Critiquing Prior Decisions Made Unit

You have just been
promoted from front-line supervisor to be one of the firm’s senior managers.
During your business education, you learned that the primary role of a manager
is to make good decisions. As a supervisor, you had frequently been making
routine decisions, but you realize that decision making for the overall company
can and will have far greater impact on the company and its employees.

Your boss, the chief
executive officer (CEO), realizes that you do not have much practice in this
higher level, decision-making process and has asked you to write a memo
describing your understanding of how to make important decisions.

Your memo should
address the following questions:

• Describe
  at least 3 criteria that would determine whether the manager is making
  good decisions. What should be done to better assure that you are
  making a good decision?
• In
  the realm of decision making, what are assumptions? Rather than use a
  dictionary definition, cite several specific assumptions that would go
  with any real-life decision you have made or have seen made at a
  company at which you have worked.
• Given
  the importance of proper assumptions, your boss asked you to assess the
  accuracy of certain business assumptions and what could you do to test or
  confirm the credibility of them. The following were major assumptions
  for each firm:
  • An automobile manufacturer’s assumption that the
    demand for SUVs would continue because gas prices would continue to
    rise 
  • An airline’s assumption that there was a need for an
    airline that provided no added amenities

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