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 Part 1
Economists theorize that the following steps help managers make better decisions:
Identify the alternatives
Select the option that most efficiently accomplishes the objectives
Recognize and account for constraints that limit options
Consider the likely actions and reactions of other decision makers
Examine economic models with hypothetical situations
Choose a well-publicized company to research. This could be a company in the news, a favorite company, or the company you work for. You will reference this company in the discussions for Modules One through Four.

 Examples include the following:
Sears/Lands’ End
JC Penny
Best Buy
Ford Motor Company

Provide a one- to two-paragraph summary about your company. Include pertinent information such as the following:
Business formation date
Size of company
Products or services
Next, identify a specific situation in which a decision was made. Evaluate, in detail, whether or not the five decision-making steps above were followed. Was fact-based decision making used by management?Part 2

Respond to one your classmate’s scenarios from Module One. Provide two responses offering feedback on the evaluation of the economic steps, using examples from the company you have chosen.


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