Analysis problem
Business Finance
Either pick the Ford Edsel example highlighted above or any monumental/major business failure of your choosing, and answer the following questions:
A). If you choose a failure other than the Edsel, write an introductory paragraph describing the nature of the initiative, planning that was done, decisions that were made and the resulting failure.
- Explain how poor/inadequate planning may have contributed to portions of the failure.Be specific.
- Which of Ringbakk’s 10 reasons that cause plans to fail are reasons for failure for the Edsel or the failure you are choosing to write about?
- What aspects of the failure were completely unavoidable and the reasons they were completely unavoidable?
- In chapter 6, Certo speaks of needing to make decisions in conditions of risk and/or uncertainty. However, decisions still need to be made.Good planning includes risk management and mitigation plans. For Edsel or the failure you are writing about, explain what the company did or did not do to properly manage and mitigate risk.
- In hindsight (often being referred to as always “20-20”), what were the “fateful” decisions that contributed to the failure?What other decisions would you suggest the Company should have/could have made for a better outcome?
- If you were a consultant to the company at the time the company was planning, and the company took your advice to plan properly, would you still have recommended the initiative be implemented?Why or why not?
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