Chapter 6 January 16, 2009
Posted by bmolloy34 in Uncategorized.trackback
For my post I did chapter 6. Chapter 6 is about decision making. Starting a business and keeping it going has a lot to do with the decisions you make. My group decided to pick a woman named Yawavi Ameko. She is a widow of four children and owns a salon in a small western country of Togo. She has had this salon for 20 years and this is how she makes her living for her family. Yawavi needs a loan because she needs to purchase extensions and hair weaves.
Chapter 6 talks about making decisions. As a business owner there are a lot of decisions to make to keep your business going successfully. Yawavi identified her problem that she needed to purchase more extensions and hair weaves so she asked for this loan. Then she had to identify decision criteria. If she took this loan, yes she would have to pay it back but if she gets the money right now she can buy new extensions and hair weaves to bring in more business. Another decision Yawavi had to make was how many extension and hair weaves should she get or should she just use what she has and not get a loan to purchase more. She made up her mind and made her alternative solution, to get this loan and purchase the extensions and hair weaves. Then she implemented the alternative when she asked for the loan. She has to evaluate if her decision of getting this loan to purchase these supplies benefited her business or not.
Yawavi is going to have to keep taking risks like she did by taking this loan out for the extensions and the hair weaves .That’s part of being a business owner. Also she is going to have to keep a policy on the decisions she makes so she can keep her business going for another 20 years.
I also chose Chapter 6 for my recipient, and I really like how you implemented the decision making process, which is key for business owners. As with any other business, your recipient also had to decide what would work best with her business. She made some intuitive decision making, which included whether or not to even get the loan, since there is a big possibility that it may not even be profitable. Since the community is so fond of her and her work, hopefully when she analyzes her decision to get a loan, she will find that it was successful, and also a good decision. Having a salon in such a poor community is definitely risky, but as you stated before, owning a business may involve taking risks.
What I really liked about this post is you related the decision-making process to your recipient and how she should use it. I think this is the most important process in management. It was very detailed and helpful. Another thing you could have added in there is the problems she might face. For an example, the structured and the unstructured problems. Along with those problems there decisions that are called programed and the nonprogrammed. Other than that you did a good job!
The decision making process is the basis of every organization, no matter what it is based on. Your reciepient faces decisions every day, from the time she opens her salon to the last extension she puts in.
This is a wonderful post. The decision making is important in any business today therefore I agree with your points that you have given in your post. Everybody has to make decision everyday from the moment the wake up till the go to bed at night. Your recipient has made some crucial decisions and I wish her all the best so she can run her business for many more years to come.
I also decided to do Chapter 6, and I really liked what you had to say. The decision making process is one of the most important parts of management and the decisions a manager makes could either make or break them sometimes. Your person seems very goal-oriented and very smart and I think that her decision making skills are on point. She is doing a great thing with her business and asking for outside help through the Kiva organization was a great decision so that she can save the business she, as well as others love.
In being a business owner many decisions arise to be made. As you have stated, she weighed her alternatives to deal with the problem at hand and made her decision. Every organization is faced with problems and has to analyze all alternatives and decision making criteria before desiding on an alternative. In Yawavi’s case, I just hope her decisions can be profitable.