Example of Six-Step Decision Plan Essay Example
Rainier Joseph S. Viacrucis. MBA-1
Managerial Decision Making
Using the six-step Decision-Making process:
1. Identifying the Problem and its details: a. A teenager is asking his/her parents to buy a high-end gadget that is the trend/must-have of his/her generation (ex. I-phone or I-pad) as a present for his/her birthday b. The teenager is given an allowance of 200 pesos per school day. c. The family is living on a budget, and is cutting its cost – the parents do not want to spend beyond the allowance of the teenager. d. There are possible part-time jobs available though there are no known detailed facts on them.
TASK: Help the parents decide on the best solution to the situation/ what to do in the situation.
2. Developing Possible Alternatives: a. Buy Gadget – Buy the gadget immediately; since it is the birthday of their child; he/she will only be a child once in a lifetime, this will show that you really care about him/her.
b. Reward System – Negotiation of a reward system for better grades or exam results. The exams results or better grades must be worth the reward.
c. Buy Gadget Substitute – Parents can by a substitute of the high-end gadget; which may look like the real thing or have the same functionality with the popular one but with a much lower price.
d. Garage sale proceeds – The parent and teenager can agree to sell old items of the teenager via “Garage Sale” and the proceeds of the endeavor will be used to buy the gadget the teenager wants.
e. Part-Time Job – The teenager can opt to do a part-time job. It may take time to gather up the money needed to buy the gadget.
f. Installment Payment of the Gadget – The parents can buy the gadget via “installment basis” and will cut-off the allowance for a significant amount which will be used to pay/help pay the monthly installment.
g. Matching Savings (50/50 savings) –
Managerial Decision Making
Using the six-step Decision-Making process:
1. Identifying the Problem and its details: a. A teenager is asking his/her parents to buy a high-end gadget that is the trend/must-have of his/her generation (ex. I-phone or I-pad) as a present for his/her birthday b. The teenager is given an allowance of 200 pesos per school day. c. The family is living on a budget, and is cutting its cost – the parents do not want to spend beyond the allowance of the teenager. d. There are possible part-time jobs available though there are no known detailed facts on them.
TASK: Help the parents decide on the best solution to the situation/ what to do in the situation.
2. Developing Possible Alternatives: a. Buy Gadget – Buy the gadget immediately; since it is the birthday of their child; he/she will only be a child once in a lifetime, this will show that you really care about him/her.
b. Reward System – Negotiation of a reward system for better grades or exam results. The exams results or better grades must be worth the reward.
c. Buy Gadget Substitute – Parents can by a substitute of the high-end gadget; which may look like the real thing or have the same functionality with the popular one but with a much lower price.
d. Garage sale proceeds – The parent and teenager can agree to sell old items of the teenager via “Garage Sale” and the proceeds of the endeavor will be used to buy the gadget the teenager wants.
e. Part-Time Job – The teenager can opt to do a part-time job. It may take time to gather up the money needed to buy the gadget.
f. Installment Payment of the Gadget – The parents can buy the gadget via “installment basis” and will cut-off the allowance for a significant amount which will be used to pay/help pay the monthly installment.
g. Matching Savings (50/50 savings) –