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Decision Making and the Implication of Change
This paper will briefly identify, summarize and evaluate the ideas presented by Alfred D. Chandler Jr. He presents a solid analysis and in-depth look at the elements of modern decision-making and how change has influenced this practice over time. He shares his own personal experiences as an historian and analyzes how history has affected his choices in life. Chandler spends a great deal of time looking at the history of American Economics. He does not really say how the past will predict the future of the business world but he does reflect on what will influence change. He focuses more how if one looks at economic history, one can see an evolution or progression toward modern business practices.
This paper discusses the factor of change and its role in decision-making. In many ways, at the business level, decision-making is much like strategy as it can be complex. One must weigh out different factors and assess risk in order to have a fair idea if a decision is worth making. Chandler presents a strong argument that the evolution of economic decision-making is important for historical documentation purposes but he does not elaborate on other aspects.
Review and Analysis
He explains clearly how the Industrial Revolution spawned today's modern globalized market and corporate America's need for highly structurized organizations. I agree, today's business practices did not emerge overnight and it is clear the act of decision-making has played an enormous role in this shift. However, I believe his viewpoint is male gender-centric and dated. He does discuss the idea...
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