MDQ STEP THREE: BUILDING THE DECISION
The purpose of this week’s brainstorming discussions is to address the type of information HH needs to gather in coming up with creative alternatives to use in the MDQ decision making model. Useful information involves researching anything that the decision maker needs to know that might influence the decision making process. This includes experience from past or future situations as well as factual information. Even though the decision maker has no control over future events, information needs to be gathered to anticipate outcomes, consequences or actions when acting on HH’s alternatives.
In Building the Decision, the decision maker will create FOUR viable alternatives. The case study mentions several obvious alternatives, such as: partnering with the investors or increasing E-commerce sales. However,NONE of these alternatives is strong enough on its own to meet all the objectives HH would like from the decision. Harry must look for ways to combine them with other possibilities to make stronger alternatives.
The expectation is to create alternatives that are creative, demonstrate critical thinking, use additional research, and meet as many of the objectives as possible. REMEMBER THE ALTERNATIVES MUST SATISFY AS MANY OBJECTIVES AS POSSIBLE.
Please utilize the following objectives to complete the assignment:
NOTE: The objectives are not prioritized. You will prioritize the objectives in week seven after the completion of the decision matrix analysis.
- The best way(s) HH can develop a sustainable growth strategy
- The best way(s) HH can enhance its competitiveness and capture new opportunities.
- The best way(s) to keep abreast with changing market trends and consumer preferences.
- The best way(s) to develop HH’s core capabilities and fulfill its strategic objectives.
1. By FRIDAY, complete the following:
- All conclusions, justifications, reasoning, and explanations must be supported with course material in the form of APA in-text citations (page/paragraph numbers required) and a reference list.
- Discuss the type of information HH needs to gather to make a decision. Discuss the biases and traps that should be avoided in gathering information and interpreting (selecting it). Watch your predisposition to select information that is in your comfort zone or might lead to a problem solving approach rather than a decision making one.
- Create FOUR possible alternatives for HH. Discuss each of these alternatives in detail, identifying potential biases, consequences and risks.. You are prioritizing risks and uncertainty relative to each alternative..
- Additional research will be required to support their viability.