Decision Making and Problem Solving

Running head: DECISION MAKING AND PROBLEM SOLVING
Decision Making and Problem Solving
Name of the student:
Name of the university:
Author note:

DECISION MAKING AND PROBLEM SOLVING1
Step 1: Defining and Clarifying the Question.
Talal is a person who is very interested in bodybuilding. He had a very happy and prosperous
family that has been running its successful business in the past few years. However, he too
had a clear vision that establishing a business or getting a job is necessary, as bodybuilding
will not be helpful for a long race. His father is running a small business of jewellery, mother
is running a beauty salon and brother had a rental service. However, he wanted to establish a
business of his own rather having a job. He is quite confused what business must be taken up
by him in order to develop his career. He is also confused about the finance that he wanted.
He is confused from whom to ask for a loan; from his father or mother. He is also confused
about which business to start a traditional or an e-commerce business.
Step 2: Develop mind mapping for the alternative.
Fig 1: Mind mapping
(Source: Created by the researcher)
Decision making
for Talal’s business
Financial help
What business?Kind of business
Fath
er Bank Fath
er Brother
E-
commerce Traditional
business
Accessories or
products
related to
bodybuilding
Join whose business

DECISION MAKING AND PROBLEM SOLVING2
Step 3: Generating Alternatives.
Talal’s decision making for his career is a difficult aspect however, he must also analyse and
take initiatives that will help in the development of the career which he wants to establish. As
he has decided to establish a business rather than taking up job, he must also find alternatives
while establishing his business as it will be a risk management plan (Martin, Donohoe &
Holdford, 2016). He has decided to establish a business based on instruments that are related
to bodybuilding as he has efficient knowledge as well as network that will help in developing
the business within a very limited time. The mind map will not only help him to make a
decision but also provides him with alternatives. He can take loan from bank instead of his
father as in case of any financial issues that are being faced by him during the period he has
the alternative to take help from his father. Establishing a traditional business will help in
attracting a large number of local customers as well as with the alternative business of e-
commerce he can reach out for many other people (Woods & Osborne, 2016). Hence, this
will act as alternatives for him to establish a successful business. He can also ask his brother
or father to be a partner in his business that will reduce the number of risks in the business.
Step 4: Variables to consider.
The variables are the factors that will have an impact in the business that will be established
by him. He has decided to establish a business rather that working with his father or brother
and in spite of taking financial help from his father he wants to take loan from bank. The
market in which he will be establishing the business is a great factor (Saitis & Saiti, 2018).
For instance, with a large number of customer there will be great sales in his product whereas
with high competition in the market and less number of customers will also have an impact in
the business. Finance is an important variable that will help in rising the business. Suppliers