Usa World Bank Problem Solution
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Category: Business
Autor: reviewessays 04 July 2011
Words: 3570 | Pages: 15
Problem Solution: USA World Bank
Lisa
Managerial Decision Making
MBA 510
Problem Solution: USA World Bank
In today’s evolving business and economic environment, vast amounts of statistical information are just a push of a button away on a computer. The most successful managers and decision makers understand the information and use it effectively. Large companies typically collect volumes of data before designing a new products, USA World Bank (UWB) is no different. USA World Bank is a vital source of financial and technical assistance to developing countries around the world. As a major bank that operates in the United States and internationally USA World Bank use statistical information to gain information on the development of new products and services. With successful ventures worldwide UWB feels the need to develop profitable new products that will continue to expand its market share beyond their large consumer and small business base. This paper will focus on the USA World Bank ability to develop new products that will continue to expand its market share while focusing on the research and statistical data.
Situation Analysis
Issue and Opportunity Identification
Organizations are faced with many issues and opportunities in today’s business environment. USA World Bank is often faced with the same issues and opportunities; it is the manager’s ability to handle these issues and opportunities that determine the success of the organization. USA World Bank strategy is to increase profitability and increase market share. They are faced with the question such as is there sufficient demand to increase profitability and increase market share. The managers of UWB have identified some issues and opportunities that would allow them the opportunity to achieve the organizations strategic goal of increased profitability ability and increase market share. The following issues and opportunities have been identified: USA World Bank marketing team need to conduct a market research to develop and launch a product that will have a significant impact on earnings, they have had winning products in the past but not recently. This issue would give them the opportunity to successfully sample and market new products that would increase revenue and improve customer service. Sampling is a portion or part of the population of interest (Lind, 2004). The reason organizations sample is to save time, lower cost, impossible to check all items in large populations, the destruction nature of some tests, and the sample results are adequate (Lind, 2004). When introducing new products it is essential to use samples to study entire populations. There are several methods for selecting a sample such as simple random sampling, systematic random sampling and stratified random sampling just to name a few. Another issue that USA World Bank is facing is Mary Monroe ability to assess the research from firms that she hires to conduct the organizations research. Based on this information decisions are made to present board members with new products to market. Based on this issue USA World Bank would have the opportunity to make informed decisions based on the reliability and validity of the critical information received when managers have a through understanding of data. Manager can profit from having research skills, there options are limited if they do not have assistance to accomplish this, For example if high executives need information this would be the lower level management opportunity to boost their career in that organization (Cooper, 2003). More issues and opportunities for USA World Bank have been identified at table 1 below.
Stakeholder Perspectives/Ethical Dilemmas
The stakeholders that would be involved in the USA World Bank would be the UWB senior management team there interest in the organizations is to increase market share and profitability that reserve the rights to strategic planning of the organization while incorporating organizational values such as team building, employee and customer loyalty; the employees of UWB interest include employee recognition and rewards, the right to fair and equal treatment including wages, benefits and work environment while incorporating values to enhance career opportunities, equal rights and compensation; stockholders interest in the UWB is profit, right to cast vote on corporate issues and values to effective and efficient productivity; and customers interest in values service and products, rights to expected time customer service and valued quality service.
Problem Statement
USA World Bank will increase sales through the expansion into new markets and the development of new products and services based on samples that are representative of target market.
End-State Vision
USA World Bank will introduce a new product annually for customers and small business’ that will increase market share and profits through a market research method using a sample of demographics based on marital status, gender, age, and household income.
Alternative Solutions
Many organizations are faced with issued in accomplishing organizations goals and USA World Bank is not immune to this problem. Conducting business reach can be an added value to managers within the organization. Business research is the systematic, controlled, empirical, and critical investigation of phenomena of interest to managerial decision makers’ (Davis, et al). In the Scenario Mary Monroe, Vice President of New Product Development has a weakness of not being thorough in her assessment of the research from firms that she hires and also Brian Allen, President of New Product Development do not understand thoroughly the entire methodology that was presented by the Best Market Research team. The managers of UWB will need to understand how to identify quality information and to recognize the solid, reliable research on which high-risk decisions as a manager can be based (Cooper, 2003). Managers must have the ability to recognize good research that generates dependable data that can be used productively to produce effective products while decreasing the risk of managerial decision-making. According to Cooper there are nine criteria that provide an excellent summary of what is desirable in decision-oriented