Essay on Decision Making

Words: 3946
Pages: 16
Open Document
Date- 21th May 2012
You have been assigned as a leader of a cross functional team of internal consultants to your CEO and the Board for your company.
Your company is faced with dwindling profit and constant chaos due to: 1. Intense competition from local competitors 2. New entrants from China/Vietnam with very low prices 3. Increasing inventory of great products which used to be fast moving 4. Lack of coordination with supply chain decisions and customer demand from CRM 5. Customers of least profit getting maximum attention and more profitable customers defecting 6. Sales Force placing unreasonable demands coupled with production interruption 7. Lack of integrated and coordinated planning and control 8. …show more content…
* Study of freight economics if the product is too bulky or expensive to ship.

* Focus on low volume/short run business which is not of interest to the Chinese and not worth setting up sourcing arrangements.

* Products with frequent modifications need close interaction with customer for intensive design/engineering.

* Improve customer relationships and loyalty; build up strong personal relationships and a strong service track record.

* Getting the support of employees is crucial. Let them know about our current concerns and get them to play a part in improving business. Ask for their ideas.

Supporting Competitive Strategies: These strategies reduce cost and risk, enhance capabilities, and help to strengthen the niche.

* Target the right customers, those who are less likely to go to offshore and may be less price- sensitive.

* Work to be cost competitive in manufacturing processes through Lean, automation and other investments to reduce costs.

* Consider cost reduction through production in low-cost countries via sourcing or joint ventures.

* Develop strategic partnerships with companies that offer complementary products as well as customers, suppliers, and even competitors.

* Become a global player through a worldwide presence or production system. Use partnerships and alliances off-shore to expand reach and distribution capabilities.

(Solution on 3) 3) Increasing inventory of great products which
Show More

Related Documents: Essay on Decision Making

Decision Making Paper

Introduction Decision making is a characteristic that is not only held by individuals, but is also implemented in processes within companies. Each style of decision making that a company teaches, is different and has different strengths. While some companies need to develop better practices, others have ways that incorporate all staff members to be active in the process. This paper will describe successful and unsuccessful experiences related to group decision making in a retail setting, as…

Words 1136 - Pages 5

Decision Making Studies

Case Study Analysis of Decision-Making Studies Cecilia Cruz American Public University Case Study Analysis of Decision-Making Studies In Gerrits (2010) case study, the main problem was that there was not proactive planning in this project. They did not anticipate the problems they ran across when they decided they wanting to do a second deepening so soon. “ Coevolution can explain the occurrence of unintended, unforeseen and unwanted consequences of decisions.” (Gerrits 2010, p.19). The…

Words 854 - Pages 4

Decision Making Essays

DECISION MAKING PROCESS MGT/230 JULY 5, 2012 LINDA TORRES-KLEINHANS DECISION MAKING PROCESS In January of 2007 I was medically discharged from the Unites States Army under honorable conditions. After my discharge I was forced to make a life changing decision to either stay here in Texas or move back home to Virginia. During this time I came to realize that the biggest problem I had was if I were to move back to Virginia I would have to be apart from my daughter who at the time was four…

Words 366 - Pages 2

Decision Making Process

DECISION MAKING PROCESS Decision Making Process Cody White MGT/230 December 6th, 2012 Palmer Pellham Decision Making Process People make important decision every moment of every day. Whether good or bad, each of these decisions has repercussions. Some decisions carry more weight; hence the process one must take to come to such a decision cannot be taken lightly. There are certain points in our lives that require us to determine which course of action we will…

Words 615 - Pages 3

Decision Making Paper

Decision Making Process Paper MGT 230 November 11, 2013 Decision Making Process Paper There was a time almost three years ago where I had to make a quick company change due to higher wages and a much more convenient schedule that would fit my current needs. So, first thing that I did was weigh my options and realized that the current job was too difficult for me to maintain with having a newborn baby on the way and at the time I realized that I would need more…

Words 404 - Pages 2

Essay on Decision Making

707 Chapter 1 HW 1. Decision analysis is evaluating numerous possible courses of action and choosing the best course of action. One of the most effective ways to analysis and evaluate decision alternatives involves using electronic spreadsheets to build computer models of the decision problems faced. 2. Computer modeling is a set of mathematical relationships and logical assumptions implemented in a computer as a representation of some real-world decision problems or phenomenon.…

Words 907 - Pages 4

Ethical Decision-Making

The way in which people handle a situation depends on their ethical principles. Everyday people are faced with decisions and how they handle them is based off how they approach the dilemma and utilize their basic tools of knowledge and traits. Some ethical decisions that we make daily are automatic and don’t require serious thought however, other situations are sometimes far more severe in nature and will make one stop and think about the ramifications of their actions. To better understand the…

Words 773 - Pages 4

Decision Making Paper

Decision-Making process MGT/230August 19, 2013Decision-Making process Decision making is an evitable task we are all faced with from the moment we wake up to the moment we go to bed. Decisions as simple as what to wear and as complex as life and death. Fortunately I have not encounter having to make a decision that makes the difference between life and death. An important decision I did have to make a few months ago was whether I should return to school or get a second job. Working for the same…

Words 428 - Pages 2

Importance Of Decision Making

There is a lot controversy with regards to management decision making. It has come to the attention of many business men the importance of this topic and how to classify it. How to understand and improve this process includes various kinds of approaches. It is understood that two kinds of approaches exist, one being the economic and logic and the other the people’s psychology on applying decisions and judgments. One of the definitions given to this process is that managers respond to threats…

Words 458 - Pages 2

Decision making Essay

evaluate the ’success’ of a project recently undertaken in your organisation: Specifically referring to the key stages documented in the above Making specific recommendations in approach for future projects as a result of your findings The word count is between 1500 minimum to 2000 words maximum. Name: Andrew Hughes Module: Financial Decision Making Tutor: Richard Andrews Date: 12th November 2011 Academic Integrity Statement: I have read and understood the Academic Integrity guidelines for…

Words 1802 - Pages 8