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During this group presentation, we will discuss the importance of effective managerial decision making and the approach that Eastman Kodak has taken to transition their company into a more competitive market. The first thing we need to know that is there are seven steps that should be taken in an effective decision making process. They are in the following order: Identifying opportunities and diagnosing problems, Identifying objectives, Generating alternatives, Evaluating alternatives, Reaching decisions, Choosing implementation strategies, and Monitoring and Evaluating those decisions. When Kodak realized that they must capitalize on being more innovative and cost competitive, they hired a new CEO in October of 1993. His name was George Fisher. His philosophy on how to turn the company around focused more on the opportunities facing the company rather than coming in doing extensive cost cutting. This approach is the first step in effective decision making and it must be done in order to identify the objectives ahead, generate alternatives to those objectives, and to reach decisions and strategies.
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