Chapter 2, Problem 1CRQ

What are some of the factors that enabled to Jen Rubio and Stephanie Korey to make good decisions when they established their luggage company, Away?

Summary Introduction

To explain:

The factors that helped the founders to make good decisions when the luggage company was established.

Introduction:

Decision making is the process in which selection is done through various possible options. Members of the top management are the ones who are responsible to make a decision that affects the future of the organization. Some decisions taken are simple, but a manager's decision is often very complex as it has multiple options with uncertain outcomes.

Answer to Problem 1CRQ

The factors that helped the founders to make good decisions when the luggage company was established are prior experience in working for an e-commerce start-up company and their expertise in different fields such as marketing and operations.

Explanation of Solution

Both of the founders of the company "A" had prior experience in working for an e-commerce start-up company. One of the founder's background was more in marketing and branding. While the other founder was involved in supply chain management and operations.

Thus, each of the members brought their great expertise to various aspects of the business. They were successful in making good decisions as they made those decisions by relying on expertise, shared knowledge and lots of research before reaching a decision.

These are some of the factors that helped the founders to make good decisions when the luggage company was established.