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Mgt/230 wk1 assignment

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Mgt/230 wk1 assignment

Purchasing an Apartment Purchasing an Apartment Decision During 2008 I decided to shift out of the place of my parents and decided to obtain an apartment for myself. I was earning $7000/month and I believed that I could easily afford a new house on rental basis out of my salary. The next step was that I looked up in the classified section of a newspaper for house being rented out. I found a listing stating that a house containing of two bedrooms was available on rental basis for $1000/month. Next I contacted the owner of the house and decided to meet up a day later. The house was well maintained and even fully furnished and it completely fit to my requirements. It was situated in a good neighborhood and seemed to be as the best option. I informed the owner about my wish to obtain the house and within 2 days, the house keys were handed over to me.
Decision Model Comparison
Bentham provided a six staged decision making model and asserted that this model can help in making an effective and efficient decision (Bateman, 2009, p. 98). The first stage of the model is to define the problem, which includes analyzing the problem. I had identified the problem which was to obtain an apartment on rental basis. But I did not clearly define it as I had not figured out what kind of apartment I needed and what should be the rent of the apartment. The next step is to figure out various solutions to a problem. I followed the next step as I looked through various apartments stated in the classified section of the newspaper. Next step is to conduct an evaluation of the options by conducting a cost benefit analysis of each option. I even skipped this step as I did not evaluate the options available and simply skipped to the fourth stage which is selection of the option. I followed the fifth stage as I implemented the decision of obtaining the selected option. The last step according to the model of decision making is to evaluate the implemented decision. I did not evaluate the decision and continued to live without thinking about the positive and negative effects of obtaining the apartment.
Difference in Decision
My decision would have been quite different if I would have completely implemented the six stages of decision making as asserted by Bentham. If I would have defined the problem appropriately, I would have been well aware of what I actually needed as an apartment and then according to this need I would have conducted a search for the apartment and would have evaluated the options accordingly. Thirdly if the decision would have been taken according to the decision making model, my decisions would have been much more favorable. It would have assisted me in finding a much cheaper house than I am currently living it as later I figured out that I was paying $ 200 extra as compared to other tenants of the same apartment’s building.
References
Bateman, T. S., & Snell, S. (2009). Management: leading & collaborating in a competitive world (8th ed.). New Delhi: Tata McGraw-Hill.

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