Decision Analysis

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Decision analysis

Making a decision in any form of business is what determines whether the business will be one that is performing or no. to make the bet decisions, companies need to come up with strategies of ensuring that they make the best ones. The companies that have fallen in the past are those that did not take time to make the best decisions. As a company, one of the things that determine the extent to which the company will be successful is the type of decision they make. It is the reason why companies keep on hiring experts to help them with the decision making process. Walgreen Pharmacy has made a decision to introduce a new product into the market and it is one that has to be analyzed to see whether it can produce the best results. The pharmacy intends to introduce the medicine that can be used to treat some of the current diseases. By noticing the market gap, it was necessary that the company comes up with a way that can be used to ensure the company is able to utilize that gap. The decision was made after consultations had been made over the importance of such products to the clients in the market.

By looking at the decision that was made within the company, it is clear that it is a step that would help in improving the general performance of the pharmacy. Performance is always measured in terms of the competitive edge of the company in the industry. Since these are products that clients have been looking for in the industry, it is important to note that most of the clients will shift their attention from the pharmacies to this one. They already know that the company has been in the industry for quite a long period of time and is trusted by most of the clients in the industry. The stay in the industry has enabled the company to gain a lot of experience in the industry. One of the things that clients are always looking for are companies that know a lot about pharmacy. To achieve this, companies must employ people who have been in the industry for a long duration of time. They have to be trusted individuals who can deliver the needed quality over such a period of time. A pharmacy can best perform when it has been left in the hands of the people who wish to see it grow.

Since the competitors of the company have not yet utilized this opportunity, it will offer great value to the company. Selling products that other pharmacies do not have makes it quite easy to make profits. There are those companies that have been in the industry for a long duration though they have never experienced the behavior of this company. New opportunities always prove to the clients that the business really cares about them. They will trust the company and go ahead to make purchases from the company and even become a long-term client. To many people, the extent to which a business can claim that it is the best for the clients is by bringing up new ideas. The companies that have been in the industry for a long duration know the company as one that has survived the test of time and can be trusted to supply the best quality ones. One of the things that companies have been using for a long duration to defeat other companies in the industry is the fact that they hold a lot of information. The decision made is a good one and can be trusted to supply the best medicine in the region.

References

ammond, J.S.; Keeney, R.L. & Raiffa, H. (1999). Smart Choices: A Practical Guide to Making Better Decisions. Harvard Business School Press. ISBN 0-585-31075-0.

Fineberg, Harvey V.; Weinstein, Milton C. (1980). Clinical decision analysis. Philadelphia: Saunders. ISBN 0-7216-9166-8.