Decision-making

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Analyze the relationship between knowledge-based economic decision-making and economic growth.

 

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Decision making

Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions. Using step-by-step decision making process can help you make more deliberate, thoughtful decisions by organizing relevant information and defining alternative resolutions.  The knowledge based economy is the use of knowledge to create goods and services. In particular, it refers to a high portion of skilled workers in the economy of a locality, country, or the world, and the idea that most jobs require specialized skills. The main personal capital of knowledge workers is knowledge, and many knowledge worker jobs require much thinking and manipulating information. A knowledge based economy is important for widening the scope of labor from producing goods on an assembly line to greater flexibility in design, manufacture and implementation of business ideas. Economic growth creates higher tax revenues, and there is less need to spend money on benefits such as unemployment benefit.

I am now going to go into how some experts are recommending implementing physical activities into the workplace. Now according to Alan Kohll, who is a contributor to Forbes, he mostly covers corporate wellness and health trends. He states that two ways to get employees to start doing physical activity or for companies to implement them are to use fitness trackers and health clubs. People are creatures of habit they aren’t going to necessarily change just because someone told them to even if it is something as serious has their own health. So Mr.Kohll states “offer a prize for the winning employee and a small prize for all participants in the challenge.” (Kohll Para 8) People are driven by incentives in life and especially in work, if they are given something just by exercising, it doesn’t matter if they are like exercising all that matters are winning and getting the prize. For the company to take the investment into buying these it is worth it, for one that could write this off as it is a company expense that benefits employees and helps keep them productive. Which in turn would be very valuable to the company because if they are more productive than the company wins because the employees are doing better work. Now as for health clubs it is more to the point earlier in the essay, if one allows employees to gather outside of work as a group it is more beneficial to allow participating. This is actually a trend occurring in the corporate world, bosses allowing employees to take walking breaks, some companies might even give incentives for these as well. As this is still a plus for the companies the workers productivity only improves which in turn helps the company. Moreover, a study conducted in the workplace found that employees for participated in company backed programs like walking groups and counseling increased their step count. “Participants assigned to the workplace walking programme increased their step counts by over 968 steps at the end of the intervention. Participants given encouragement to increase their workplace walking also demonstrated an increase of over 699 steps.” (Malik Para 25) This concludes that workers that participated in the workplace activities increased their steps and physical activity which in turn is a great benefit to them. Both sources showed ways that companies can intervene in helping their employees and showed that there are big positives in implementing these.

Physical activity brings plenty of benefits, it prevents very deadly diseases, improves mood an

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