1-24 Five-step decision-making process, manufacturing. Real’s Bees makes product
ID: 2540563 • Letter: 1
Question
1-24 Five-step decision-making process, manufacturing.
Real’s Bees makes products for personal care and sells through retail outlets and grocery stores. Its product line includes products for facial and body skin care, lip care, baby care, and outdoor remedies. The company wishes to enter into the hair care segment to make its product line stronger. The managers at Real’s Bees take the following actions before taking the final decision. The actions are not listed in the order they are performed.
a.Production managers, with the help of cost managers and research wing of the company, prepare an estimate of costs for introducing hair care products.
b.Managers expect to grab a good market quickly by selling hair care products to the existing customers.
c.The company decides to introduce a new hair care product rather than introduce a new variant of any existing product.
d.Sales managers estimate they will sell more hair care products in the middle-age group.
e.The managers feel that introduction of hair care products is necessary to cope with competitors.
f.Incremental revenues by selling the new hair care product are budgeted.
g.Sales managers conduct Internet research to find out the present sales growth in the hair care market.
Required: Classify each of the actions (a–g) as a step in the five-step decision-making process (identify the problem and uncertainties; obtain information; make predictions about the future; make decisions by choosing among alternatives; implement the decision, evaluate performance, and learn).
Explanation / Answer
Among a-g, nothing can be classified as implementing decision, evaluating performance and learning.
a)make predictions about the future
b)make predictions about the future
c)make decisions by chosing among alternatives
d)make predictions about the future
e)identify the problem
f)make predictions about the future
g)obtain information
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