An opportunity to grow HH into a $75 million dollar business
Class hope all is well. The events that caused HH to make their decision are the following:
1. An opportunity to grow HH into a $75 million dollar business
2. The possibility of gaining a sophisticated selection wave
3. The possibility of making HH a leading brand
The primary objectives that HH must achieve because of the decision are the following:
1. Expand the market opportunity for income growth from USD 7 million to 75 million by increasing income growth from 35 percent to 25 percent.
2. Making sure that there is growth in the Adult section is critical.
3. Managing operational costs more carefully.
4. Creating an online presence
5. Collaborate on a new product that is more effective
6. Monitor the threat of major competitors such as LLB.
The following decision statement is valid:
1. HH overall sales had dropped from 35% to 25%.
2. The previous year sales showed the grown-up cap department decreased 22%
while other sectors, such as Kid’s caps and e-sales, were growing.
How the decision statement corresponds to the MDQ model steps:
1. Assess the facts around the proposed decision in order to characterize it. HH’s sales, for example, were sliding back down from 35 percent to 25 percent, with a 22 percent fall in sales in the Adult cap segment, according to economic data.
2. The decision can be influenced in three ways:
1) Purpose – HH needs to increase sales to a target of $75 million.
2) Scope – HH would need to focus on growing sales in the Adults segment rather than the children’s segment.
3) Viewpoint – The point of view on the best path to a decision. HH would install advanced channels to bring in new revenue.
3. Make the decision – HH has enlisted the help of experts to study financial data as well as the business’s serious landscape.
4. Survey and Make a Decision – Evaluate all aspects of the decision and conduct a thorough analysis. HH is considering investor partnerships and retail partners to help accomplish their goal of achieving the desired sales growth.
5. Evaluate the Choice’s Impact – HH should contrast its chosen style to increase sales.
The focus of a decision statement should be on resolving an issue instead of anticipating the potential solutions. The decision statement may develop a predisposition to the decision- making, anticipating solutions.
Reference
University of Maryland Global Campus. (n.d.). Hannah’s Hats case study. Document posted in UMGC BMGT 317 7380 online classroom, archived at https://learn.umgc.edu