PLEASE UPDATE THE ATTACHMENT TO INCORPORATE THE COMMENTS BELOW: Framing the decision statement and ensuring its accuracy and lack of biases. 1. Discuss the validity of the decision statement. Is thi
PLEASE UPDATE THE ATTACHMENT TO INCORPORATE THE COMMENTS BELOW:
Framing the decision statement and ensuring its accuracy and lack of biases.
1. Discuss the validity of the decision statement.
Is this the best decision statement for HH?
Defend and support your discussion. Your logic and argument must be clear and based on the MDQ model as well as the case study facts.
1. You have articulated your position relating to the validity of the decision statement.
2. However, based on the information provided in the fact pattern, is this the best possible decision statement for the company?
A. What is a sustainable growth rate for the company?
B. How can the company develop a sustainable growth rate?
2. Consider and address the following questions in the brainstorming discussion.
●What is the group (class) consensus relating to the decision statement?
● Summarize the group’s consensus relating to the decision statement and incorporate it in the final draft of your presentation.
Returning to the discussion in week one and my class summary, what is the nature of the problem or decision?
1. Is this a simple problem in search of a solution, where you can employ problem solving techniques, or is the company facing a complex (complicated problem) which requires a decision–utilizing the decision-making process or framework?
2. Conversely, are the competitive pressures and new opportunities (national and global) providing the impetus for the company to make a decision to enhance its competitiveness and strategic objectives?
Strategic Error: focusing on sales, marketing and growth performance
1. Are there discernible psychological/cognitive biases due to the initial (previous) success (growth performance) of the company?
If so, could they affect how the decision statement is framed?
2. A growth plan is not synonymous with an organization’s strategic objectives—putting the cart before the horse (Creating a recipe for disaster with an unrealistic growth plan or preoccupation with meeting growth targets.)
3. Strategic objectives (alignment) can anticipate new opportunities and threats and capacity of the company to adjust to current and future changes in consumer and demographic trends.
4. What are the factors driving the company’s growth performance, and can they be sustained?
5. What are the company’s core competencies (capabilities)?
6. What are the factors driving its competitiveness?
7. Focus on marketing but limited assessment (research) of market trends and changing consumer and demographic trends.
8. Recognition of new opportunities, competitive threats and pressures
9. Within the context of the company’s original mission and goals, is the company losing sight of its mission?
Recall my comments on the complex decision-making process during week one:
Framework for addressing the (how) question: how corporate organizations make business decisions that are consistent with their missions, strategic objectives and competitiveness.
Challenge: Leaders need to probe first, then sense, and then respond.
1. This is the domain of most business problems in the global environment, where leaders must have the flexibility to adapt, anticipate changes, capitalize on new opportunities and respond to chaos.
2. Unlike the complicated context where there is at least one right answer, it is difficult to discern the cause and effect and rights answers.
3. Due to the continuous changes and new demands, the parts may be greater than the whole system.
4. Leaders cannot fully anticipate and understand all developing problems and challenges.
Therefore, they must have the capability and flexibility to adapt/respond when the dimensions of the challenges or problems become clear.
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