Fe’nix Del Sur Case Study
In the case study of Fe’nix Del Sur, a company that sells large variety of artifacts belonging to South American and African according to the authors. I will intent to describe the use of DECIDE process in the evaluation decisions process of a company, analyze the four analytical categories for examining the case, it also describes the market of Fe’nix Del Sur, it’s possible target markets being considered by Fe’nix Del Sur and also explain Fe’nix’s distinctive competency (Kerin & Peterson, 2010).
DECIDE process
Kerin and Peterson describe the DECIDE process in which a problem statement is clearly defined and established. In this case, one problem identified is the lack of supplies that forced the company to search for new buyers. Therefore this also cause Fe’nix Del Sur, to use decision factors in finding the alternative courses of action, such as identifying extra buyers and exploring department stores organizations. They used other step in evaluating the decision is considering all important information related to its alternatives. The artifacts have been reduced by increasing competition. The trust issue was affected when the market became full of replicas that have affected that look almost real. Then the fourth step which involves identification at its best with the alternatives; this step helped in increasing the company’s revenue and profits. Furthermore, to meet the ethical violations the company made it clear to its customers “that it is selling both replicas and authentic replicas by creating price differentiation presented by the mass-merchandise department store” (Kerin & Peterson, 2010). This strategy reduces the chances of misleading the customers and also increase the transparency level and it restore the trust. Its final stage is development and implementation plan for he selected alternative.
Analytical Categories
The four analytical categories to examine when formulating a case study are:
• Nature of the industry
• The organization
• Plan of action
• Potential outcomes
Nature of Industry
The market lacks authentic artifacts but buyers want authentic artifacts which has become difficult to obtain because competitors are introducing replicas in to the market that decreases consumers trust. The company’s major competitor is government because they do limited exports of artifacts due to their importance (Kerin & Peterson, 2010).
These data affect the consumer decision-making process through alternative evaluation, the consumer compares the different choices to best meet their individuals need. The consumer decides the criteria for judging the alternative products or services by evaluative criteria. Consumers use tangible and intangible criteria, and when evaluating alternatives, determine qualities that are important and evaluate the alternatives.
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Some decisions prove to be vital and any miscalculation that may be involved may prove dire for the individual or the organization. In identifying the criterion to use while evaluating different decisions, many factors pertaining the structure should be considered. The pros and cons of every decision made should be evaluated to ensure that the option chosen has the most positive effect on the individual and the organization. Some of the activities that may require keen decision making include project development, finance and operations. With the knowledge attained it will be easier to cope with tough decisions that may come up in my career. Decision making models may be generated to give an in depth view to the problem and also provide critical analysis ability. It is also vital noting that for those in managerial positions, they face a bigger task in decision making. A good understanding of the business function and structure will provide an in depth knowhow to those that have studied the
Able to make valid and clear conclusions about the competition faced by the business, based on the analysis.