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1. How do you think good decision making has contributed to the success of NASCAR?
Answer: Every business needs a good decision making strategy to hit the success. To raise a company to the success level needs a solid plan and effective decision. Managers need to know certain steps for decision making process. Based on the text there are some criteria to consider while a manager makes a decision for the company’s 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. Despite this success, NASCAR also has a plan of making the sport grow in a way that invigorates hard core fans and make it attractive to people who might want to simple racing. Although making an effective decision needs lots of intonations, I think it should be based on existing success and product.
2. 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?
Answer: 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 information. After he has done all these work, he will know that which would give him a better opportunity of success. However, by implementing the alternatives he would focus on his goal and achieve the success.
3. What criteria do you think would be most important to Brain as he makes decision about the company’s future?
Answer: Criteria help people to make their decision effectively. Before selecting an alternative, Mr. Brain should really pay attention on all criteria because decision criteria will help him what relevant in a decision. There are different criteria in including in his decision such as developing foreign market, launching a new product but I think, he should consider to develop foreign market because without developing foreign market there would be a lot more risk to launching his new product. Market research will give him the customer’s interest and their expectation from NASCAR’s product. So Mr. Brain must use market research to make his decision about the company’s future.
4. Would you characterize the conditions surrounding NASCAR as conditions of certainty, risk, and uncertainty? Explain your choice?
Answer: I think, while the NASCAR Company making decision they will face the condition of risk. NASCAR wants to make the sports safer, which will create other problem additionally. The customer they already have now may not like the new addition of the car, for example, if they make the car safe for driving, the speed limit might be less than before. The set’s and car might be wider than it use to be. Therefore, customers who like danger, speed and fun driving might not like the new addition. On the other hand, the customers, who want simple race and comfortable safe driving might choose the new addition of NASCAR car. By summing up the risking factor I would say that NASCAR should try new product because taking risk is a part of business management. If company would not take risk, they might not be able to launch new product and aware about customer choice ether.
5. What could Brain learn from the concept of highly reliable organizations to help him be a better decision maker?
Answer: The highly reliable organization, which expertly sports the unexpected when it crops up and then quickly adapts to the changed environment. The highly reliable organization concept comes from Karl Weick, an organizational physiologist. He says that highly organization has five habits. First, they are not tricked by their success. Secondly, they defer to the experts on the front line. Third, they let unexpected circumstances provide solution. Forth, they embrace complexity and fifth, they anticipate their limits. I think all these 5 steps will help Mr. Brain to be a better decision maker. By the help of these 5 steps he will enable to take the risk for his new addition of the NASCAR car, adapt the change quickly and shows customer a positive outcome for safe driving. Moreover he might prepare his company NASCAR to provide the solution based on the circumstances. I think, all these 5 steps would give him a strong fit back to launch his new product in the market.
What role do you think goals play in planning done at Lend Lease? Explain.
Goals play a substantial role in Lend Lease’s planning. The goal of doing something that has never been done before is Lend Lease’s guiding philosophy, and it creates the standard that the business follows when determining new projects and ventures.
How does Lend Lease illustrate effective planning in a dynamic environment?
Planning involves defining the organization’s goals, establishing an overall strategy for achieving those goals, and developing a comprehensive set of plans to integrate and coordinate organizational work. Lend Lease clearly defined its goal—to do things that have never been done before—and began working to build the Bluewater shopping complex in Kent, England. The strategy that was established to accomplish the goal included team planning, which outlined the project. A project-control-group (PCG) was set up to accomplish the task of creating Bluewater. This group set accountability standards through using agendas, minutes, financial reviews, and other reports.
What approach to developing plans does Lend Lease appear to follow?
Lend Lease appears to follow formal planning. Specific goals with deadlines were set, and the end result was the completion of the Bluewater project early, under budget, and fully leased.
Would Lend Lease’s approach work in other organizations? Why or why not?
This approach would work in many organizations that have the flexibility and culture to allow for creativity and “thinking outside the box,” such as Lend Lease. The goals of the organization would have to reflect the desire to achieve something original or improve on the existing product and/or service.
5.Lend Lease has a strong commitment to environmentally sustainable
development. (Check out its Web site for information on its core values.)
How might these core values affect planning efforts?
From the web site: Commitment to Environmental Sustainable Development.
Lend Lease is committed to fostering environmental sustainability in our
activities and developments. The company prides itself on it willingness to
shoulder the responsibility of making a difference. Our objective is to ensure
a balance between economics, environment and social goods to provide
greater benefits to all. Our process is predicated on total stakeholder
involvement. This ensures that we capture innovation, manage costs, and
deliver ongoing benefits for all. It is clear that Lend Lease’s focus on planning
is driven by their environmental concerns.