The term judgment refers to the cognitive aspect of the decision-making process (Bazerman and Moore 2009). any decision making process produces a final choice. My chassis is Fuad Yusifov. I and my partner own a fish storehouse Aqua salon Oceania. Aqua salon Oceania functions as a wholesaler and retail seller. We sell aquariums, tropical fishes, decorations of the aquariums and accessories of the aquariums.
The problem
Recently we face a problem regarding our business. Our competitor Aqua Nemo started reducing prices which unexpended us without choice, and we started to lose our clients.
The Criteria
The criteria we faced while deciding how to turn back up with our competitor were: stability in the mart, increase of improvement and development of business. We weighted these factors like this:
1. Stability in the market 0.5
2. Increase of profit 0.25
3. Development of business 0.25
Alternatives
Relying on these factors we came with 3 alternatives.
1. An offer to buy our business out for cheaper price
2. Sign a contract with a fish farm and for 250000$ a year
3. take aim a franchise of our business and get investment from external resource
We rated each of the alternatives on a scale 1 to cardinal where 5 is our expedient choice and 1 is our not advantageous choice.
CriteriaStability in the market| weightiness| Rating| Weighted stigmatize|
Alternative 1| 0.5| 2| 1|
Alternative 2| 0.5| 3| 1.5|
Alternative 3| 0.5| 5| 2.5|
CriteriaIncrease of profit| Weight| Rating| Weighted stool|
Alternative 1| 0.25| 1| 0.25|
Alternative 2| 0.25| 3| 0.75|
Alternative 3| 0.25| 4| 1|
CriteriaDevelopment of business| Weight| Rating| Weighted score|
Alternative 1| 0.25| 2| 0.5|
Alternative 2| 0.25| 3| 0.75|
Alternative 3| 0.25| 4| 1|
Criteria overall
Alternative 11.75
Alternative 23.0
Alternative 34.5
Optimal decision
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