Assessing Business Decisions
Businesses use information from the external environment to make decisions all the time. As consumers, we notice these changes but don’t recognize the reasoning behind the choices. For this assignment, you will be tasked with researching a recent business decision and connecting that decision to its’ external environment influences. Being able to apply the concepts you’ve learned this week to real world examples is an important skill. It will give you a more in-depth understanding of decision making and business strategy.
The assignment should be at least a page and a half in length, adhere to APA standards, and address the following:
- Research an article in which a business makes an important strategic decision. Examples could include the release of a new product, purchasing another company, or marketing to a new group of customers.
- Summarize the article that you found.
- Identify which factors of the external environment influenced the company’s decision. Pay close attention to customers, suppliers, competition, technology, sociocultural trends, legislation, and economic trends.
- Explain how you believe these factors impacted the decision.
- Give your opinion on if you believe this was a good choice by the company.