The Root Cause(s) of the problem The problem that the company is losing their loyal customers and their product is getting returned is either due to the quality of their product or due to their dysfunctional delivery channels. With the increase in the competition in the market, customers have more choice of buying the same product with better quality and getting it delivered in a timely manner. From the case, we can assume timely delivery and quality product are two of the most important criteria for their customers. Causal Togs has been struggling on both of these fronts which have allowed their competition to swoop in and has resulted in the company to lose its loyal customers. The organisation shows resistance to change and many workers …show more content…
The present-day business environment is characterized by increasing competitiveness in different industries. The owner Cy is aware of the increasing competition. The company has leased new production plants in seven southern states and one in Arkansas. This investment has put extra pressure on the company to generate revenue and stay in the competition of the market. Economic factors play a crucial role in any investment decisions that are made for taking a gain and better return to the investor. Economic analysis and company performance forecasting are necessary for making investment management (Hiriyappa,2008). There is lack of investment management which has exerted burden over the company to keep getting revenue for current as well as new production plants. If the new plants were set up after examination of organization’s structure and forecast of sales and revenue, then the situation would have been easier. The company mainly depends upon reports by managers who are not communicating well with each other as they are not co-operative. There is an information overload which as barrier to effectively communicate within the organization (Robbins, 2011). They lack the human skills required to be a good manager. They make decision marked by emotional outbursts which means that they are not being rational. For making decisions …show more content…
It is seen in Casual Togs that they somehow did not give much attention and importance to this section as forecasting responsibility was given to Andy, who in return did this work using his intuition and experience. If Andy’s intuition fails, then the company is left with unwanted stock which ultimately was sold at loss. Intuition is making decisions on the basis of experience, feelings, and accumulated judgment. Such a manager does not rely on systematic and thorough analysis of problem or identification and evaluation of alternatives but instead uses his or her experience and judgment to make a decision. Research shows that managers who use intuition to make decisions show a higher decision-making performance only when it is accompanied by some evidence-based management (chapter 7 “Decision Making”). So, Andy should not only rely on intuition while making this important decision but also use some reasonable evidence that guarantees perfection in
Tootsie Roll Industries have implemented several internal growth strategies to ensure company success. First, Tootsie Roll has engaged in market penetration through their advertising campaigns on television domestically and internationally. Second, the company has used market development by extending their sales efforts into international regions, such as the Far East and Europe, and through expanding their sales efforts in warehouse clubs. Third, Tootsie Roll has used product development by creating new package designs for its Warner-Lambert products. Fourth, Tootsie Roll has used vertical integration by using corn syrup as a substitute for sugar and creating its own refinery.
Hi Jeromith, I have to say that I tend to jump to conclusions by recalling outcomes to previous situations. Intuitive decision-making is useful as a manager for repetitive decisions unrelated to people. Although aware of the faults related to the bias it is difficult to overcome ones nature of to jump to conclusions and fill in the gaps. Particularly when dealing with an employee that tends to be negative or is often the focus of conflict.
In the article, “The Science of Making Decisions” by Sharon Begley, “The booming science of decision making has shown that more information can lead to objectively
This type of managers gets frustrated and angry when under pressure or instant changes to work schedule. Example, a chief in the Navy who showed tremendous potential and a strong ability to drive results for the department, when asked to describe him, his colleagues would say things like: “he’s a bull in a china shop;” “he has sharp elbows;” and “he leaves dead bodies in his path.” His approach to executing projects was not sustainable as he wasn’t able to motivate, attract and retain good talent. His direct reports pointed out how frequently the chief seemed oblivious to how he demeaned others. His boss commented on the chief’s impatience and his tendency to lash out at his peers.
In regards to understanding the importance of decision-making in people there has been careful study and experimentation. Among the notable ideas produced by researchers in this department, is a study produced by
Due to the increased costing issues, product and services prices have to be increased heavily. Therefore customer satisfaction level has been dropped dramatically and customer complaints rate has been hiking. With the increasing number
1. Case: Crown, Cork and Seal in 1989 (a) Perform an industry analysis of the U.S metal can industry in 1989.Define the industry. Analyze the effect of buyer and supplier power, competition, barriers to entry, complements and substitute for the industry. Summarize your assessment of industry’s attractiveness. Is this an industry in which the average metal company can expect an attractive return over the long run?
In my work environment, an announcement was made for a change in uniform policy with very little explanation. The group began to swirl rumors and form opinions about how this was terrible and that it would be costly and not a positive move. At the end of the week, there were petitions signed, resumes polished and a staff of angry people against this horrific change. The group had molded the perceived change into a terrible thing. Once management became aware of the movement of disdain, they began to communicate with the staff which was already angry and had a formulated an opposition against the change.
Finally, the naturalistic perspective argue that decision making cannot be described in general terms, thus it cannot be formalised in models and procedures. Rather, managers should “reflect in action”. Particular stress is placed upon intuition, which depends on experience and allows experts to recognise and quickly react, almost automatically, to situations. The shortcoming of such view is the inability to address in the same way novel situations.
A conflict is known to be a common process within an organisation. In Tesco, conflicts are observed at different levels among members of groups and come of them are competing. In such type of conflict, group members pursue their concerns apart from the resistance of other employees. It may involve employees pushing their view points at the expense of others while maintaining the organisational resistance to the actions and activities of other members within the group. For instance, it may be observed that one employee feel his voice and opinions about some matter are being not considered by other members and management of the organisation.
Also, it will develop a strategy that illustrates how I would address each of the eight stages of change. Next, this paper will identify potential resistance to change, and describe how the organization should manage this resistance. Further, it will outline three communications strategies I would use, as well as propose
While on the other hand, inaccuracy in forecast can lead companies
Effective Decision Making Decision making is an important requisite for management and leadership. Through decision making, people are able to make decisions of quality. However, decision making alone will not suffice. A person should be able to have a problem solving skill as these two are closely linked with each other. If problem solving and decision making are used skillfully, people are able to become creative in indentifying solutions for problems which require a mixture of skills.
Decision Making Journal Reflection The art of effective and efficient decision-making can be an intricate matter. The purpose of this paper is to discuss the extreme importance of rational decision-making and how decisions can either positively or negatively influence us and other individuals. Additionally, it is crucial for business organizations to make adequate decisions that benefit all parties associated with that organization to guarantee future success. Why Decision-Making is Important
The success of any business in the field is determined by the frequent decisions made not only by the managers at top levels but also managers of significant projects. Decisions in business are closely affected by risks involved in the implementation of strategic business goals and general future plans. Therefore managers need to spend more time in the decision-making process so that the possible outcomes in future are successful. In business a good decision is recognized when the idea achieves two objectives, one being the desirability of each outcome delivered and secondly likelihood of the choices made in generating different outcomes. Generally, good decisions require good judgment as well as greater prediction of final outcomes.