The decision-making process is important at every level of an organization. Regardless of position, workers are faced with making daily decisions. Apply the six-step rational decision-making model, within Chapter 8 of your course text, to one of the following situations:
a. You are a product officer for a high-tech company. You have two new products to market, but only have funding for one. How will you determine which product to introduce?
b. A large advertising agency is working with a client who wants to gain market shares from its competitors by marketing to young professionals. The agency needs to decide whether to spend all of the marketing funds on a single form of media (internet, television, or radio) or to spread it across all three. What decision would you make? Why?
c. You are the corporate acquisition officer for a large oil company that has an interest in acquiring an additional small to medium-sized renewable energy company (solar, wind, etc.) in order to diversify your capabilities. What type of company should your organization acquire? Why?