In $1993,$ PUMA AG was facing major threats. It had lost money for the past eight years and was facing imminent bankruptcy. In response, PUMA CEO Jochen Zeitz considered changing their strategy to focus more on style, colors, and lines of athletic shoes and less on performance capabilities. Other actions considered included reducing production costs and revising distribution in the United States. Zeitz and his top managers weighed the pros and cons of these ideas. As a result, PUMA created a new division, called "Sport Lifestyle," and focused on creating experimental fashion products. For example, PUMA transformed cleated soccer shoes into trendy, colorful suede fashion sneakers. These new sneakers were sold in a variety of venues, such as Foot Locker, Barneys, and upscale boutiques and department stores. By shifting their strategy and focus, PUMA AG became the fourth$-$largest athletic apparel company worldwide."

Instructions: Place the actions that PUMA took to address the problems in the correct order. You must think about the decision$-$making process as your actions.

Rank the options below.

Implement chosen alternative$-$ Sell fashion sneakers

Assess alternatives$-$ Weigh pros and cons

Learn from feedback$-$ Fourth$-$largest athletic apparel

Choose among alternatives$-$ Sport Lifestyle division

Facing bankruptcy$-$Recognize need for decision

Generate alternatives$-$ CEO considers possible actions