Bus-225 Project 2

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Jun 21, 2024

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Diversification Debra Shifflett Project Two BUS-225 Critical Business Skills for Success Professor Sara Earley June 14, 2024
Agenda • The current state of the U.S. automotive manufacturing industry. • Current automotive industry trends. • Trends in the lawn and garden industry. Bing. 2024
Current state of the U.S. automotive industry Wards Intelligence. Main. EIA. U.S. Energy Information Administration. 2024.
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Current automotiv e trends Automotive Motors Market Size, Growth, Trends, Report 2022-2030 . (n.d.).
Current Automotive Trends
Current Automotive Trends Bing. 2024.
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Trends in the Lawn and Garden Industry
Trends in the Lawn and Garden Industry
Trends in the Lawn and Garden Industry This Photo by Unknown Author is licensed under CC BY-SA-NC
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Summary of data In summary both the automotive industry and the lawn and garden industry rely solely on customers to buy the products to increase the revenue for each company. When covid-19 epidemic began there were companies that began struggling because no one was buying as much during that time. Both the automotive industry and the lawn and garden industry are powered by fuel, and both need consumers to purchase in order to thrive.
Gaps in data • While the data shows what the sales have been for each individual area in the automotive industry, it does not accurately depict why consumers chose the one model over another model. There may be loyalty to one specific brand over another as well as emotional factors could be the reason why one brand is chosen over others. •   Within every visualization lies a story behind the image that is being portrayed. Such as where they have been made and what went into each production. Data cannot catch every intricate detail it only shows the metrics for each product.
Decision-making Models The Rational Model • The rational decision-making model involves identifying the criteria that will have the biggest impact on your decision's outcome and then evaluating possible alternatives against those criteria. • The Intuitive Model • While making decisions based only on instinct may not seem like the best idea to those who prefer a more careful and logical approach, there are plenty of instances when going with your gut is the best way forward. • The Recognition-Primed Model • The recognition primed model is close to the intuitive decision-making model in that it relies heavily on the decision-maker's experience and instinct. However, the recognition primed model is a little more structured than intuitive decision-making.
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Rational Decision-Making M The Rational Model • The rational decision-making model involves identifying the criteria that will have the biggest impact on your decision's outcome and then evaluating possible alternatives against those criteria. • The Rational Decision-Making Model makes the most sense for my current industry because the rational decision-making model involves making the decision by evaluating and than making decisions. Decisions that are evaluated are not entered into haphazardly it is well through out and that is why it is the best model for the Lawn and Garden Industry.
References Automotive Motors Market Size, Growth, Trends, Report 2022-2030 . (n.d.). https://www.precedenceresearch.com/automotive-motors-market Carlier, M. (2022, July 21).  U.S. car market: by vehicle type 2019 | Statista . Statista; Statista. https://www.statista.com/statistics/276506/change-in-us-car-demand-by- vehicle-type/ EIA. (2023, September 7).  Electric vehicles and hybrids make up 16% of U.S. light- duty vehicle sales . Www.eia.gov. https://www.eia.gov/todayinenergy/detail.php?id=60321
References cont’d • Lawn & Outdoor Equipment Stores in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)| IBISWorld . (n.d.). • Www.ibisworld.com. Retrieved June 14, 2024, from https://www.ibisworld.com/united-states/market-research-reports/lawn- outdoor-equipment-stores-industry/#IndustryStatisticsAndTrends • IBISWorld - Industry Market Research, Reports, and Statistics . (n.d.). Www.ibisworld.com. https://www.ibisworld.com/united-states/market-research-reports/lawn-gar den-equipment-manufacturing-industry/ • Yunes, T. H., Napolitano, D., Scheller-Wolf, A., & Tayur, S. (2007). Building efficient product portfolios at John Deere and Company. Operations Research, 55(4), 615-629.
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References cont’d Lawn & Garden Equipment Market Size, Forecast | Growth, 2028 . (n.d.). Www.fortunebusinessinsights.com. https://www.fortunebusinessinsights.com/lawn-garden-equipment-market-106385 Inc, G. M. I. (2022, December 21). Lawn & Garden Equipment Market revenue to cross $97.5 Bn by 2032, Predicts Global Market Insights Inc. GlobeNewswire News Room. https://www.globenewswire.com/news-release/2022/12/21/2577721/0/en/Lawn- Garden-Equipment-Market-revenue-to-cross-97-5-Bn-by-2032-Predicts-Global- Market-Insights-Inc.html Soomo Learning. (2020). Critical business skills for success. Retrieved from https://www.webtexts.com

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