Decision Process in Grocery Business Launch

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Table of Contents

Introduction
The Decision Process I Took
The similarity of My Decision Process to the Process in the Text
Alternative Decision
Reference

Introduction

The need to realize independence after completion of high school education became a fundamental part of my life. I had made plans to establish a grocery business. A premise for the operation of the business was required. Consequently, the idea to buy a house came up. The idea was to manage the business and stay in the house. It was not an essentially instantaneous decision. It took much deliberation, consultation, and collection of information. Thus, the decision to purchase a house became the foundation of the decision problem that this paper describes.

The Decision Process I Took

The decision process began with the identification of the problem. The problem was to acquire a house to use as a business and residential area. The determination of the problem required that symptoms that demonstrate its existence are identified (Bateman & Snell, 2011). The first symptom was the need to be independent and operate a business.

Secondly, the examination of factors that limit the possibility of realization of the plan was inevitable. It is essential to determine available resources before the completion of critical decisions. The situation was not ideal. It required that available resources, like funds to purchase the house, be determined. Subsequently, all limitations were identified.

After identification of the limitations that existed, the development of potential alternatives took place. This required a comprehensive examination of the problem and identification of other alternative solutions. The fundamental purpose of verification of alternatives is to determine the consequences that may occur due to the implementation of the options (Bateman & Snell, 2011). I had to determine various types of consequences. Different consequences may arise due to the implementation of various options. One of the alternative options was to rent a house. The other alternative was to manage the business in the streets.

Discussions with my family members took place during the evaluation process of the possible alternatives. The evaluation process involved the identification of the intrinsic worth and demerits of each option. It further involved the determination of the costs and benefits of each option. After this, the alternatives were weighted based on their ability to meet the main factors in the decision problem. The main factors were attainment of independence and operation of a grocery business. Finally, the feasibility, effectiveness, and consequences of each alternative were noted.

The next step involved the selection of the appropriate option. The best option was one that resulted in more advantages and few demerits (Bateman & Snell, 2011). The best alternative was to rent a house. It solved the problem that I faced. Additionally, it was cheap and practical. A lot of money is required to buy a house. The purchase of a house would have reduced the amount of capital available for the grocery business. On the other hand, to operate the business in the streets was risky. Moreover, it does not assist in the achievement of independence. Hence, I decided to rent a house.

The final stage in the decision process involved the creation of a management and evaluation mechanism. This required identification of results and necessary adjustments. The goal of this step is to determine whether the problem that existed was solved. However, there were no results or adjustments required in the decision that I made.

The similarity of My Decision Process to the Process in the Text

The process I used to make the decision to rent a house is similar to the process described in the text. Both processes begin with the identification of the problem, generation of alternative options, and evaluation of the alternatives. Finally, both processes move to the selection of the best option, implementation of the best option, and evaluation of the decision made (Bateman & Snell, 2011).

Alternative Decision

The steps I took to make the decision not to buy a house are similar to the steps described in the text. Hence, the decision to rent a house would have been made even if I had used the steps described in the text. However, if I had not used similar steps, an inferior decision would have been made.

Reference

Bateman, T. S., & Snell, S. (2011). Management: Leading & collaborating in a competitive world. New York: McGraw-Hill Irwin.

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Decision Process in Grocery Business Launch

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