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Decision-making

The first step is to clearly state the question, define the problem. This requires careful analytical thinking. Assume for a moment that four different manufacturers want to produce shirts using the Manchester United logo, players, etc; the real problem is not, which of the four to choose, but how to maximize revenues from this particular element of team merchandising. License all four or select one as the exclusive provider. An exclusive royalty contract will produce a higher royalty rate, but is this enough higher to offset the volume four licensees could produce at a somewhat lower rate?

There is a large body of thought on decision-making generally referred to as decision theory. Sven Ove Hansson of the Royal Institute of Technology in Stockholm Sweden wrote an excellent non-technical and almost non-mathematical treatise, “Decision Theory A Brief Introduction” Dr. Hansson maintains, “ Almost everything that a human being does involves decisions.

Therefore, to theorize about decisions is almost the same as to theorize about human activities. However, decision theory is not quite as all embracing as that. It focuses on only some aspects of human activity. In particular, it focuses on how we use our freedom.” (Hansson, 1994)

A large amount of academic time and effort are devoted to the systemic making and organizing of decisions and the development of tools, in the case of management, quantitative tools, to assist managers in this endeavor. There is extensive discussion of normative and descriptive decision theories; how decisions should be (normative) and actually are (descriptive) made. A good executive understands and uses decision theory and any other tools available to make good decisions. (Hansson, 1994)

Process planning

What the CEO has really done is tell the merchandise manager to plan the production and marketing of shirts bearing the teams logo and possibly player names. The MM now has the problem of getting all the right people involved and in the correct order. In fact, he has two planning processes to develop, the first is to gather information on the entire problem and then plan the implementation of the decisions he makes. His first project is to organize himself. What are the elements of the problem and who in the organization can help him solve them. There are a couple of basic questions to which he needs answers in order to make a good decision.

Who would be willing to work on a non-exclusive basis? Obviously, all would like to be the exclusive producer.

What royalty would each is willing to pay for an exclusive and a non-exclusive lic本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。