Week 6 discussion – Decision Making

Learning Goal: I’m working on a business discussion question and need an explanation and answer to help me learn.

MDQ STEP THREE: BUILDING THE DECISION

GATHERING INFORMATION

The purpose of this week’s brainstorming discussions is to address the type of information HH needs to gather in coming up with creative alternatives to use in the MDQ decision making model. Useful information involves researching anything that the decision maker needs to know that might influence the decision making process. This includes experience from past or future situations as well as factual information. Even though the decision maker has no control over future events, information needs to be gathered to anticipate outcomes, consequences or actions when acting on HH’s alternatives.

CREATING ALTERNATIVES:

In Building the Decision, the decision maker will create FOUR viable alternatives. The case study mentions several obvious alternatives, such as: partnering with the investors or increasing E-commerce sales. However, NONE of these alternatives is strong enough on its own to meet all the objectives HH would like from the decision. Harry must look for ways to combine them with other possibilities to make stronger alternatives.

The expectation is to create alternatives that are creative, demonstrate critical thinking, use additional research, and meet as many of the objectives as possible. REMEMBER THAT THE ALTERNATIVES MUST SATISFY AS MANY OBJECTIVES AS POSSIBLE.

Please utilize the following objectives to complete the assignment:

NOTE: The objectives are not prioritized. You will prioritize the objectives in week seven after the completion of the decision matrix analysis.

  • The best way(s) HH can develop a sustainable growth strategy
  • The best way(s) HH can enhance its competitiveness and capture new opportunities.
  • The best way(s) to keep abreast with changing market trends and consumer preferences.
  • The best way(s) to maintain a strong staff engagement (Organizational Culture: maintaining a positive environment to facilitate acquisition, development, and retention of the company’s human resources).
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