Nascar Case Study

Managers within organizations are faced with the challenges daily of making excellent decisions. In everyday life we are challenged in making sound decision, decision that will last for a life time. Folk often wonder after making a decision if it was the right choice, will it affect the people around me, was this a good choice for my family, and will the decision affect them. In order to be an effective manager you have to possess the skill of outstanding decision making skills. In order for one to be successful within their personal life they may also need to possess an understanding of effective decision making. The decision- making process should be one that makes a positive change. Can the decision making process work

Decision-making in the workforce is a process of responsibilities used by upper management to implement, enforce rules, regulations, and maintain a successful environment. Decision-making implemented more effectively by making a plan, thinking it through, accepting more than one opinion and determining what is best. However, decision-making often utilized more effectively by opening doors of opportunities for a suggestion, question, discussion, and feedback. Although, more involvement helps improve understanding, utilize behavior skills and present opportunities for better communication. Everyday life consists of decision-making, the right decision may not always be applied, but ensure room for improvement and opportunity. Individuals approached decision-making in many different ways. As stated by (Jones, Graham, & Bateman, 2006) decision making is a procedure used to recognize a problem, weigh the alternatives and evaluate a solution in which, certain situations will require different approaches to become effective.

Another success is their ability to differentiate themselves from the competition. NASCAR partners with Hollywood to strategically place their

"A 1999 survey of sports sponsors by Street & Smith's Sports Business Journal ranked NASCAR No. 1 in licensing, promotional opportunities, retail tie-ins, client endorsements and media coverage--ahead of the NFL, NBA and Professional Golf Association" (Advertising Age, Sc 1).

NASCAR should have been meeting sponsors from other countries in addition to racing in other nations while the economy was in a downward spin in the United States. Sponsorship is the blood of NASCAR racing (Pruitt, Cornwell, & Clark, 2004). Sponsorship accounts for 50% of NASCARS revenue. With the stakes being high NASCAR might want to diversify its drivers to generate other ethic fans. NASCAR has been criticized for mostly having white Caucasian men on their payroll. The large majority of its sponsors are American companies such as FedEx or Gillette. Other marketing promoters have not being proceived from other countries. Not to mention the France family should allow more

Such criteria may include: profit; cost; return on investment (ROI); market share; capacity; risk; and / or, cash flow, to name a few. Qualitative criteria may include: competitive advantage; customer satisfaction; employee morale; corporate image; ease of implementation; synergy; ethics; safety; and / or goodwill, to name a few. There may be other criteria that the Learner / group have determined are essential to the decision making process. Ensure that the criteria chosen are clearly articulated and described.

When Jack Roush decides to have one less race team on the track, he does so not because he doesn’t like the team that is racing, but because fielding a race team is expensive. Mr. Roush has a lot of money, but he is limited to the number of teams he can put on the track. Race fans make choices too. We

NASCAR, or Stock Car Racing, as the sport is formally named, is undoubtedly a sport in which athletes compete. This is a simple process of identifying NASCAR as a sport. Firstly, a sport is defined as, by one source, "an activity that is governed by a set of rules or customs and often engaged in competitively." I see this as quite a broad definition, so I will narrow it down to three points that are conventionally agreed upon as defining a sport. 1 – Competition (individual or team). 2 – Skill or physical training required to succeed. 3 - A combination of at least 3 athletic qualities. Stock car racing ticks all of these boxes, with the athletic qualities being stamina, hand-eye co-ordination, and quickness (in the form of reflexes). To elaborate, these skills are obviously required when for 3 hours, there is a

1. What types of decisions must Chad Thomas make daily for his company’s operations to run effectively? Over the long run?

NASCAR is successful and has remained successful over its span of years due to effective branding and marketing strategies. In order to brand the NASCAR name they work on co-branding/partnering, television, differentiation, and loyalty. When corporate sponsors want to maximize their exposure, they often focus sponsorship dollars on events, teams and athletes that will prove to be reliable, respectable and, most important, repetitive advertising outlets. (Depken, Groothuis, & Rotthoff, 2014.)

As stated by Prasad (2008), the managers should identify the different choices available in order to get most acceptable outcome of a decision. From searching different alternatives the managers can evade blocks in operations as choices are suitable if a particular idea goes wrong. Khanka (2000) expresses the view that selections can developed from in many ways such as can get from sources like experience, do training other organizations, and take others ideas and suggestions related in problems. Furthermore to improve alternatives solution the managers may investigation the signs of a problem for clues or fall back on intuition or result that stated by Griffin and Moorhead (2010). For an example in marketing department a non-programmed decision is compulsory the manager have to produce alternatives for raise market share. As McShane and Von Glinow (2000) pointed out that in a programmed decision is a standard operations is not to generate choice but can take out from the documented that already saved. Next an organizer should search the mission of a decision. In other words they need to define what is to be accomplished by it (Quick & Nelson, 2013). The decision criteria are important as mentioned by Dubrin (2002). The several criteria are consumers must aware of varies in quality of products, there not happen inflation, workers must consider the quality of improvements and lastly job satisfaction should not be reduce.

Thinking critically and making decisions are important parts of today’s business environment. It is important to understand how the decision making process works and the steps involved. The nine steps of the decision making process are: identifying the problem, defining criteria, setting goals and objectives, evaluating the effect of the problem, identifying the causes of the problem, framing alternatives, evaluating impacts of the alternatives, making the decision, implementing the decision, and measuring the impacts. (Decision, 2007.) By using various methods and tools to assist in making important business decisions an individual can ensure the decisions they make will be as successful as possible. In this paper it

A study published in the winter 1997 volume of Business Strategy Review suggests the major factor in a decisions success is the decision process itself. The study, by Paul Nutt, suggests that poor decision making

When people argue with decision analysis and its achievements they usually mention the story of DuPont, an American chemical company. It managed to successfully integrate risk and decision analysis functions to both operational and strategic levels. The company claimed that Desciison and Risk Analysis not only brought tangible benefits to the company, but also intangible, such as increased attention and commitment to actions (Krumm et Roll, 1992).

Once a decision maker has defined the problem, he or she needs to identify the decision criteria that will be important in solving the problem. In this step, the decision maker is determining what’s relevant in making the decision. This step brings the decision maker’s interests, values, and personal preferences into the process. Identifying criteria is important because what one person thinks is relevant, another may not. Also keep in mind that any factors not identified in this step are considered as irrelevant to the decision maker.