Action Plan of Decision Making

It is important for John to come up with great action plan, which not only deal with financial struggles, but also helps to increase demand of customers without doing any downsizing. So, here are few viable points of the recommended action plan:

·         The company should come up with new product line, which is based on innovative strategy and helps to differentiate from other products in the market

·         To get instant intention of the customers, John should ask his team to come up with a new promotion strategy, which attracts customers with more price discounts as well as benefits

·         John should ask his marketing team to instantly develop promotional activities on different channels so that customers attention can be grabbed as quickly as possible

·         John should also introduce a reward policy for employees on instant basis so that they may give their 100% in doing their tasks

References of Decision Making

Bhattcharyya, Rica. 2017. How to Motivate Workers in Tough Times. Accessed April 1, 2019. https://economictimes.indiatimes.com/jobs/how-to-motivate-staff-in-tough-times/articleshow/56881643.cms?from=mdr.

Heracleous, Loizos Th. 1994. "Rational Decision Making: Myth or Reality?" Management Development Review 7 (4): 16-23.

Huitt, William G. 1992. "Problem Solving and Decision Making: Consideration of Individual Differences Using the Myers-Briggs Type Indicator." Journal of Psychological Type 24: 33-44.

Nutt, Paul. 2002. Half Of Business Decisions Fail Because Of Management's Blunders, New Study Finds. Accessed March 31, 2019. https://news.osu.edu/half-of-business-decisions-fail-because-of-managements-blunders-new-study-finds/.

Quain, Sampson. 2019. The Decision-Making Process in an Organization. Accessed March 31, 2019. https://smallbusiness.chron.com/decisionmaking-process-organization-21532.html.

Schwartzman, Simon, Rómulo Pinheiro, and Pundy Pillay. 2015. Higher Education in the BRICS Countries: Investigating the Pact between Higher Education and Society. illustrated Edition. Springer.

Simon, Herbert A. 1979. "Rational Decision Making in Business Organizations." American Economic Review 69 (4): 493-513.

Vlaev, Ivo. 2018. "Local Choices: Rationality and the Contextuality of Decision-Making." Brain Sciences 8 (1): 1-22.