Business Expansion Decision-Making

Questions and Answers

What kind of decision is it when Kelly decides into which new market to expand GearUp?

strategic and unstructured

Who should decide how GearUp should expand into a new market?

A collaborative team drawn from employees across GearUp

How should the team meet to collaborate if the members are located at several different sites?

virtual meetings

Align each team task with the appropriate project phase:

<p>Set up team roles and rules = Project initiation Assign team ideas to explore = Project planning Meet to discuss ideas = Project execution Make a recommendation = Project closure</p> Signup and view all the answers

How do you give feedback about the gym idea in the meeting?

<p>"I think the gym idea is great; however, focusing so much on soccer will narrow our market. The GearUp gyms should have teams and training in other sports and fitness options."</p> Signup and view all the answers

Study Notes

Decision-Making in Business Expansion

A strategic decision for GearUp involves assessing new market opportunities.
Such decisions are classified as unstructured due to their complexity and uncertainty.

Team Collaboration for Expansion

A diverse collaborative team should be formed with employees from various departments.
This team will lead the decision-making process for expanding into a new market.

Virtual Collaboration Methods

Team members located at different sites can utilize virtual meetings for discussions.
Virtual meetings facilitate collaboration and communication in geographically dispersed teams.

Project Phase Alignment

Initial phase: Set up team roles and establish rules for interaction.
Exploration phase: Assign specific ideas for investigation based on team input.
Discussion phase: Schedule meetings to collaboratively discuss ideas brought forth.
Final phase: Compile findings and make a structured recommendation.

Providing Constructive Feedback

Express approval of the team’s gym idea but recommend broader options.
Suggest incorporating various sports and fitness programs to appeal to a wider market rather than focusing solely on soccer.

Description

Explore the strategic decision-making processes involved in business expansion. This quiz focuses on team collaboration, virtual communication methods, and project phase alignment necessary for effective market entry. Assess your understanding of the complexities and uncertainties inherent in such decisions.