Management Concepts
What is the Decision-Chain Formula Link
- As humans we spend the majority of, or the largest percentage of our waking moments (time) on efforts for creating value for the benefit of society. This is through interaction with the crucial Decision-Chain Formula Link. The Decision-Chain Formula Link has a recursive traversal path of: Executive Decisions->Value Decisions->Production and Operational Decisions. Executive decision is about initiating, funding, and championing of value. Value decisions is about quantifying and funding the anticipated value to some realization level. Production and Operational decisions is about demonstrating and sustaining value at acceptable levels by managing a mix of resources (time, money, materials, labor) for the creation of products and services.
- The formula entails an expression of management capabilities such as to Manage initiating and funding value->Manage achieving value->Manage creating Products and Services->For the Benefit of Society
- Generally, each of us may have a stake in all links within the chain or just a particular link. As such the decisions we make have consequences, impacts, and effects we should be aware of and most importantly remain committed to mutual cooperation and resolution. Why? For the benefit of Society.
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