Decision making is one of the very important aspect and nature a Manager should

Question

Decision making is one of the very important aspect and nature a Manager should have in order to create a successful way for the business.There are different decision making processess and a few are

1.Gather information.-Gathering relevant details about the decision is a very crucial step in the process of decision-making. Informations like is the location suitable for the current business they are running is very important.The facilities of the location should be clearly analysed as a first focus.

2.Knowing the market.-A detailed study about the market of the particular business should be clearly analysed. The status of the business of the products and services they are planning to offer is to be compared with the status in the newlyselected location.

3.knowing the competitors is a much needed study .The competitors play a major role in the growth of any business .Strategies or decisions should also be based on the level of competition present in the new location .

4.Analysing the exact location after choosing the new place.After the managers choose a particular place to expand their business and decide on it they are supposed to know the minute details of the place .Even very small details can change the nature of the business and decision making process.

Lynne and Mohammed have to take into consideration various other factors that will sometimes be a hindrance in their final decision making.Few others they should also consider are

1.They should have a approximate estimation of the cost needed to expand their business in the new location.The running cost will differ with places.

2.Availability of people to work for them in the selected location is another problem they have to analyse with.

3.Language could be a barrier in the new place.So alternative modes of communication should be set .

4.Transportation of products from the place of production or purchase should be considered.

5.Budgets of transportation and many other expenses like labour cost should also be met.

6.The nature of customers should be read among many aspects.Will the business be able to survive in the new location should be a question that should be answered.

7.One of the important decision should be if the business is planned for a short time or a long time.The investments will decide on this factor.

8.Is the use of technology accepted or can be availed in the new place is a question of great importance.

9.Is public transportation available for the new place so that people can easily visit the new store .

10.Various methods of advertisements needed for the new store in the new location is a crucial assessment to be made..Only if the reach is good the business will also strive to be successful.

So both the managers should consider all the factors and the estimate the risks available aiming the final decision.

Explanation / Answer

Lynne and Mohammed are both upper-level managers at a local co-op in St. Paul. The co-op has be doing well, and they are considering opening a second location in Minneapolis. However, Lynne and Mohammed have different decision-making styles. Please name and describe in your own words four decision making processes that could be used to guide their decision for choosing a new location. In addition, provide and explain in your own words 10 ways in which their decision could, in general, be derailed or hindered, and explain each.

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