An opportunity to grow HH into a $75 million dollar business

Required Element One:

Discuss the type of information that HH needs to gather to make a decision. Discuss the biases and traps that should be avoided in gathering information and interpreting (selecting it).

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You provided a good discussion of the specific types of information required to make the decision.

Required Element Two:

Create FOUR possible alternatives for HH. Discuss each of these alternatives in detail, identifying potential biases, consequences, and risks.

CREATING ALTERNATIVES:

NOTE: Your alternatives should indicate how you intend to achieve each objective.

1. What would be the impact of the consequences on each objective?

2. Specifically discuss the level of risk associated with each alternative.

Note: The decision cannot be made without an assessment of the levels of risk relative to the four objectives–low level of risk, medium or high level of risks.

Recommendations:

See a sample of the consequences table (below) after my recommendations.

Identifying and Discussing the Consequences of Each Alternative:

● Describe the consequences for each alternative.

● Are the consequences, complete, precise, and accurate (in contrast to being incomplete, imprecise and inaccurate?)

● Identify the risks and uncertainty relating to each consequence (weigh your risks)

Address the following:

1. Provide a detailed discussion some of the consequences and risks associated with each alternative.

1. Identifythe risks relating to each alternative.

2. Assess the level of risk relative to each alternative (each objective):

Is there a low level of risk, medium or high level of risk?

3. Cognitive Biases:

Identify and discuss the cognitive biases relating to each alternative.

4. Alternatives:

Do the four alternatives adequately address most of the objectives?

Combine two alternatives and add an alternative to reflect some of the following:

Importance of organizational changes:

Articulate the importance of the company’s strategic objectives, how it can enhance the company’s capability to achieve sustained growth and competitiveness and the flexibility to identify and benefit from new market opportunities.

Consequences Table:

● The Alternatives are listed in the vertical axis.

● The objectives are listed on the horizontal axis.

Objective OneObjective TwoObjective ThreeObjective FourTotal Value
The best way (s) HH can develop a sustainable growth strategyThe best way (s) HH can enhance its competitiveness and capture new opportunities.The best way (s) to keep abreast with changing market trends and consumer preferencesThe best way (s) to develop HH’s core capabilities and fulfill its strategic objectives.
Alternatives(Consequences)
Alternative One(Consequences)Taking Hannah’s Hats public with an initial public offer will grow the company by allowing the public to invest into the company.
Alternative Two(Consequences)Collaborating with a larger brand can allow HH to expand its customer base and increase notoriety of HH.
Alternative Three(Consequences)Transitioning solely to an e-commerce can significantly cut expenses of having a brick and mortar store.
Alternative Four(Consequences)Lastly, altering the prices of HH products has the potential to make the company more appealing to large retailers while being more competitive with other brands, this can increase customer sales.

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