Analyzing the Decision Making Process

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Analysis of Decision Making Introduction The purpose of this report is to fully analyze some poor decisions I made in opening a shop in a area where there was too much competition for what I was offering in a retail setting. Again, the errors I made were in the decision-making process, and in this report I will expound upon the theories regarding decision-making. In 2011 I made a decision to open a temporary jewelry shop in the Westfield Shopping Center in Kotara. What gave me the idea to open this store? I wear beautiful and unique jewelry and many women commented on how good the jewelry looked on me. It seemed everywhere I went women were wanting to know more about my jewelry, and so it seemed reasonable and rational to open up a shop where I could sell these beautiful jewelry pieces. I made the decision based on the above-mentioned rationale and I secured the facility I needed for this investment. However, a new Charlestown Square Shopping Center re-opened near Kotara prior to me getting my business open. There were many customers that might have shopped in my store and other stories in the Westfield Shopping Center but instead they shopped at the Charlestown Square Shopping Center, just opened. Notwithstanding that problem, I decided to open my shop anyway because I believed that the customers that were all rushing to the new shops (including many jewelry shops with gorgeous jewelry that were priced very fairly) in the Charlestown were going there because it was a
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