Starting your own small business

Topics: Entrepreneurship, Business, Small business, Decision making / Pages: 9 (2024 words) / Published: Nov 12th, 2013

Charles Barkley

14 December

Starting your own small business

A decision is a free choice between alternatives, and it is made by a person or group who in fact has the authority to make such choice. This seems quite simple; and in the case of a single individual acting independently of others, there would be little need of pursuing the inquiry further. An individual, for example, makes a decision to establish his own business instead of remaining as a salaried employee; he conceives the idea, weighs the prospects, and decides upon his course of action. Having so started, he decides to add a new product to the line of goods to be manufactured or, if he is a merchant, to be sold. Here there is no problem of determining who the decision maker is and no practical need of determining what the process is. But when as is so often true in our modern economy, the business entity is a partnership or a corporation in which several individuals and levels of authority exist, we need to recognize that others than those who make the final choice play important parts in the process. There is the original conception of an idea that may well come from someone far removed from the authority level. Then the conception may be worked over and gradually take the form of a definite proposal. “These steps are important because the authority decides between alternatives, and there can be no real decision unless there are such alternatives” (web). Moreover, the decision will be made on the basis of the attractiveness of the alternatives, and that, in turn, depends on how they have been developed and presented.
Consequently, the character of an organization and especially its progressive or nonprogressive qualities may be greatly influenced by the kind of people who man its ranks and minor supervisory positions. An alert salesman, for example, may detect a weakness in some product or a gap in the line of goods. He or his

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