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What is the decision making process

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Question - Describe how you would handle the decision making process in the following scenario: You and a close family member have decided to open your own retail clothing store. You have equal investment risk, but different skill sets that bring a well-rounded approach to the overall business strategy. Critical business decisions must be made and as with any business there are times when partners do not agree. Write a paper describing the business decision making process and how conflicts would be resolved for launching a controversial line of clothes. Your paper should include the following:

  • What is the decision making process normally used by you and family member?
  • Is there one person responsible for the new line of clothes or accessories due to their experience and skill set, or are decisions mutually agreed upon?
  • Describe how the conflict would be resolved with you wanting to launch the clothing line, while your business partner does not.
  • How would the decision-making process help resolve this conflict?

Consider the special challenge of working to make a company decision with family involvement.

Reference no: EM131566578

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