MGT 350: Credenhill Industries Simulation Review Paper
What is involved in making a decision that is the question? Critical thinking requires the evaluation of information to sift out the meaningful from the irrelevant information. Critical thinking achieved by asking questions and anticipating potential outcomes of different courses of action can be invaluable in the development of solutions. Linda James, a leader with proven entrepreneurial expertise, runs Credenhill Industries, a 750 million dollar company with a diverse holding portfolio. New managerial executives at Credenhill Industries with the Thorough-Cred management development program are given the opportunity at being selected for an executive fast tracking program. One of the three executive training assignments was to turn around an under-performing electronics store with external and internal issues. Linda James would personally supervise the young executive overseeing the store turn-around. Using a criteria matrix analysis the young executive acting as the store manager in this assignment, determines the possible solutions for the challenges facing the store, declining sales, employee unrest, inventory levels and product mix concerns.
Framing the problem is the first part in the decision-making process. The electronics store has been experiencing numerous issues. Sales of the store have been dropping for the past eight weeks and the threat of legal action for violating local disability access laws has occurred. Linda James has put together a list of issues and some of these are real problems, while others are symptoms of bigger problems. Identifying and evaluating the real problems into critical or non-critical and urgent or non-urgent decisions will help in the decision-making process.
The second part of the decision-making process is making the decision. Linda James created a list of possible solutions for the stores problems. We were then given the opportunity of...