Decision Making Essay

3959 words - 16 pages

Date- 21th May 2012
You have been assigned as a leader of a cross functional team of internal consultants to your CEO and the Board for your company.
Your company is faced with dwindling profit and constant chaos due to:
1. Intense competition from local competitors
2. New entrants from China/Vietnam with very low prices
3. Increasing inventory of great products which used to be fast moving
4. Lack of coordination with supply chain decisions and customer demand from CRM
5. Customers of least profit getting maximum attention and more profitable customers defecting
6. Sales Force placing unreasonable demands coupled with production interruption
7. Lack of ...view middle of the document...

Being cheaper than a competitor is not the only weapon. Being faced with a new competitor is providing free opportunity to assess the business and could even benefit from this unexpected challenge. So by treating this competition positively, first try to understand the scheme behind the entire product or service offered by the competitor, like
* What is their approach?
* What is their pricing?
* What is their advantage?
* What is their value?
* Do they have large investors?
Carry out a SWOT analysis of our business, with which our business strength, weaknesses & opportunities can be identified. Put emphasis on developing adequate strategies for dealing with threats and try to improve things where we aren’t so good at.
Following strategies need to implement to overcome impact of offshore competitors like China & Vietnam.
Primary Competitive Strategies: These offer a higher customer value often through a niche-focused strategy.

* Focus on specialty product or process like tight tolerance, difficult to manufacture & high quality products. Also focus on process based product manufacturing which involves specialized process capabilities.

* Emphasis on development of innovative product/process technologies, unique and often patented technologies that offer significant performance advantages versus alternatives available in the market.

* Target business where proximity to the customer provides a service advantage, based on logistics or design.

* Implement Value-added inventory management like JIT(just on time), kan ban, consigned inventory.

* Study of freight economics if the product is too bulky or expensive to ship.

* Focus on low volume/short run business which is not of interest to the Chinese and not worth setting up sourcing arrangements.

* Products with frequent modifications need close interaction with customer for intensive design/engineering.

* Improve customer relationships and loyalty; build up strong personal relationships and a strong service track record.

* Getting the support of employees is crucial. Let them know about our current concerns and get them to play a part in improving business. Ask for their ideas.

Supporting Competitive Strategies: These strategies reduce cost and risk, enhance capabilities, and help to strengthen the niche.

* Target the right customers, those who are less likely to go to offshore and may be less price- sensitive.

* Work to be cost competitive in manufacturing processes through Lean, automation and other investments to reduce costs.

* Consider cost reduction through production in low-cost countries via sourcing or joint ventures.

* Develop strategic partnerships with companies that offer complementary products as well as customers, suppliers, and even competitors.

* Become a global player through a worldwide presence or production system. Use partnerships and alliances off-shore to...

Other Papers Like Decision Making

Decision Making Process Essay

664 words - 3 pages Decision-Making Process Cheri Combs MGT 230 April 30, 2012 Jonathan Graff Decision-Making Process There was a time in my life when I had to make a decision on whether to remain a renter or purchase a home. Decisions such as these require a process, not necessarily every step that was outlined in our test, but a process none the less. I could not just go into this life changing decision without first deciding if there was a problem with

Ethical Decision Making Essay

1178 words - 5 pages Ethical Decision Making  Ethics are principles that define behavior as fair and proper and they are concerned with how a moral person should behave when it comes to making an ethical decision (Josephson Institute of Ethics, 2002). Evaluating and deciding among competing options is often key in making a fair choice since principles do not always dictate a single "moral" course of action.  The decision of whether to lay off workers to enhance

Mgt/230 Decision Making Process

1076 words - 5 pages Decision-Making Process Decision making is a significant part of everyday life as every action is a reflection of any and all decisions. Life in itself demands for various decisions to be made, therefore decision making becomes a key element to all aspects of one’s life. Such decisions that do bring critical attention to the conscious mind are; career, school, managerial, financial, and family decisions. These decisions play a critical role in

The Decision Making Process Utilizing The 5a's

813 words - 4 pages The Decision Making Process: Utlilized the 5 “As” A decision is an act of reaching a conclusion in one’s mind. The decision making process is a cognitive process that results in the selection of one proposed idea over another. In order for the decision making process to be productive, a careful planning process must take place. Planning is important to decision making because it helps to define the purpose, goals, and scope of the decision

Understanding The Dilemman Of Ethical Decision Making

6423 words - 26 pages Understanding the Dilemma of Ethical Decision Making Understanding ethics and utilizing ethical business practices are key to the success in modern business. Traditional business organizations must take into consideration many more aspects of business today, than in the past when the focus was primarily on profits and making money for the shareholders. These ethical principles also influence non-profit and government

