How Do You Think Good Decision Making Has Contributed to the Success of Nascar?Essay Preview: How Do You Think Good Decision Making Has Contributed to the Success of Nascar?Report this essay1. How do you think good decision making has contributed to the success of NASCAR?Answer: Every business needs a good decision making strategy to hit the success. To raise a company to the success level needs a solid plan and effective decision. Managers need to know certain steps for decision making process. Based on the text there are some criteria to consider while a manager makes a decision for the companys success. Considering NASCARS success, I think that there are must be some good decision making processes going on to get the unlimited success for the NASCAR company. For Example: During the early year the founder of the company Big Bill had a decision to promote their NASCAR car as a sports official with the help of the race track owners. Therefore, NASCAR got promoted and sponsored by the R.J Reynolds Tobacco Company and held the first Winston 500 race in Talladega, Alabama. Afterwards, to increase the product level, NASCAR decided to have some sports channel promoting their car such as ESPN, TNT, and Fox. All these early decisions help NASCAR to raise their product level and hit the success. Despite this success, NASCAR also has a plan of making the sport grow in a way that invigorates hard core fans and make it attractive to people who might want to simple racing. Although making an effective decision needs lots of intonations, I think it should be based on existing success and product.
2. A decision to go after a new market as Brain is doing is a major decision. How could he have used the decision making process to help making this decision?
Answer: I think, Mr. Brain has realized that, though his company hit the high success of sports car market, it really necessary to have a change using this reputation. So he has come up with an additional plan based on the existing product. The idea of making change is to create driver safety requirement. In this way Mr. Brain follows some decision making process. First of all, he identifies the problem, which is the driver safety. Mr. Brain also decides to get in touch with new fans by launching new product and at the same time increase the revenue. After defining the problems, he considers the criteria. These are safety driving, getting new customer and the market diversity. The criteria will give him alternatives. He might pay attention on two alternatives that which will give him a better out come. He should develop the pros and cons for each alternative, than analyses the options by researching information. After he has done all these work, he will know that which would give him a better opportunity of success. However, by implementing the alternatives he would focus on his goal and achieve the success.
3. What criteria do you think would be most important to Brain as he makes decision about the companys future?Answer: Criteria help people to make their decision effectively. Before selecting an alternative, Mr. Brain should really pay attention on all criteria because decision criteria will help him what relevant in a decision. There are different criteria in including in his decision such as developing foreign market, launching a new product but I think, he should consider to develop foreign market because without developing foreign market there would be a lot more risk to launching his new product. Market research will give him the customers interest and their expectation from NASCARs product. So Mr. Brain must use market research to make his decision about the companys future.
4. Would you characterize the conditions surrounding NASCAR as conditions of certainty, risk, and uncertainty? Explain your choice?Answer: I think, while the NASCAR Company making decision they will face the condition of risk. NASCAR wants to make the sports safer, which will create other problem additionally. The customer they already have now may not like the new addition of the car, for example, if they make the car safe for driving, the speed limit might be less than before. The sets and car might be wider than it use to be. Therefore, customers who like danger, speed and fun driving might not like the new addition. On the other hand, the customers, who want simple race and comfortable safe driving might choose the new addition of NASCAR car. By summing up the risking factor I would say that NASCAR should try new product because taking risk is a part of business management. If company would not take
4. What role do you believe can be played by the new program? Answer: It is my job to decide the players and play roles of the teams in an orderly way through a new program. This is especially important in order to develop and integrate the players and get them to the market. If the program does not have such a structure as the previous one, it would not be interesting for the racing team to pursue. Furthermore, the new program will provide more and more competition for the players. It can provide better results, not better results. Therefore, it is my job to choose people who will be the top performers and the best driver, who will be able to play the same role as the others. It is my job to be aware of the needs of the customers and to decide who will be the top driver, who will be the best driver, who will be the best driver. This is why I have set up a special program between the teams to allow the same person to play the role. The customer who want to have fun in it or a simple race, will be able to do both by a different person who also want to take risks that they do not want. It only changes the value of the business and the customers more for the company. If you compare a new car with its predecessors like the Toyota RX and Honda CRM, it may be difficult to differentiate it. However, since the Toyota and Honda teams don’t have such cars, it makes possible for them to achieve different things because the customers love the performance and the safety and driving at all times. What about an advanced electric vehicle capable of moving more efficiently? Answer: I believe that the Tesla Model S and other electric cars in the market will be better in that there can be better performance for the customer. While the Tesla is an electric car, unlike the Toyota, the Tesla doesn’t have to be as heavy. They’re much lighter, and the customers prefer it much. So, the customer has to pay to use electric car even if the costs are less than for a manual to operate. Thus for the future the cars should be able to perform at best. For example, the Toyota will have a much lower fuel and CO2 emissions than the Tesla, and the EV batteries will be much cleaner. The other important point about these cars is that compared to the older cars using batteries and other forms of energy, the newer cars are more energy efficient and fuel efficient. So in general, the customers should use the new cars so as not to give away too much power to the batteries anymore. What about new products available for the consumers? Answer: The next step is to develop new product products that are different or that can be marketed for certain market segments, and then to increase its use. In the future, you must ask customers how to use the new products to make the customer happy, where these products are made and what the customer’s needs are in them to use them. Also, you should give customers the information for using the new products to find out what’s currently available on the platform. The products will tell you about the customers needs: The product needs to be on track for performance and a high-octane, battery-efficient performance. For instance, it needs a high-octane batteries. The battery needs to be safe and have the battery that is made from carbon-fiber (carbon or non-carbon fiber plastic). Furthermore, the product needs to be easy to use, the product should support the car’s operating temperature and to support safety and performance. The product needs to be able to accept new charges and change the battery’s charge level