Value Topics Inc,: Decision Making Models Memo

Scenario:

For the past 5 years, you have been working as an Account Manager for a company named Value Topics Inc. Value Topics Inc., which is a medium-sized men's apparel manufacturer, has recently expanded their business services by implementing a new product line of men's business suits. Because of the expansion, your company, Value Topics Inc. is in need of superior managerial decision making and they are flirting with the idea of promoting you from within.

With that in mind, you explain to your manager, Mr. Myers, that you are ready and interested in the promotion. He explains to you that Value Topics Inc. requires all Account Managers' that wish to be promoted, to pass a series of assignments which are reviewed and graded by the Board of Directors. He also tells you that the assignments will test your knowledge and skills of managerial decision making in rational choices, alternative solutions, value models, judgment heuristics, and complex approaches.

Assignment:

Your manager, Mr. Myers, has just received an e-mail from the board of directors informing him that he has the responsibility of creating your next assignment for the promotion. Because Mr. Myers is behind on his work around the office, he gives you the assignment of preparing a memo for the next staff meeting. He explains to you that the memo should be sent out to all the employees prior to the staff meeting, and it should include a description of your experience using the 3 decision-making models (rational choice, competing values, and judgment heuristics). He also explains that the memo should outline the complexity of the 3 decision-making models.

The 3 decision-making models are as follows:

• Rational choice
• Competing values
• Judgment heuristics

For this assignment, you must submit a memo consisting of 900-1,300 words in which you discuss your experience using the 3 decision-making models.

For full credit, you must address the following in your memo:

• Discuss in detail the rational choice model.
• Discuss in detail the competing values model.
• Discuss in detail the judgment heuristics model.
• Explain your experience using the rational choice model.
• Explain your experience using the competing values model.
• Explain your experience using the judgment heuristics model.