Individual: Critiquing Philosophical Approaches To Ethical Decision Making

1097 words - 5 pages Week 4 Individual Paper Angela Tai ACC 260 May 10, 2013 Douglas Kildsig Critiquing Philosophical Approaches to Ethical Decision Making Three philosophical approaches are taken when ethical decisions are being made. These approaches include consequentialism, deontology, and virtue ethics. Consequentialism focus on the consequences associated with the decision that was made. When an individual uses this approach, that individual should

Re-Organization And Layoff: Decision Making Evaluation Paper

855 words - 4 pages Re-organization and Layoff: Decision Making Evaluation Paper PHL/320-Critical Thinking and Decision Making July 20, 2015 Re-organization and Layoff: Decision Making Evaluation Paper The term “working poor” aptly describes most employees in the middle income tax bracket. Middle class Americans typically live paycheck to paycheck. These workers face difficulty saving money as incomes barely cover living expenses

Applying Ethical Decision Making

495 words - 2 pages Recently, you received an assignment as the communications and electronics staff NCO of the 99th Infantry Battalion. You are replacing SFC Sharp who is on the promotion list to master sergeant and is departing for his next duty assignment in two weeks. SFC Sharp’s welcome was impressive and he has done everything imaginable to ensure you’re getting off to a good start. Your Soldiers appear well trained, and your section sergeant, SGT Day

Examination Of Leadership To Determine A Direct Correlation Between Leadership Style And Ethical Decision Making

3994 words - 16 pages AN EXAMINATION OF LEADERSHIP TO DETERMINE A DIRECT CORRELATION BETWEEN LEADERSHIP STYLE AND ETHICAL DECISION MAKING Michael S. Huckaby BBA 4751 Business Ethics Professor Fernando Chavez Leadership is a complex and ever evolving skill-set. Good leaders not only guide behaviors of followers, but lead them and their organization to achieve common objectives. Good leaders have an ability to adapt to any setting so everyone feels empowered

Decision Making And Data Analysis

555 words - 3 pages preliminary testing does not give absolute certainty that the invention will have commercial potential. If Campus bought the invention it would still need to go through the whole process of exploring the commercial potential and developing the invention as described and costed earlier. Campus Crucible must decide whether to conduct the preliminary testing, and indeed whether to buy the invention at all. Draw a decision tree to represent the problem and indicate what Campus should do if their objective is to maximise expected value. You may disregard taxes, inflation and the time value of money.

Individual Ethical Decision-Making Analysis Introduction Throughout My Lifetime I Have Dealt With Everything From Priests To Murderers, I Have Witnessed Preachers With No Morals And Thieves With Moral...

732 words - 3 pages . These other two schools are necessary as well for the understanding of almost all things that are explainable. There is no one school that is better than the others and I would have to relate to all three of them. As for the things that are just phenomena I would have to agree with you in analyzing the facts and truths that we are able to prove and believe in rather than just making things up and believing in false truths. John Dewey you are truly

Related Essays

Decision Making Essay

1244 words - 5 pages For this paper, I have chosen chapter 7 (Decision Making and Creativity) and to use key concepts from this chapter to explain a project which I was responsible for at work and how the outcome could have been executed with the use of these key concepts that I will discuss. The chapter’s definition of decision making is “the conscious process of making choices among alternatives with the intention of moving toward some desired state of affairs

Decision Making Essay

2032 words - 9 pages Contracts Obsolete, slow-paced redressed of legal disputes and improper enforcement of contracts might result in contractors breaching them frequently. Thomas et al. (2006) Bureaucratic Delays Delays in getting requisite clearances like environment or forest clearances and other permissions. Baker et al. (1999) Corruption and Dishonesty High levels of corruption resulting in opaque decision- making and unfavorable outcomes. Dawood (1998

Judgment And Decision Making Essay

462 words - 2 pages Abstract 1.5(297) Looking up and looking around Management process includes decision making where authority and advancement patterns meet and is existing in every corporation. Two ideas implemented in decision making: * Consensus manager: person achieving a communally defined goal skillfully. * Take charge guy: Person achieving in a determined way by exciting and dynamic leadership. Decision making is necessarily, thoroughly and

Decision Making Process Essay

532 words - 3 pages Decision Making Process Kamie Fitzgerald MGT/230 October 29, 2012 Jack Geer Kamie was getting to a point in her life where it was time to make a decision on her career. She didn’t want any more of the economically driven jobs with no retirement and horrible benefit packages. It was time to think about the future and start preparing for a stable career and life for her family. Kamie really idolized her father as he worked for a city