Managerial Decision Making Term Paper Example | Topics and Well Written Essays - 1500 words

Managerial Decision Making - Term Paper Example The studies that have been conducted by the bank are full of fuss, you can see that the bank is already putting a lot of money for conducting focus groups and collecting the business owners suggestions, it is all quite unusual and a big amount of risk is also involved here, the strategy that the company is applying is not a suitable one, there must be so many other alternatives for a much better data collection and analysis though it would require some more time and some human resources which would also have some investment but relatively less. The challenge is that the competitors are now quite aware of the fact that there is a new product going to be launched so they all know it and they must have also started making plans to ruin the scheme, though it is no longer remained to be an attack over competitors and most importantly the company itself can be under attack as the data collection is not very appropriate, the other challenges that might appear can be from the middlemen which in this case are people to whom the customer would bring the card and use such as the shop owners and other business owners, what they simply can do is that they can change their policies which would for sure ruin the entire scheme and also they can refuse to help the bank in their launching of such product. Another type of challenge is that the bank is unable to find the right target audience, it considers the entire population to be eligible to have this card, what should they have had done was that they should have asked their current customers to use their new product, on successful launching they would have been able to launch it nationwide, and most importantly they should try to convince each and every single departmental store or business owner as they are also unsure about which particular class uses which particular store.  Ã‚