Business decision making Assignment Example | Topics and Well Written Essays - 2000 words

Business decision making - Assignment Example Decision making process is a very significant function to any company that must attain success in the market. It stipulates the areas that the company can easily penetrate in the market without enormous incurrence on costs and any impending risks. Data collection is the approach that wills open doors for such a company to make an adequate decision from the analysis they arrive at as per the data segments (Carroll, 2008). In this paper is stipulated that data analysis is a significant faction which every company ought to adopt. The report revolves around a fashion industry selling fashion clothes, shoes, jeans and other related fashion components whose main target is the youth generation. It possesses a challenge since the youths are dynamics in their desires, this call for constant review of its products to meet the demand of its market segment. A group comprising of 20 youths is sampled from Coventry region who are interviewed on a major market trends about fashion and their take on how fashion impacts the development of new products in the market. Their involvement in the changes is the key factor that is considered (Bazerman& Moore, 2013). Decisions amount to the most significant components to business in the market regardless of its current position. For a business to start it must involve decision making processes and growing business must always apply different decisions for its growth purposes, otherwise growth and start-up will never be met. An agglomeration of factors must be taken into consideration on the particular field of the company. A company ought to ask such questions like what is my market size. What is the market trend? Who are my consumers? What is the market perception? Among other critical questions which will drive the company to undertake proper steps. Quality, quantity, location, size and other structural characteristics are influenced by the decisions made by management in a company (Teale,