Business Management Narrative Essay

Pandora Medal In terms of risk, uncertainty, and how its managers handled the company's challenges. What Is the current news on this company? The meaning of a business operating under conditions of uncertainty Is the lack of pertinent information and cannot estimate accurately the likelihood of different results of their actions. Pandora media provides internet radio services in the united States. Some of Pander's risks that would lead to the company's probability of success would be the uncertainty at the core of finance.

Meaning, even though Pander's music service has grown to 80 million registered users and a database of over 800,000. They still lack to generate sufficient revenue to turn a profit due to the economy. Managers handle the company challenges by modifying its original commitment to the free radio model, offering users an alternative. Listeners who would prefer to skip the advertising have an option to pay $36 per year for ad-free streaming of their music. 2) What effects does time pressure have on your decision making?

In what ways do you handle It well and not so well? The effect time pressure has on an Individual loud be the use of proper time management. For example. Your boss need you to pick up the slack for someone who took a sick leave you have their work as well as your. The best way to handle the situation is organization. Being able to accomplish doing your work and theirs without falling behind. I had a situation were I was on call working a IT position that required me to monitor a server for a fortune 500 level company.

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Hardware needed to be repaired overnight. Time management was key because I knew that if I got paged late at night I would have to prepare time to work he issue as well as has have enough sleep to work the next day. 3) Recall a recent decision that you had difficulty making. Describe it In terms of the characterless of managerial decisions. I can recall a situation working for IBM as a storage admit working a seventy Issue on a hardware server some ports failed causing failure to the internet between our service and their company.

I had to call a IT in another state where the company was located to schedule time to repair the problem. I designed an Microsoft excel design plan that needed to be approved by y manager in order to processed in resolving the issue. Being new to the company I took a lot of sufficient notes in order to be successful. This improved my personal growth within the company helping me design the plan for reviews and get approved by my 1st line manager for the process.

I also had to use my networking skills by listening and asking my co-workers if I needed answers. This is were my programmed decision were critical when It came to dealing with technology. 4) What do you think are some advantages and disadvantages to using computer technology In decision making? The advantages of technology are the Improvement of company relative cost. Also the company's overall business strategy meaning the important technologies to reinforce the company's competitive position.

The disadvantages of using computer technology are failure of hardware and software that is purchased by a company. Also having outdated technology that causes problems to compete with other companies as well as performance issues on company projects. 5) Discuss the potential advantages and disadvantages of using a group to make decisions. Give examples from your experience. The advantages of using group sections for business project would help give better perspective of the work.

Also the ability to use ready-made solutions or custom made solutions between the experience and non-experienced members of your group. For example, if you work in a pool environment for a company the advantage would be networking with your time to improve your skills for your Job position. The only disadvantage is someone in your group lacks the ability to perform at the level of the group members in order to successful finish work. Or a uncertain team member not being optimistic about the causing the group to fail.

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