Determining the decision-making process

Assignment Help Business Management
Reference no: EM132551930

Jim Forrest is CEO of BigChip Inc., a medium-sized company that manufactures specialty microchips used in a variety of computers to facilitate efficient graphics processing. Jim recognizes the need to diversify his manufacturing operations and is considering starting up a new division, which would design, develop and produce security chips. These would be used in situations ranging from data transmission to securing financial transactions. Other companies are also considering involvement since the security market is potentially a large one. Jim knows that the rapid advancements in the field of computer hardware and software necessitates an innovative and aggressive approach to the development of any new technology. Jim has been in a similar position with another company 5 years ago and lost a great opportunity because his team was not aggressive enough with timelines, even though they had developed a great product.

Identify and describe three (3) biases that could impact Jim's decision-making process this time around? What would be your recommendations to help improve Jim's decision-making process?

Reference no: EM132551930

Questions Cloud

Business level and functional strategies : Under levels of Strategies, explain how Corporate level, Business level and functional strategies defer?
Project costing and business continuity : Explain how ITPM best practices can facilitate process change within an organization. Evaluate the four risk-mitigation options and strategies.
Creating a single market and single currency : What effect did creating a single market and single currency within the European Union have on the competition within the European
Describe the ideal leader for situation : Obviously, this is a challenging time for the Kelowna General Hospital (KGH), and particularly for the hospital's Chief Administrator
Determining the decision-making process : Identify and describe three (3) biases that could impact Jim's decision-making process this time around?
New president of a technology company : You are being interviewed to become the new president of a technology company that has not launched a successful product
The value of the geographical perspective : Does location matter? - Death from cholera Does location matter? Customers for a Store Does location matter in the private sector?
Cloud computing and digital forensics : Cloud computing/cloud security: Describe the shared security responsibility model that a dba must be aware of when moving to the cloud.
Which type of hopper discharge wagon would be used : All of the products below can and are transported by train. Which type of hopper discharge wagon would be used for unloading the products

Reviews

Write a Review

Business Management Questions & Answers

  Explain how does mstn tv stack up characteristics

Explain how does MSTN TV stack up when you consider the characteristics that help a new product move through the life cycle more quickly?

  Describe different ways that learning occurs in workplace

Describe different ways that learning occurs in the workplace. -  Provide examples from your observation and/or experience.

  Briefly the actions required to form public limited company

List briefly the actions required to form a public limited company. State briefly what functions an Engineering Services Department in an industry may have

  Method for preventing similar problems in future

Based on the case study Changing a Promotion System (Pg. 531 - Pg. 532), determine what you believe are the three (3) primary weaknesses in BioGlass Inc.'s promotion policy. Next, describe two (2) solutions to address the identified weaknesses. Th..

  Current performance appraisal process

As the HR Manager, critically evaluate the current performance appraisal process at the financial security investment including brook's manager's behaviors and decision making as well as organization's role in this process.

  Motivating fred maiorino

What are the main points I need to cover in Motivating Fred Maiorino? Do you have any references you suggest I use?

  Component of remuneration

It is often difficult to determine what component of remuneration is most important for retaining employees - compensation or benefits.

  Define mixed strategy

Define mixed strategy. Why would a firm use a mixed strategy instead of a simple pure strategy?

  What appears to be the readiness level of the employees

Besides employee readiness (i.e., follower characteristics), what other situational factors are relevant in determining which leadership style to use? Explain.

  Evaluate an employer crisis management plan

Describe the criteria you would use to evaluate an employer's crisis management plan. What elements of the plan are most critical to continued business.

  Traditional and team working environments

Explain the difference between traditional and team working environments. Then explain how effective self-managed teams could be built.

  Explaining the values and cultural characteristics

Step 1  Access the activity. Passport Step 2  Chose a country and view the videos. Click a country to learn about and view videos explaining the values and cultural characteristics of that country. Step 3  Write a report.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd