This paper concentrates on the primary theme of I need to identify the decision concepts (theories, principles, heuristic, traps, etc) and explain why they occurred and give recommendations of what could have been done differently. So far I identified in part this falls into the in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 79. For more details and full access to the paper, please refer to the site.
Judgemental error and a company`s decision-making strategies
I am doing a presentation on what went wrong with this company`s decision here is the scenario.
With childhood obesity, a high concern 3 years ago, high competition, a large debt, and carb-consciousness, senior management at Interstate Bakeries made critical decision errors in order to reverse the annual losses they were reporting. This caused the well-known Twinkies and Wonder Bread brands to be lost to the public, as the company was forced to file for bankruptcy protection.
They changed their recipe to try to make their products have a longer Shelf life which caused the Wonder Bread to be gummy and collapse. They also cut down on Deliveries which kept store shelves bare and untidy.
I need to identify the decision concepts (theories, principles, heuristic, traps, etc) and explain why they occurred and give recommendations of what could have been done differently.
So far I identified in part this falls into the "Investment Trap" but what else am I failing to identify?