Decisions In Paradise Essay

966 words - 4 pages

Decisions in Paradise, Part II
Veronica Evaristo
MGT/350
December 5, 2011
Ken Rath

Decisions in Paradise, Part II
The community of Kava is presented with various environmental challenges that affect the progress of the economy. As an organization in this location, running a business also poses a complex trial to be profitable and successful. ANZ Guam, Inc. (ANZ), a new banking institution in Kava, realizes these challenges to be grow its business and simultaneously provide to the community. Considering most people from Kava would not appeal to the products of a bank, ANZ hopes to provide adequate financial education to the community. With a general banking knowledge ...view middle of the document...

Taking the Steps to Success
Marketing products and ensuring the company is ready to service the products should be planned tactfully. For this reason, ANZ has opted to optimize the business problem through the collaborative decisions. Usually there are five general steps to in the collaborative decision-making process. In the first step, which is assessing and planning, ANZ will identify the problem in analyzing the key component of products that can be best featured in Kava. In addition, representation of stakeholders will be considered, accessing the appropriate staffing and processes, developing a timeline and financial resources needed. Secondly, a mission statement for the project should be developed. The roles to carry out this task should also be scrutinized to ensure each individual knows his or her responsibilities. Third step would be to conduct necessary research and compile an estimate of the financial strain the environmental impacts have put on Kava’s economy. From there, an analysis can be done to validate the effectiveness of marketing the bank’s deposit and loan products. Next step would be to test the solution. The bank can initiate a career day at schools to provide education to teenagers in high school on the importance of saving. From there, the bank’s marketing team can launch a market campaign for savings accounts with no minimum balance requirement. Simultaneously, personal loans can also be marketed in the community with introductory zero percentage rates. The last step to this decision-making process would be implementation. Company will then take the test results and if successful, make necessary action to make full implementation.
Elements of Critical Thinking
With the range of decision-making processes, critical thinking reigns as the primary function to deliver the most effective solution. Through a decision-making process, an individual is forced to apply critical thinking skills to each step. The collaborating decision-making process requires one to brainstorm alternatives. In the case of Kava and cultivating a successful business, the brainstorm technique fits the...

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