Imagine you are managing a business (please relate this to your major) and you are faced with making a decision. The problem is an unstructured and you need to decide if it is beneficial to expand your business. The expansion could be open a new restaurant, add an addition to your medical office, merge with another business, purchase a competitor, or relocate to an area where the market fits your business service.
It can be any other scenario that would be considered expansion. As the manager, how do you go about making this decision? Think back to the example with the manager who needed to purchase a new car and the steps she took and how she weighted the criteria to assist in her decision. I want you to think about the decision-making process and if you as the manager need to use the rational model or bounded rationality.
Would it be best to bring in other partners to help with the decision, like a groupthink? Please post your answer with an explanation to the discussion board.
( My major is Marketing) no online copy, no online resource, own words.