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1.1 After the introduction, the students must adopt an appropriate decision-making model and evaluate the key problems within the business, such as entering a new market (UK) or competing with FDI
BDM Module 5 Assignment Guidelines:
1.1 After the introduction, the students must adopt an appropriate decision-making model and evaluate the key problems within the business, such as entering a new market (UK) or competing with FDI (Foreign Direct Investment).
You must demonstrate how the different business decisions making models which are going to be used by the company are likely to produce an effective impact, via the process of strategic decision-making analysis. You must also show how they will achieve the objectives. Management must demonstrate by their use of the models, how that will help them to provide better results.
1.2 The plan you will follow will focus on secondary data as opposed to the collection of primary data. The reason being are ‘time-constraints’. The problems would for example include data gathering, access to data, or any problem the students encounter during the writing process,
1.3 Emphasis must be given to the decision-making framework (see assignment tasks for details) and the business decision-making process, e.g. 5, 6 or 7 step process. or it can be a problem facing the Company itself such as lack of information, market research, entry modes (FDI, partnership, collaboration, merger or acquisition). Ideally, in the business world,
Planning the research plan: ‘Space-for-Rent’ is lacking competitive advantage while entering a new market. Collecting valuable information and creating sources from both primary and secondary data can help the business to understand the business environment and make an effective solution that can foster growth and expansion.
Secondary data is the data that is already present and there are a number of online available sources. Examples include ‘You-tube’ videos; Data will be collected from industry reports, relevant journals, market research data
2.1 You will be required to do a SWOT analysis, or any other analytical model, for evaluating the competitors and analysis of the current market trends. such as a PESTEL, Porter’s 5 forces, etc. for this section
This section in the report should include an analysis of data that has been collected from various resources. These data might be represented through current market analysis, line chart, etc to showcase the data effectively for making an effective decision and better understanding. 1.1 After the introduction, the students must adopt an appropriate decision-making model and evaluate the key problems within the business, such as entering a new market (UK) or competing with FDI (Foreign Direct Investment).
If appropriate, you may choose to use ‘Simons’ decision-making model.
Analyses the activities of problem-solving technique and the proposed solution. The problem-solving technique contains four steps process that helps to analyze the current problem of the business and take the right measurement to solve it. See the models suggested in the Assignment
Defining the problem: for example, ‘Space-for-Rent’ business-main problem is the market competitor. As ‘Space-for-Rent’ is entering in the UK market, they have to face the existing market competitors, unknown market(s) etc
Look at: 1. Alternative solution: 2. Evaluate and select the alternative: 3. Implement
4. Make a Recommendation