Decision Making Model

Decision Making Model

Introduction

The paper is written with an aim to describe the Company 1's mission and functional strategies for the operation, finance and marketing department on the quarterly basis. Furthermore, the decision processes are also discussed at the end of the topc.

Discussion

Mission and Broad Strategies for Company 1

The mission statement of the company or an organization indicates the reason of its existence. The mission statement guides, to the internals as well as externals, about the actions of the organization. The overall goal of the company is described in the mission statement. Concisely, the mission statement is the framework that aids in the development of the strategies. The mission statement of the Company 1 is: “To provide the best services and products across the globe whilst maximizing, capturing and retaining shareholders value”

Marketing Strategy

Price

Comoany 1 needs to adopt an appropriate pricing level for their product. The customer should not face any problem in buying the product. The pricing should not be expensive for the customer. Since Company 1 has five different products, they require a separate strategy during costing analysis.

Advertising

The advertising campaign of the product must be prepared in the best possible manner. The advertising should attract the consumer towards the product. The consideration word in the strategy refers to the price. The information and the awareness programs and plans are almost on the competitive levels.Company 1 needs to be at the maximum level of efficiency for generating good results in the operations.

Salary, Commission & Dividends

The employees must be paid the appropriate salary in order to have satisfaction. The criteria for the commission and dividends must also be set in the best possible manner. Company 1 needs to pay good salaries to their employees in order to keep them motivated in the work.

Financial Strategy ...