Week 4-Individual Assignment: Case Study: Decision Making Amber L iu is an entreprencur hho started an online company selling luxury headpbosec. She loves exploring different musieal genres, which sparked at interest in doing beadphoses reiearch. She diseovered that the world of headphones was obtuse, with numeroas brands advertising different incomprehensible jargon, numcrous types with different features and drawbacks, and wes coenplicated by the fact that the audio source and power supply made a significant difference to sound fidelity ia ber experience. She decided to do something about it and make a business selling high-end beadphooes that simplified the experience for customers. Her nascent website featured a questionaire that determinod the usage for the headphones and educated customers about what they should be looking for. One feature of the website was an "ask me anything" " fcature which would consect her customens fo ber directly so they could ask questions about headphones. Amber's knowledee and sales daills meant that she could convert the conversations inte a sale 10% of the time, as opposed to the average visiter who made a purchase less than 2% of the time. As the popularity of the website grew, Amber had to cellist her brother Craig (a music connoisseur in his own right) to help out. Sales erept up and revicws about their w ebsite were positive. However, Amber and Craig could no longer keep up. They needed help and they hired a young audio enpincering student and his friend to answer questions on an altemating-shift basis. Between Amber, Craig, and the 2 studests, the website had somoone monitoring customer chat 247 . This wasn't enough. At peak times there would be a deluge of customer inquiries and Amber neobed more skilled people. Further, sbe no longer had the physical space in her parent's busentent saite to accommodate the business. It was time for the business to move. Amber did a little research and came up with a few altematives. She's eure thar more altematives are available, but she has had little time to think since her buxiness has been taking off. First, she could rent office space out in the suburbs. The office she found was far away from ber bone and would create a significant commute for her, her brother, and the employece. Howeser, the spoce was cheap. parking plentifil, and there was a lot of space for growth because it coold comfortably fit 30 people. Second, she found a chic downtown office. It was nearby her home and woald surcly impress visitors, including potential investors who she is considering soliciting for money to expand the businesis. However, it is expensive and can only accommodate 15 people, leaving little room for growth. Third, she could have all her employees working from home and provide an allowance for equipment. This would be cheapest by far as she would not need to rent any additional spoce. She would also be able to hire people from outside her city because it's not necessary that they are physically on site. However, she is concerned about nor being able to monitor employees job performance or develop a collaborative culture at her business. After thinking about all this, Amber is struggling to come to a decision, -What should I do? This will certainly affect my business for years to come." Questions ( 10% total grade, out of 20 marks) You will be following some of the steps thas a decision-ntaker should go through when they mast decide. Utilize the 7 steps of the decision-making prosess in your lecture slides answer the following questions. 1. (3 manks) Gecierate multiple alternutives. What possible alternatives for lecations does Amber have? Are there more alternatives besides what was listed? Please list at lenst 3 alfernatives. 2. Amalyzing Alternatives. a. (8 marks) Gencrate criteria. What should matter to Amber? Please to assign a weight to cach of the criteria. For example, if you believe the cod matters a lot, but the distance from home only matters somewhat, you may want to assign a weight out of 10 on each one. Create a scoring model using your learnings froms today's slidek. This caa be in a b. (2 marks) Discuss the pros and cons of ench of the altematives you have generated against the criteria you have created. 3. (4 marka) Silect an Altematrive, What recommendation do you have for Amber? You may do this by assigning a seore for each of the altematives under each of the criteria, and multiplying it by the weight, then adding up the totals for each altemative. (Usually, the second highest seore is the best altemative) 4. (3 marks) Justify and explain your answer: Week 4-Individual Assignment: Case Study: Decision Making Amber L iu is an entreprencur hho started an online company selling luxury headpbosec. She loves exploring different musieal genres, which sparked at interest in doing beadphoses reiearch. She diseovered that the world of headphones was obtuse, with numeroas brands advertising different incomprehensible jargon, numcrous types with different features and drawbacks, and wes coenplicated by the fact that the audio source and power supply made a significant difference to sound fidelity ia ber experience. She decided to do something about it and make a business selling high-end beadphooes that simplified the experience for customers. Her nascent website featured a questionaire that determinod the usage for the headphones and educated customers about what they should be looking for. One feature of the website was an "ask me anything" " fcature which would consect her customens fo ber directly so they could ask questions about headphones. Amber's knowledee and sales daills meant that she could convert the conversations inte a sale 10% of the time, as opposed to the average visiter who made a purchase less than 2% of the time. As the popularity of the website grew, Amber had to cellist her brother Craig (a music connoisseur in his own right) to help out. Sales erept up and revicws about their w ebsite were positive. However, Amber and Craig could no longer keep up. They needed help and they hired a young audio enpincering student and his friend to answer questions on an altemating-shift basis. Between Amber, Craig, and the 2 studests, the website had somoone monitoring customer chat 247 . This wasn't enough. At peak times there would be a deluge of customer inquiries and Amber neobed more skilled people. Further, sbe no longer had the physical space in her parent's busentent saite to accommodate the business. It was time for the business to move. Amber did a little research and came up with a few altematives. She's eure thar more altematives are available, but she has had little time to think since her buxiness has been taking off. First, she could rent office space out in the suburbs. The office she found was far away from ber bone and would create a significant commute for her, her brother, and the employece. Howeser, the spoce was cheap. parking plentifil, and there was a lot of space for growth because it coold comfortably fit 30 people. Second, she found a chic downtown office. It was nearby her home and woald surcly impress visitors, including potential investors who she is considering soliciting for money to expand the businesis. However, it is expensive and can only accommodate 15 people, leaving little room for growth. Third, she could have all her employees working from home and provide an allowance for equipment. This would be cheapest by far as she would not need to rent any additional spoce. She would also be able to hire people from outside her city because it's not necessary that they are physically on site. However, she is concerned about nor being able to monitor employees job performance or develop a collaborative culture at her business. After thinking about all this, Amber is struggling to come to a decision, -What should I do? This will certainly affect my business for years to come." Questions ( 10% total grade, out of 20 marks) You will be following some of the steps thas a decision-ntaker should go through when they mast decide. Utilize the 7 steps of the decision-making prosess in your lecture slides answer the following questions. 1. (3 manks) Gecierate multiple alternutives. What possible alternatives for lecations does Amber have? Are there more alternatives besides what was listed? Please list at lenst 3 alfernatives. 2. Amalyzing Alternatives. a. (8 marks) Gencrate criteria. What should matter to Amber? Please to assign a weight to cach of the criteria. For example, if you believe the cod matters a lot, but the distance from home only matters somewhat, you may want to assign a weight out of 10 on each one. Create a scoring model using your learnings froms today's slidek. This caa be in a b. (2 marks) Discuss the pros and cons of ench of the altematives you have generated against the criteria you have created. 3. (4 marka) Silect an Altematrive, What recommendation do you have for Amber? You may do this by assigning a seore for each of the altematives under each of the criteria, and multiplying it by the weight, then adding up the totals for each altemative. (Usually, the second highest seore is the best altemative) 4. (3 marks) Justify and explain your