Business & Finance Homework Help

Review the requirements located in the Brainstorming Discussions Module. 

MDQ STEP TWO: FRAMING THE DECISION

This week’s purpose is to discuss step two of the MDQ model, define the three components to HH’s decision framework, and narrow down four objectives.

There are three components to a decision frame in the MDQ model: 

• PURPOSE – what does Harry Hannah hope to accomplish by making the decision;
• SCOPE – what to include and exclude in the decision; and
• PERSPECTIVE – Harry Hannah’s point of view about the decision, the ways he wants to approach, or others may approach making the decision. Framing is like the zoom feature of the camera. What we include in the picture is the scope of the decision, the angle for the best lighting and view is the perspective and what kind of picture we want, an action or landscape shot, is the purpose.

Directions: 

NOTE:

Please restrict your presentation to the following:

MDQ STEP TWO: FRAMING THE DECISION

1. In your capacity as Harry Hannah, you will be making the final decision. 

2. Therefore, do not make suggestions or recommendations until the final stage of the process.

3. Similarly, do not consider the alternatives, consequences or risks associated with the objectives until the subsequent stages of the decision-making process.

1. By FRIDAY, complete the following:                                                                                                                  

• Use the following Decision Statement (Step One): How can HH increase sales growth?
• Explain what “Framing the Decision” means in terms of the three components. You do this by addressing, discussing and supporting each of the terms – purpose, scope, and perspective (MDQ model). Discuss the biases and traps that must be avoided in Framing the Decision.
• Explain the meaning and purpose in using objectives in the MDQ model. Discuss the specific biases and traps that must be avoided.
• Identify the best four objectives from the list provided.
• Explain why these objectives are the best for Hannah’s hats and Harry Hannah as the decision maker to help frame the decision process. Be sure to explain specifically what constitutes a sound objective and why it is important to making the decision.

Identify the best four objectives from the list provided.

Explain why these objectives are the best for Hannah’s Hats and Harry Hannah as the decision maker to help frame the decision. Be sure to explain specifically what constitutes a sound objective and why it is important to making the decision. 

• The objectives are:
  • The best way(s) HH can increase sales.
  • The best way(s) HH can decrease expenses
  • The best way(s) HH can develop a sustainable growth strategy
  • The best way(s) HH can enhance its competitiveness and capture new opportunities
  • The best way(s) to deal with potential threats and competitive pressures to HH’s market.
  • The best way(s) to keep abreast with changing market trends and consumer preferences.
  • The best way(s) to develop customer relationships while increasing growth.
  • The best way(s) to maintain a strong staff engagement.
  • The best way(s) to develop HH’s core capabilities and fulfill its strategic objectives.

Please use the following references:

https://www.decisioneducation.org/its-your-choice-episode-6

https://www.decisioneducation.org/its-your-choice-episode-7

https://www.decisioneducation.org/its-your-choice-episode-8

https://www.decisioneducation.org/its-your-choice-episode-9

https://www.decisioneducation.org/its-your-choice-episode-10