2017 case Study Answers

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Transcript

First, I would like to apologize for not providing you with all the information you need to reach the perfect decision. The purpose of the case study is not to find the ultimate solution, but to provide you with feedback to what extent you have already developed your multi lens skill. What do I mean by multi lens skill? different lenses will lead to different answers. Financial lens will follow the line, that money has its cost. It could be the interest rate we pay to the bank for the loan taken.

Therefore, the faster we sell the goods on free the working capital, the better. The financial director will recommend decision one lower Price. The marketing and sales director would face a dilemma. If salesman reduced the price officially, which means in the price list during the next quarter, they will kill the competition. But what will salesman tell the customers afterwards, when they will have to significantly increase the price. There will be turbulence that might result even in losing several customers.

From other perspective, the lower delivery rate could be used secretly in special rebates for attacking competitors clients, or stimulating our key accounts to buy much larger volumes. The corporate strategy lens should prevail over the previous two if the price dropped, too GE has the goal leader in quality, we cannot reduce the price. Same goals if the goal is maximizing profits. However, on top of all previous is the concrete business situation. Imagine that our warehouse is full until you're forced to use much more expensive outsourced services that will eat our profits from that super deal. If we use them for seven months.

In such scenario, the decision is lower price, sell the goods in three months. The second goal of the case study was to illustrate how the best decision various depending on the lenses we use. Clever but unexperienced people find it easy To choose a decision and stick with it without reflecting all possible options. However, you may know that we have to investigate the possible solutions effects on different business areas, both in the short term and in the long run. I recommend you when taking decision of that kind to use as medium the four lenses, the financial lens, marketing consoles, the corporate structure, strategy, lens, and concrete business situation. The multiline skill I was talking about in the beginning of this slide is closely connected to diagnostic thinking.

They're not thinking is different from analytical thinking. The latter is when you apply logic to find a solution in an orderly and systematic way. For example, analytical thinking is what hardware repair specialists do to locate the problem within your computer. They systematically check one element at a time until they find the problem. In contrast, the diagnostic element thinking is the sort of skill that you use when you leave to accurate conclusions without having complete information. Basically, diagnostic thinking boils down to your ability to fill in the gaps of information in order to have accurate conclusions without having all of the facts available.

For instance, diagnostic thinking is when an emergency room doctor uses To identify the actual causes underlying a cluster of apparently unrelated symptoms. Unlike the hardware specialists, the doctor simply does not have the luxury of taking a pure, analytical approach. She does not have the time and the option to switch off different organs one by one. The doctor must quickly diagnose the problem in the face of incomplete and imperfect information, using her diagnostic thinking skills. The diagnosis must be right the first time as they're rarely second chances in marketing or management fields, analytical thinking matters. But what makes the difference between effective leaders and ordinary managers Yours is diagnostic thinking.

Develop that skill. Nothing can stop your career growth.

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