Project Part B: Decision-Making
We all make decisions everyday of our lives. We make decisions from the moment we wake up until the last moments before we fall asleep. Decisions are an important part of our lives. Sometimes we make the right decision and sometimes our decisions to not turn out how we planned and we are left with the consequences. Organizations are faced with decisions. These decisions can be made by the top management down to a sales clerk at a retail store. The approach to solving a problem and making a decision can vary from person to person and organization to organization. Not all problems can be solved and decisions made following a rational approach. There are basic steps one can take to resolve a problem. The basic steps in resolving a problem are to first define the problem, then to determine the cause of the problem, select alternative approaches to the problem, select a solution, and implement the solution (McNamara, 2015). Defining the problem is a key step in implementing an appropriate solution. Defining the exact problem can be difficult. The following questions can help assist to determine what the main problem is: what happened, where it is happening, how is it happening, when is it happening and to whom is it happening. By answering these questions the root problem can be identified. Once the root problem has been identified, the he next step is to determine what caused the problem. Determining the cause of the may require multiple people and not just one person’s option. Opinions can be biased and it would be best to have multiple opinions to determine the best answer. Once the root problem is identified and what cause the problem to happen possible solutions can be created. As with determining the cause of the problem, multiple people would need to be involved in the solution process. Choosing the right solution will require brainstorming and group collaboration. Once the solution has been determined, a course of action can be implemented (McNamara, 2015).
Some organizations have a board of directors as the decision makers. Build-A-Bear Workshop has a board of directors. The board of directors consists of eight board members. There are three areas of concentration with each one having a chairperson. The board of directors for Build-A-Bear Workshop, Inc. would make the decisions for the company. The board of directors would deal with such decisions as financials, new store locations, electing new members to the executive board, and all other major decisions faced by the company (Build-A-Bear Workshop, Inc., 2015). Build-A-Bear Workshop Inc. recently add a new board member, Voin Todorovic as the Chief Financial Officer. The Chief Financial Officer would be responsible for finance, accounting, tax, capital management and investor relations. This decision to appoint Voin Todorovic was a decision made by the board of directors. Voin Todovic would now be a part of the problem solving and decision making process for Build-A-Bear Workshop Inc. (Build-A-Bear Workshop Inc., 2014). The Build-A-Bear Workshop Inc. board of directors has recently made two decisions that have made the news. The first issue Build-A-Bear Workshop Inc. board of directors’ problem solved and made a decision on was to partner with Make-A-Wish Foundation. The Make-A-Wish foundation grants a wish to a child diagnosed with a life threatening medical condition (Make-A-Wish, 2015). Build-A-Bear Workshop Inc. has partnered with Make-A-Wish foundation by offering its customers the opportunity to donate to Make-A-Wish Foundation by purchasing a satin heart or by making a monetary donation. The problem in this situation is that Make-A-Wish Foundation requires funds to grant wishes to the terminally ill children. The solution that Build-A-Bear Workshop Inc. came up with was to offer a donation option through their stores. The people…