Business Decision Malkng Projects, Part 3 - Essay Example

Business Decision Making Century 21 decided to open a newfranchise, which was an excitingopportunitybutstillhadrisksinvolved.The researchwasconducted which helpedtheorganization to avoidtherisks to be successfulandprofitable. Theteamneeded to go through thehousing statistics in thecity to knowifthey could meetthecustomer’s demands at an affordable priceOne of themethodsusedwasthe quantitative analytics thathelpedassesstherisksandopportunitiesinvolved. Theoriginaldatawascondensedusingstatisticalstandpoint into 30 points that representedthe 105 points.

In thefindings, theaverageprice of a homewas $222,700 andaveraged 2,273 sq. ft. in size. Thehomesaveragedthreebedroomsandtwobathswhile 30% of thehomeshave a pool. Of the 30 homes, 70% had a garageandtheaveragedistance from thecitycenter is 15 miles(Simon, 1979).There are manyadvantagesandopportunities in businessownershipthat may includeFlexibility, freedom, being your boss, andcontrol to create your future. Lack of self-discipline, however, createschances of businessfailure. Datainformationhavingbeenobtained from varioussourcesgaveinsight to thecurrenthappenings in thebusinessworld.

Thechoice of opening a franchise is a significantbusinessdecision, andmanyrisks can be laid to restif there is sufficient data analyzed to makesurethechoice is going to be successfulandprofitable(Cooper & Schindler, 2003).Knowledge of commercialrealestateandfinancemarkettrendshelps Century 21 to establish its franchiseandto preparefor long-term survivability and profitability. After validating and analyzing the housing statistics and confirming the reliability, starting a new franchise in the identified new community is the final step to be taken.

ReferencesCooper, D. R., & Schindler, P. S. (2003). Business research methods.Simon, H. A. (1979). Rational decision making in business organizations. The American economic review, 493-513.