Problem Formulation Essay

Below is a free essay on "Problem Formulation" from Anti Essays, your source for free research papers, essays, and term paper examples.

Problem Formulation and ID Essay
Nandi Harmon
MGT/350 Critical Thinking:   Strategies in Decision Making

Logical Decision Making
The focus is on facts and reasoning when using logical decision making process. It is believed that BCBG Max Aria Group (BCBG) uses logical thinking when making decisions.   The company gives their management tools to help management and their employees think logically about the business.   Managers of stores are given a journal of last year figures so that they can logically plan and make decisions on how the team will make their goals.   Managers of stores also are given a document that helps them document each sales person’s sales for the previous month, goals from the previous month and their percent to that goal.   The reason this is given to the management is to give help to expose their employee’s weaknesses.   The managers then will give the document to each sales employee.   Both the manager and employee come up with a decision on how to make the goal for the current month.   They do this by focusing on their weakness and turning it into strength.   This type of decision making is logical decision making.

Identifying Problems to Stakeholders
BCBG makes many decisions that affect their internal and external stakeholder’s decisions.   Stakeholders generally have some type of interest in the business.   Stake holders also have the po=wer to influence business decisions.   BCBG’s customers are considered external stakeholders.   Sometimes the brand has to make changes that may have to be explained to their external stakeholders.   Sometimes sales people have to explain why a garment may cost more than a similar garment in the collection or another brand.   Sometimes the quality of the fabric, if it is hand knit, or hand sewn will cause the price difference.   When employees of BCBG educate external stakeholders on garments, most customers feel better about the pricing.
Employees of BCBG are considered internal stakeholders.   Sometimes...

Read Full Essay

Citations

MLA Citation

"Problem Formulation". Anti Essays. 14 Sep. 2014

<http://www.antiessays.com/free-essays/Problem-Formulation-108483.html>

APA Citation

Problem Formulation. Anti Essays. Retrieved September 14, 2014, from the World Wide Web: http://www.antiessays.com/free-essays/Problem-Formulation-108483.html