Case study: carter racing

Case study: carter racing

The case study involves a scenario of a racing team “carter racing” that has previously been in the racing field for a while. Still, the previous results, ratings, and car failures have been recently threatening their capability of them making more exceptional Performance in the forthcoming events despite the presence of events sponsors who have identified the uniqueness and the potential that the team has(Assa). This has been prevalent by the mixed reactions that has been realized from the team’s responses towards the Performance of their cars and the possibility of the cars underperforming due to the variance in the gaskets Performance and the air temperatures expectations which have been the main excuses of the breakages that the riders have presented as the failure in the previous racing

BJ, one of the managing crew of the carter, is found in a thick and thin scenario. Where he has no clue on the decision to make on whether to make participation in the forthcoming race where the outcomes from the questionnaires presented to the riders show a scenario of unpreparedness of the team in terms of the car maintenance and observation of the breakage scenarios(Assa).

Decision making is a very crucial element in the running of a business enterprise where various problems affecting the Performance of the latter requiring rapid and long-lasting decisions the steps involved in the managerial decision-making process includes;

Establishment of the objective

The main objective of any business enterprise is the maximization of profits. With other firms expecting to create a positive reputation across the audience. For instance, in our scenario, “the carter racing team” is obliged to create a positive influence among the fans to improve their fans’ numbers and relevance.

Definition of the problem

In the decision-making process, the management is hunched at a position of defining and identifying the issue at hand.defination of the nature of the problem is one of the measures of solving the problem. In our scenario, the racing team is faced with the challenge of gaskets and the failure of the engines due to the temperature variance(Griffin). The case is requiring investigations and establishments of its causes, either the technology implied or the use of outdated vehicles in the racing business.

Identification of the alternative course of action

After the identification of the problem, the management is obliged to set out and look for possible solutions towards the widespread impact on the issue. The development of various hypotheses can become an alternative solution to the problem. For example, in the carter racing scenario, the primary worry with the racing team is the failure in the cooling systems and the gaskets systems. Which the management should put in rapid measures of a solution by finding alternative approaches instead of stepping out of the competition, which is the stepping stone that is lying ahead in increasing and promoting their reputation to the fans(Griffin).

Evaluating other causes of action

In this step, the management is presented with the alternative of different purposes of activities that require the analysis and the collection of other relevant data to save the current situation. Such as the evaluation of the feedback from the other team racers describe the racing in the coming race as irrelevant due to the expectation of failure in the mechanical system of the cars despite the added advantage of the turbo system(Assa). This is one of the problems realized through the analysis that options should be sought for instantly to promote and create more competing morale to the crew.

Implementation of the course of action

When the alternative route of work has been sought the optimal way selected, then the implementation of the decision is the final step. After the management evaluating the cost-effectiveness and the predicted output from the alternatives as well as the relevance among the sponsors(Griffin). Then there happen to be the opportune moment for the team to involve in the forthcoming race with the spirit of winning

With the management including the specifications outlined above in the realization and solving of the current problem will help BJ, one of the carters managers having the gut of making the decision that uniformly agrees that the team participates in the forthcoming race. That is capable of increasing their relevance to the fans and the sponsors in the event.

Work cited

Assa, Hirbod. “Risk Management under a Prudential Policy.” Decisions in Economics and Finance, vol. 38, no. 2, May 2015, pp. 217–30, doi:10.1007/s10203-015-0165-x.