Decisions MGT/230 Management Theory Practice Decision-Making Process Essay

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DECISIONS

MGT/230 Management Theory Practice Decision-Making Process Paper Resource: Management: Leading & Collaborating a Competitive World Identify a time life make a personal professional decision buying a home, changing jobs, enrolling school, relocating state region.

Decision-making process in real life: Buying a new car

Buying a car is a serious decision. It is an expensive purchase -- for many people a car is the most expensive item they own, after their house. When I decided to buy a car, my first step could be called the 'pre-decision' or reflective process. I asked myself: do I really need another car? My old car had broken down, and based upon my calculations, the mileage of my old car, and the cost of the repairs, I decided that buying a new one would be more sensible and cost-effective in the long run.

My second decision involved a major aspect of my research that would affect my search: should I buy a new or a used car? On one hand, a new car is more likely to be reliable and not have preexisting conditions.

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On the other hand, a new car loses its value immediately upon leaving the car lot. "A new car can shed a third of its value in its first two or three years on the road. If you have financed the new car with a low down payment, you can easily find yourself 'upside down' on the loan, where you owe more than the car is worth" (New vs. used, 2012, Consumer Reports). I decided to buy a reasonably new used car that was not as expensive as a new car, but was still as reliable as a new car. I believed that if I bought a used car from a reputable dealer or seller that I could feel confident that I would be driving the car for many years.

Next, I began to research various models, to narrow my….....

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