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Reflection Memo.edited 2

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April 2020

TO:

FROM: Student’s Name

SUBJECT: Reflection Memo

Introduction

Decision making is one of the critical roles of all the executives in any organization or company. It is the

process in which one identifies and chooses alternatives depending on his/her values, beliefs, and

preferences. Following the right procedure to make decisions makes a decision-maker discover more

thoughtful and deliberate choices relevant to the aims of an organization. Most effective decisions are

made by a team, which in most cases, is the board of directors elected in a company. Such a team works

together to deliver the best decisions which will enable the company to meet its goals, mainly the profit-

maximization goal and to better the relationship between staff as well as the public. In this assignment, I

am focusing on reflecting different decisions made in each of Production, Marketing, Finance, and R&D.

I will discuss the description, rationale, and effect in each Decision made in each of Production,

Marketing, Finance, and R&D.

R & D

Description of R&D Decision

In our Decision concerning the R&D, in the high-end segment, the performance and size were 9.3, 11.0,

respectively. At the end of round six, we changed to 13.0, 7.1

The rationale for R&D Decision

As we were approaching our fourth round, we had the ending stock of our performance product with our

income statements having a negative figure in the net profit. This meant that we were losing a lot of

money because we were incurring a lot of expense in performance product during the production period.

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This resulted in a negative sales volume. As we approached the sixth round by reducing the size of our

product by 35.5%, we were able to discover a rise in our performance by 39.8%, giving us at the high end

a segment of performance and size as 13.0, 7.1. Since the majority of our customers need a high-quality

product and not quantity, we decided to offer a better product which would be competitive in the market.

Effects of R&D Decision

By coming up with this Decision, it brought some positive impact as we sold more in the performance

segment. At around 6, after reducing the size segment, our performance segment increased from 9.3-13.0

based on the income report. As a result, we discovered that more attention was needed in producing

quality products, as well as finding the leading cause of problems to provide the right solutions.

Generally, we are making vast and friendly profits. However, money is going to get lost in one segment if

we fail to provide solutions to the available problems.

Marketing

Description of Marketing Decision

We changed the price of the low-end segment from $19.99 to $15.99. This was the Decision that we came

up believing it has an impact on our marketing strategy to increase the volume of sales.

Rationale for Decision

We aimed to collect a maximum profit at the future rounds. Before our Decision, we had previously

discovered that our budget was very tight. We figured out the volume we will be able to sell if we reduce

our price by 20%. With the small impact brought about by price, it seemed like a good idea to increase the

profit. With our goal to maximize profit, we decided to take less risk and lower the cost to $15.99

focusing on achieving our target selling volume based on some previous demand in relation to the growth

rate

Effects of Marketing

On discovering the prices were lower than before, our esteemed customers bought our products in large

volumes, which saw us record a good number of sales volumes in the sixth round, which lead to our

$100m profit goal. This also enabled us to win the heart of many customers allowing us to increase the

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26th April 2020 TO: FROM: Student’s Name SUBJECT: Reflection Memo Introduction Decision making is one of the critical roles of all the executives in any organization or company. It is the process in which one identifies and chooses alternatives depending on his/her values, beliefs, and preferences. Following the right procedure to make decisions makes a decision-maker discover more thoughtful and deliberate choices relevant to the aims of an organization. Most effective decisions are made by a team, which in most cases, is the board of directors elected in a company. Such a team works together to deliver the best decisions which will enable the company to meet its goals, mainly the profitmaximization goal and to better the relationship between staff as well as the public. In this assignment, I am focusing on reflecting different decisions made in each of Production, Marketing, Finance, and R&D. I will discuss the description, rationale, and effect in each Decision made in each of Production, Marketing, Finance, and R&D. R&D Description of R&D Decision In our Decision concerning the R&D, in the high-end segment, the performance and size were 9.3, 11.0, respectively. At the end of ...
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Tags: decision making business decisions marketing decision production period performance segment