company more competitive through this method.
Furthermore, the decision-making process is recognised as a critical aspect in successful
strategic management since it allows the organisation to have an effective solution for a
certain problem or issue. To maintain the company's strength in the future, the company must
be able to make strategic decisions. Effective decision making is one of the critical
components that will assist the organisation in achieving its main goal and objectives. This
solution is advantageous in that it can assist the company become more competitive and
survive in the marketing climate.

Even though decision making is supposed to be the most important aspect of strategic
management, the process of making decisions is also seen as a challenging task to manage.
Most of the time, decision makers in a firm have difficulty deciding on solutions to a specific
problem because they are afraid of not achieving the expected results. The challenge stems
from the fact that some decision-makers make decisions quickly without carefully assessing
what is truly required in the scenario. As a result, even if the decision-makers' intentions are
excellent, the outcome may be contradictory.