You are a manager of a firm that manufactures conventional ovens. Over the past several years, sales of many of your products have declined; this year your losses may be quite large. Using the steps of the decision-making process, briefly describe how you arrive at a strategy for correcting the situation.

Question

Business

Holmes

30 July, 23:10

You are a manager of a firm that manufactures conventional ovens. Over the past several years, sales of many of your products have declined; this year your losses may be quite large. Using the steps of the decision-making process, briefly describe how you arrive at a strategy for correcting the situation.

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Shiloh Tyler · Answer 1

Using the steps of the decision making process, I will start with identifying the decison, gather information, identify the alternatives, weigh in evidence, choose the one that is relevant, take action and review my decision.

Explanation:

Step 1: Identify the decision: The decision in this case is the strategy for correcting decline in the sales of conventional ovens or strategy for increasing the sales of conventional ovens.

Step 2: Gather relevant information: this step will involve a thorough research to find out why sales declined, our competitors strength, how to break even and increase sales.

Step 3: Identify the alternatives: I will draw a list of alternatives based on the research carried out that will increase our sales going forward.

Step 4: Weigh the evidence: At this stage, I will compare the options to check its viability.

Step 5: Choose among alternatives: this is the stage where we I will arrive at a decision on which option to use.

Step 6: Take action: At this stage, execution takes place.

Step 7: Review: This is the evaluation phase that gives room for checks to determine the pros and cons of the decision taken.