Lower Division Capstone DB4
Many people, especially business professionals, are afraid of making major decisions. Business professionals who evade the reality of making major decisions maintain old business models and remain unhappy. A business owner holds the key to making vital decisions regarding the business's transactions. In business, decision-making is a momentous element that facilitates successful company management. Business managers make good decisions and bad decisions, which have a significant impact on the business. Therefore, managers are exposed to the risk of making bad decisions that would cause detrimental damages to the business. Commonly, decision-making in businesses is based on assumptions.
Decision-making routine can be approached from several points of view. In a business, a manager can make a decision regarding the brand and taste quality of the products. Initially, the business manager reviews the benefit versus cost analysis records of the products. Naturally, business professionals anticipate building profitable businesses. Based on assumptions, the business manager opts to modify the brand of the products. According to the manager's assumption, modification of the brand would improve its quality and highly attract the consumers. The manager also assumes that brand modification would be a technique to surmount the competitors.
The decision made by the business manager can turn into an utter disaster. The taste and the brand of the product may not appeal to the consumers thus turning them away. The business faces a significant catastrophe because they do not take the taste tests to ensure a sociable taste. Moreover, the business professionals are oblivious of their satisfied customers who are content with the old brand and taste quality of the product. In order to evade wrong decision-making, the business manager should have carried out a research through consumers' interviews. Still, the manager should research on the affable trends in the market. As a manager, I would ardently follow up the consumer's views regarding our products. Based on consumer research and the current trend, I would make a major decision on whether to modify the products or any other transaction to boost the business's profitability.