Decision Making Process Essay Example | Topics and Well Written Essays - 2250 words - 1

Decision Making Process - Essay Example Doing this entails a thorough understanding of the micro and macro environment that defines the given consumers that a firm needs to serve. The most important point to note is the fact that consumer buying choices and decisions making process are things that get influenced by external factors which need to be handled by internal processes that could take place through social interactions. Consumer decision-making process has more to do with the patterns of behaviour that are preceded by consumers, determining and making them follow certain decisions with the sole aim of satisfying their individual or group needs based on products and services (Wu-Chung & Tzung-Cheng, 2010, pp.3530-3540). The mortgage market is experiencing numerous changes and has grown more volatile following the current financial crisis that has been most of the times blamed on poor handling of mortgages by various firms and stakeholders. This paper looks at the consumer decision-making process for the purchase of an appropriate mortgage following acquisition of some sufficient capital sourced from an uncle. The transaction will thus be analysed based on this theory in order to establish what went on as far as my decision-making process was concerned regarding the mortgage transaction. ... I happened to get enough information regarding the mortgage market, something that I do often before engaging myself into a purchasing process. First I sought credibility of this company as the dealer in mortgages. I then went to the industry analysis on the mortgages. I wanted also to take advantage of any incentives that would have come with choosing the best mortgage dealer. Many companies do provide mortgages but differ in various issues especially rates charged on these mortgages. There are repayment mortgages and interest only mortgages. I realized that interest on mortgages played a very important role in the choice of mortgage option. I also learnt of the mortgage regulation by the Financial Services Authority which sees to it that confidence in the financial system is maintained, public understanding is promoted, consumers are well protected and that financial crimes are avoided. There are also high interest rates on the mortgages placed by banks because of the need to cut o n liquidity in the market (London & Country Mortgages, 2011). I then had to make my decision on the mortgage choice and payment. This is where things became hot! Decision-Making Process on Purchase of an Appropriate Mortgage Property in London A consumer undergoes various stages in his or her buying decision-making process which are comprised of motivation to buy the product or service, problem or need recognition that is to be addressed, search for information, evaluating alternatives that are available in the market, and making a final purchase based on the choice made. Rational decision theory indicates that consumers as decision-makers do make many strategies and tend to use some logical procedures aimed at solving

Portfolio - semester 1 Essay Example | Topics and Well Written Essays - 3000 words

Portfolio - semester 1 - Essay Example It is also important because it will enable me to be more vigilant when evaluating data and ensuring it is perfect and up to date as in most cases such information are always ongoing projects. In addition, I will be in a position to identify new business openings and open opportunities for the business in order to improve on their statement approaches. What I want to have achieved by the end of the placement At the end of the placement, I hope to have gained more arithmetical skills that will enable me to perform more tasks that require data collection and analysis. Furthermore, I hope to have improved my participation and devotion characters so that I may become an active member in my working place through taking part in various activities. Criteria 2 Oral communication Why do I think this is important to develop? This element is important because it promotes a high level of understanding and transparency in oral communication as it is interpersonal. There is no constituent of infle xibility in verbal communication, which implies that there is tractability for permitting modifications in the decision-making previously taken. In addition, oral communication is a vital tool for teamwork and team determination (Gonon 2008, p.90). Verbal communication endorses an approachable and motivating positivity among workforces. Therefore, because of these benefits of oral communication, I feel it is very important as it allows interaction within the workplace. By employing effective oral communications skills in a team, I stand a good position to share various ideas with my team members. For me to perform tasks efficiently for the project I have to advance my oral communications skills (Useem 2001, p. 85). I have to develop a proficient understanding with other associates and members of the organization, communicating with them in a formal manner using correct grammatical English. For instance, during my placement I was asked to perform a telephone surveys with staff and me mber from different part of the department. This allowed me to collect qualitative as well as quantitative data from members who are part of the â€Å"Business Allowance Programme.† The feedback from the survey questions gave me an insight of how the programme helped set up the individual company. I also spoke to members and patrons, who are members of the organization asking for their opinions on Chamber’s communications, speaking with member allowed me to enhance my technical vocabulary. At the end of the 6-week project, I was asked to produce a report along with a presentation to the employees of the company. This boosted my self-assurance and vocabulary letting me to execute to the paramount of my capacity. Therefore, this experience was a revelation in my field, especially in terms of improving my oral communication. It made me to realize that oral communication is a very essential component in my project and in the world as a whole as I join the working group. In most organizations, a significant number of employers seek out for applicants with good oral communication; therefore, developing such a character is an advantage for future employment opportunities. What I want to have achieved by the end of the placement By the end of this placement, I hope to have enhanced my oral communication using clear vocabularies during any speech I will be allowed