PLEASE USE THE COMMENTS FROM ATTACHMENT 1 AND 2 TO REDO THE DISCUSSION BELOW. THANKS Good evening, Class hope all is well. The events that caused HH to make their decision are the following: 1. An o

PLEASE USE THE COMMENTS FROM ATTACHMENT 1 AND 2 TO REDO THE DISCUSSION BELOW. THANKS

Good evening,

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

Essay Preview.

Introduction

HH is a company that has recently made a decision to expand their business and increase their sales from $7 million to $75 million. This decision was made in order to take advantage of a growth opportunity and to make HH a leading brand. In order to achieve this goal, HH must focus on expanding their market, improving their online presence, collaborating on new products, and monitoring competitors. In this essay, we will discuss the events that led to this decision and the objectives that HH must achieve as a result. We will also analyze the decision-making process using the MDQ model and discuss the importance of a clear decision statement.

Events Leading to the Decision

There were several events that led to HH’s decision to expand their business. The first event was the opportunity to grow HH into a $75 million dollar business. This presented itself as a unique opportunity for HH to increase their income and establish themselves as a leading brand in the market.

Another event that influenced HH’s decision was the possibility of gaining a sophisticated selection wave. This would allow HH to offer a wider range of products and potentially attract more customers.

Finally, HH saw the potential to make their brand a leading one in the market. This would require them to expand their market and increase their sales, which aligns with their goal of increasing their income from $7 million to $75 million.

Objectives to Achieve as a Result of the Decision

In order to achieve their goal of increasing sales and expanding their market, HH must focus on a number of objectives. These include:

1. Expanding the market opportunity for income growth from $7 million to $75 million by increasing income growth from 35 percent to 25 percent.

2. Focusing on growing sales in the adult segment, as this is an area where HH has seen a decrease in sales.

3. Managing operational costs more carefully in order to maximize profits.

4. Creating an online presence in order to reach more customers and increase sales.

5. Collaborating on a new product that is more effective and appealing to customers.

6. Monitoring the threat of major competitors such as LLB in order to stay competitive in the market.

Decision-Making Process Using the MDQ Model

The MDQ model is a useful tool for analyzing the decision-making process. In the case of HH’s decision to expand their business, the following steps of the MDQ model were followed:

1. Assessing the facts: HH gathered data on their current sales and the performance of different product segments in order to understand the state of their business.

2. Influencing the decision: HH identified the purpose of the decision (to increase sales to $75 million), the scope of the decision (focusing on the adult segment), and the viewpoint (using advanced channels to bring in new revenue).

3. Making the decision: HH enlisted the help of experts to study the financial data and the competitive landscape in order to make informed decisions.

4. Surveying and making a decision: HH evaluated all aspects of the decision and conducted a thorough analysis, considering options such as investor partnerships and retail partners.

5. Evaluating the impact of the choice: HH compared their chosen approach to increasing sales to alternative options in order to determine the best course of action.

Importance of a Clear Decision Statement

A clear decision statement is an essential component of the decision-making process. It helps to focus the decision on the key issue that needs to be resolved, rather than anticipating potential solutions. A decision statement should be specific and objective, and should not include any preconceived notions about the best course of action.

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