Decision Making Process
Describe how you would handle the decision making process in the following scenario: You and a close family member have decided to open your own retail clothing store. You have equal investment risk, but different skill sets that bring a well-rounded approach to the overall business strategy. Critical business decisions must be made and as with any business there are times when partners do not agree. Write a paper describing the business decision making process and how conflicts would be resolved for launching a controversial line of clothes. Your paper should include the following:
- What is the decision making process normally used by you and family member?
- Is there one person responsible for the new line of clothes or accessories due to their experience and skill set, or are decisions mutually agreed upon?
- Describe how the conflict would be resolved with you wanting to launch the clothing line, while your business partner does not.
- How would the decision-making process help resolve this conflict?
Consider the special challenge of working to make a company decision with family involvement.
The requirements below must be met for your paper to be accepted and graded:
- Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.
- Attempt APA style, see example below.
- Use font size 12 and 1” margins.
- Include cover page and reference page.
- At least 60% of your paper must be original content/writing.
- No more than 40% of your content/information may come from references.
- Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.
Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as, scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.