Decision Making Business Success

Question: Discuss about theDecision Making for Business Success. Answer: Introduction Business success usually depends on the commendable efforts provided by the managers. According to Varley (2014), the efficient manager needs to undertake the justified decision that will be helpful enough in accomplishing the pre-determined organisational goals. Similarly, the management issues can bring the significant challenges to its welfare. The selection of the set of priorities is essential for strengthening the competitive position of a company (Roig-Tierno et al. 2013). The study will be highlighting the discussion based on the management issues in Woolworths. The structured design will be helpful in identifying and conducting the research in a significant way. Identification of the Problem Woolworths is known as the biggest supermarket chain in Australia. The retail chain is much renowned for the retail product and service at lower rate. However, in this current time, the marketing strategies undertaken by the company is highly criticised. The abrupt departure of Tony Phillips, it has been seen that many of the chief executives left the company (News.com.au 2015). The industry observers have considered such crisis as the symptomatic of a business, which is unable to find a solution against the downfall of the sales ratio. The major problem faced by the company was in the lower ratio of the sales figure in a month. In the third quarter of the last financial year, it was observed that the company increased the sales of liquor and food was just 0.2%. Concentrating on the June market update, it was found that the sales ratio was much slower and almost 0.7% (Businessnews.com.au 2015). The most prominent decision making issue was found when Tony Philips was removed from his position. This decision affected the entire market place and the company face the severe loss. In fact, the promotional activities undertaken by the company could not achieve the expected success (Zarkada-Fraser and Fraser 2015). Research Questions How the decision making process creates impact on the organisational success? What are the major management problems Woolworths has been facing in recent times? How the proper decision making process can facilitate the accomplishment of the organisational goals? Research Program Figure 1: Research Program (Source: Created by Author) Topic Selection: At the initial stage of the research, it is required to select a particular topic that can describe the underlying subject matter. Problem Identification: After selecting the topic of discussion, the next stage is to recognise the major issues related to the topic. The section will also describe the issue faced by the organisation due to the identified problem. Literature Review: The literature study will be focusing on the theoretical analysis of the decision making problems associated with the corporate setting. Methodology: The structured and sequential process of the research study will be analysed in this methodology part. Primary and Secondary Analysis: The gathered data from both the primary and secondary sources will be interpreted and analysed in this section. Expected Outcome: The obtained ideas from the gathered information will be establishing the expected outcomes. Research Process The research is based on the identification of the recognisable management issues foreseen in Woolworths. While conducting the research study, it is necessary to understand the conceptual ideas about the subject matter. The information gathered from the secondary resources will be helpful enough in determining the theoretical perspectives of decision making process. It will initiate the idea about the underlying issues that the organisations usually face while undertaking any decision. The journal article, media publish, books, and website information will be associated for completing the secondary analysis. Depending on the information received from the secondary sources, the further primary research will be conducted. The primary data will be collected through the quantitative and qualitative process. Findings The findings derived from the gathered information is indicating that the decision making process involves fewer steps, which are needed to be addressed. In case of the Woolworths, it is noticed that the major problem faced by the management is due to the irrelevant decision making process (Nettle 2014). The removal of Tony Philips degraded the performance of the company (Jones 2015). The company faced the enormous loss in the investment returns. Therefore, it can be predicted that the inefficient management practices is the major reason behind such loss. It is required to undertake the proper strategy and engage the skilled management official (Methner, Hamann and Nilsson 2015). Recognising such findings, the preferable recommendation will be provided in the further section. Recommendation The problems found in the internal management process of Woolworths is the irrelevant decision making process. Therefore, it is required to identify the appropriate alternatives to minimise the associated risks. The management firstly needs to appoint an efficient leader who has a long period of experience in operation management process. The proper leadership attributes would thus be helpful enough in undertaking the relevant decision for the organisation. Maintenance of the communicational transparency can be other recommended alternatives to mitigate the recognised issue. The management needs to pay attention towards the two-way communication process. If the associated employees can address their concerns to the management, it will be effective for the organisation. In fact, maintaining the proper communicational skills would be helpful enough in motivating the employees by resolving situational conflicts. Conclusion The study is focusing on the management problem faced by Woolworths. It was seen that the majority problems faced by Woolworths were due to the irrelevant decision making process. In fact, it is seen that the management failed to undertake the proper strategic decision after the removal of Tony Philips. Moreover, it is also noted that the company faced huge loss in the investment returns, which degraded the financial performance of the company. The applied methodology was fruitful for gathering the primary and the secondary data. Recognising the findings, it can be inferred that the management needs to associate an efficient expert for taking the organisational decision. On the other hand, maintaining the communicational transparency will also be beneficial for the company to accomplish the pre-determined goals. References Businessnews.com.au, 2015. Management mistakes cost Woolworths. [online] Business News. Available at: https://www.businessnews.com.au/article/Management-mistakes-cost-Woolworths [Accessed 18 Sep. 2016]. Jones, S. 2015. Woolworths: Where did it go wrong?. Mumbrella Editorial. Methner, N., Hamann, R. and Nilsson, W., 2015. The Evolution of a Sustainability Leader: The Development of Strategic and Boundary Spanning Organizational Innovation Capabilities in Woolworths. InThe Business of Social and Environmental Innovation(pp. 87-104). Springer International Publishing. Nettle, D.J., 2014. Issues of management identity: attitudes to management within the Australian Institute of Management, 194073.Business History,56(2), pp.287-313. News.com.au, 2015. The real problem for Woolworths. [online] NewsComAu. Available at: https://www.news.com.au/finance/business/retail/the-real-problem-for-woolworths/news-story/5ac2de91e1819c883bb5efac3ba6f10f [Accessed 18 Sep. 2016]. Roig-Tierno, N., Baviera-Puig, A., Buitrago-Vera, J. and Mas-Verdu, F., 2013. The retail site location decision process using GIS and the analytical hierarchy process.Applied Geography,40, pp.191-198. Varley, R., 2014.Retail product management: buying and merchandising. Routledge. Zarkada-Fraser, A. and Fraser, C., 2015. Integrating social and economic orientated marketing: A study of retail management. InProceedings of the 2000 Academy of Marketing Science (AMS) Annual Conference(pp. 219-223). Springer International Publishing.