Decision-making in a business scenario
ASSESSMENT 2: Decision-making in a business scenario
Introduction
Due to one American sporting apparel enterprise, which is assumed to be called the Wave Company, has entered its bottleneck of reaching the limits of growth, this report focus on that, as one CEO, how I will decide on the markets to expand to and ensure the success of this new business. Firstly, it provides an overview of situations this company faces and some detail information. Secondly, it uses one critical thinking tool, one decision making tool and one business framework to evaluate the internal and external factors of the Wave Company. Thirdly, it indicates two possible decision-making traps which may occur in decision-making process. Finally, it draws a conclusion about this case study.
Case Study Overview
The Wave Company, a distinguished leader in the sporting apparel business, have been centring on producing and selling the most fashionable sports products in America, which means basketball, baseball and American football, for numerous year. It has achieved great success by focusing on performance sportswear and equipment, as well as branded, non-performance wear. However, currently, it also has attained the growing peak by trading above sports products. Therefore, the Wave is willing to expand into new market to break bottlenecks through producing garment for diverse sports.
The decision-making senior executive team is composed of the VP of Sales, VP of Marketing, VP of Product Development and CEO. In addition, in terms of location, the Wave’s headquarters is situated in the United States, with its American top management team. And the other 4 regional headquarters are respectively located at the Americas, Africa and the Middle East, Europe and Asia and the Pacific. All the products are sold throughout the world. Moreover, this expansion task is planned to be finished in the next 12 months and the returns is expected to be obtained within 2 years after debuting.
Overview of
Introduction
Due to one American sporting apparel enterprise, which is assumed to be called the Wave Company, has entered its bottleneck of reaching the limits of growth, this report focus on that, as one CEO, how I will decide on the markets to expand to and ensure the success of this new business. Firstly, it provides an overview of situations this company faces and some detail information. Secondly, it uses one critical thinking tool, one decision making tool and one business framework to evaluate the internal and external factors of the Wave Company. Thirdly, it indicates two possible decision-making traps which may occur in decision-making process. Finally, it draws a conclusion about this case study.
Case Study Overview
The Wave Company, a distinguished leader in the sporting apparel business, have been centring on producing and selling the most fashionable sports products in America, which means basketball, baseball and American football, for numerous year. It has achieved great success by focusing on performance sportswear and equipment, as well as branded, non-performance wear. However, currently, it also has attained the growing peak by trading above sports products. Therefore, the Wave is willing to expand into new market to break bottlenecks through producing garment for diverse sports.
The decision-making senior executive team is composed of the VP of Sales, VP of Marketing, VP of Product Development and CEO. In addition, in terms of location, the Wave’s headquarters is situated in the United States, with its American top management team. And the other 4 regional headquarters are respectively located at the Americas, Africa and the Middle East, Europe and Asia and the Pacific. All the products are sold throughout the world. Moreover, this expansion task is planned to be finished in the next 12 months and the returns is expected to be obtained within 2 years after debuting.
Overview of