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Management Essay

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Below is an essay on "Management" from Anti Essays, your source for research papers, essays, and term paper examples.

CASE APPLICATION:

FAST COMPANY

DISCUSSION QUESTIONS:

Q1) How do you think good decision making has contributed to the success of NASCAR?

Ans) Every business needs a good decision making strategy to hit the success. Considering NASCAR’S success, I think that there are must be some good decision making processes going on to get the unlimited success for the NASCAR company. For Example: During the early year the founder of the company Big Bill had a decision to promote their NASCAR car as a sports official with the help of the race track owners. Therefore, NASCAR got promoted and sponsored by the R.J Reynolds Tobacco Company and held the first Winston 500 race in Talladega, Alabama. Afterwards, to increase the product level, NASCAR decided to have some sports channel promoting their car such as ESPN, TNT, and Fox. All these early decisions help NASCAR to raise their product level and hit the success.

Q2) A decision to go after a new market as Brain is doing is a major decision. How could he have used the decision making process to help making this decision?
Ans) I think, Mr. Brain has realized that, though his company hit the high success of sports car market, it really necessary to have a change using this reputation. So he has come up with an additional plan based on the existing product. The idea of making change is to create driver safety requirement. In this way Mr. Brain follows some decision making process. First of all, he identifies the problem, which is the driver safety. Mr. Brain also decides to get in touch with new fans by launching new product and at the same time increase the revenue. After defining the problems, he considers the criteria. These are safety driving, getting new customer and the market diversity. The criteria will give him alternatives. He might pay attention on two alternatives that which will give him a better out come. He should develop the pros and cons for each alternative, than analyses the options by researching...

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Management. Anti Essays. Retrieved December 13, 2018, from the World Wide Web: http://cassandralynndesignllc.com/free-essays/Management-75608.html