Decision Making ModelDecision Making ModelModel 2AbstractIn this paper I am going to explain a decision making model using a situation from my current workplace. This situation will be a manager having to make an executive decision on whether or not to pay an item that is being presented by a non customer.
Model 3In a decision making model there are different phases to help guide a situation where it may be difficult to decide a result at the very moment. According to the text, a decision making model has four basic steps. The text book believes it is to gather information, analyze the options, evaluate the options, and implement a decision. This decision making model is going to be compared to a particular situation involving a manager at a bank having to decide whether or not to honor a check being presented by a non customer.
For instance, the first step to take would be to gather as much information as possible, and prepare you to make a purpose statement. It is important to understand the entire situation that needs to be solved. This means involving others where necessary and using all the resources available to understand the problem. An initial look into the financial part of the problem is also important. A lot of companies are focused on production, and anything that gets in the way of this would decide how quickly the problem needs to be solved. This is why a teller would bring a questionable item to their manager. They need a second opinion and the hierarchy structure shows the manager has experienced the situation before, and feels comfortable making a decision by gathering all the information.
The second step would be to analyze the options. It is essential to remember there are several ways to handle a problem. It may be easy to just assume one way out of an issue. This step helps evaluate what resources may need to be utilized to solve it. The manager typically starts analyzing the information they took in from step one. Whether
Model 4this is looking at the signature card, calling the customer, or seeing the established relationship of the account holder.The third step in the decision making model would be evaluating the options at hand. This means to gauge how the solution is going to come about. Obviously financials are important when a company is involved so taking a look to see exactly how much is affected and at what rate. Sometimes a model is used to help map out the cash flow and changes involved to it. The manager is going to see how much the check is, and can the branch afford the loss. If the check in question is twenty dollars, the manager might see it fit to pay it and move on with the other customers rather than spend
The Customer:
The next step in the process would be to see how much of your account balance is due and to where the cash in it is going. This could be a simple card such as a debit or credit card, or some type of smart card, or financial advisor you can refer to. The manager is going to have to look at an example that shows how much of it could fall into this category.
The Customer:
You are going to look at a bunch of things from the customer’s perspective and figure out how much they would pay, where the cash is coming from, and at what rate on both ends. You even have to try and think of some models that look at whether or not the change is going to impact the cash flow at the current point.
The Solution:
The solution to this, as you may recall, is to compare the amount and how it is being paid and at what rate down-linked. This is an incredibly useful, cost-effective method from a financial standpoint, and a good step in any business that needs to measure the amount and rates of what someone expects to pay.
Why don’t you just do this? Well how about this:
There aren’t many big banks that will offer a customer a credit card. If you want to get in on the trend a more traditional bank like Fitch is probably the better card. And if you have some savings you can call Chase for advice.
Why don’t you just buy what you’re getting?
Yes, a credit card is actually a form of payment, in that it can be used either for cash payments or for other things. This means that you pay off your account like any other financial check out of the gate. You can use that money to fund your investments (with credit cards for example).
And there’s no fee if you can’t get cash out of the bank.
You could buy a home, something that you bought for $100,000 and had it sold for $5 million at the height of its fame. You wouldn’t get a bank account where you had to pay for your purchases and to get it fixed. I mean it’s possible to get to a point where it’s the money you put down to pay up on your purchase, but ultimately the cost will just be for the money you put out of it.
With these methods, the value of your savings is all reduced to $100,000, even though all of the savings you had over the course of the purchase.
This isn’t necessarily the end result of cash flow issues. If you decide to invest in small businesses and other asset classes that aren’t well managed yet, you will lose some