BUS 225 1-1 assignment: critical thinking for business decisions

Introduction to BUS 225 1-1 Assignment

Welcome to the BUS 225 1-1 assignment: critical thinking for business decisions. This How-To Guide revolves around your understanding of Critical Thinking for Business. I will provide brief and descriptive guidelines to solve the 1-1 Assignment post and a dummy solution for each section. This Owlisdom How-To Guide will equip you with guidelines to tackle all the queries related to the BUS 225 1-1 assignment: critical thinking for business decisions post. Let us begin with the guide.

Analyze the diversification strategy of either Disney. Explain how critical thinking applies to decision-making based on your review of a real-world scenario.

Introduction

For the BUS 225 1-1 assignment: critical thinking for business decisions, I have selected Disney. Keeping this in mind, we have to briefly introduce Disney and highlight the role of Critical Thinking in decision-making.

• Briefly describe Disney’s diversification strategy. This could include expansion into different entertainment mediums, geographical expansion, acquisition of other companies, etc.
• Highlight the role of critical thinking in decision-making. Mention why evaluating various factors beyond pros and cons is essential in complex business environments.

Example

Disney, a global leader in entertainment, has skillfully executed a diversification strategy that spans various mediums and markets. This strategy includes venturing into television, theme parks, digital platforms, and international expansions and acquiring other entertainment entities like Pixar, Marvel, and Lucasfilm (Symes et al., 2017). Such moves broadened Disney’s portfolio and fortified its market position across different demographics and geographies.

Critical thinking has played a pivotal role in Disney’s decision-making process, enabling the company to navigate complex business environments successfully. By evaluating factors beyond simple pros and cons—such as potential long-term market trends, cultural shifts, and technological advancements—Disney has made informed decisions that capitalize on emerging opportunities and mitigate risks(Grenier & Kaeppel, 2023). This approach underscores the importance of a nuanced analysis that includes brainstorming, data examination, creativity, and strategic foresight, which is essential for thriving in today’s dynamic business landscape.

Explain how critical thinking for decision-making applies to the scenario. Use evidence to support your explanations.
What makes critical thinking crucial for decision-making?

Application

For this section of BUS 225 1-1 assignment, critical thinking for business decisions, we must explain the application of critical thinking in decision-making.

• Explain the application of critical thinking. Discuss how critical thinking skills such as analysis, evaluation, and reflection might have been applied in Disney’s decision to diversify. 
• Illustrate your points using specific examples or hypothetical scenarios based on Disney’s history.
• Support your explanation with evidence. Refer to specific instances within the linked documents or credible sources that indicate using critical thinking in decision-making.

Example

In the strategic diversification of Disney, critical thinking was paramount, involving rigorous analysis, evaluation, and reflection (Santiago & Skov-Carlsen, n.d.). For instance, Disney’s acquisition of Pixar, Marvel, and Lucasfilm showcases an application of critical thinking in identifying synergies that could expand its market reach and content library. Disney evaluated the potential for these companies to enrich its storytelling capabilities and appeal to wider audiences, thus securing a competitive advantage in the entertainment industry.

The decision to diversify into streaming services with Disney+ is another example of critical thinking in action. Disney analyzed the shifting consumer preferences toward digital content consumption and evaluated the long-term benefits of owning a direct-to-consumer platform (Mulla, 2022). This move required reflecting on the company’s core competencies in content creation and leveraging them in a new, rapidly growing distribution channel.

These decisions underscore the critical role of thinking beyond immediate gains, focusing on sustainable growth and adaptation to technological advancements and changing market dynamics. 

Explain how information (such as facts, opinions, and published reports) determines or establishes the context. Use evidence to support your explanations.
Why do you think the company decided to diversify?
What steps do you believe were taken? Explain your response using sources found during your research on your selected company.

Analysis

For the analysis of the BUS 225 1-1 assignment, critical thinking for business decisions, we will discuss different sources and use them to justify our comments. 

• Analyze the information used for decision-making. Detail how Disney might have used facts, opinions, and published reports to shape their diversification strategy. 
• This could include market analysis, consumer behavior studies, and financial forecasts.
• Discuss the company’s decision to diversify. Based on your analysis, infer why Disney decided to diversify. 
• Consider economic, competitive, and strategic factors.
• Outline the presumed steps taken. Speculate the sequence of actions or decisions Disney made in its diversification process. 
• Support your reasoning with research, pointing to similar decisions made in the business world as examples.

Example

Disney’s decision to diversify its business operations was driven by a comprehensive analysis of market trends, consumer behavior studies, and financial forecasts, utilizing facts, expert opinions, and industry reports (Santiago & Skov-Carlsen, n.d.). The strategic move towards acquiring major content creators like Pixar, Marvel, and Lucasfilm was influenced by the need to stay competitive in a rapidly evolving entertainment landscape and to cater to a broader audience with varied interests.

Economic factors, such as the rising demand for digital content and the shift towards streaming platforms, played a significant role. Disney recognized these trends and launched Disney+, a direct-to-consumer streaming service, to capture the growing online viewership and ensure a direct relationship with its consumers (Soares et al., 2022)

Strategically, Disney’s diversification can be seen as steps to mitigate risks associated with over-reliance on traditional revenue streams and to explore new growth avenues in content creation, distribution, and technology. The company likely conducted an in-depth market analysis, evaluated potential acquisitions for synergy, and planned for an integrated approach to content distribution across its platforms.

Describe the role of logic, evidence, and arguments in the company’s decision-making process.
Was the decision to expand products, services, or value chain successful? Why or why not?

Conclusion 

In conclusion of BUS 225 1-1 assignment: critical thinking for business decisions, we will summarize all the key takeaways.

• Describe the role of logic, evidence, and arguments. 
• Summarize how these elements were crucial in Disney’s decision-making process. Emphasize the importance of a well-reasoned approach backed by solid evidence.
• Evaluate the success of the diversification. Assess whether Disney’s strategy to expand products, services, or its value chain was successful. 
• Provide reasons for your conclusion, including financial performance, market share growth, or enhanced brand value.

Example

Disney’s decision-making process is epitomized by a reliance on logic, evidence, and sound arguments, crucial for its successful diversification. This methodical approach, grounded in market analysis, consumer insights, and financial projections, enabled strategic decisions like acquiring major studios and launching Disney+ (Soares et al., 2022). The outcome of these strategies is a testament to Disney’s success, which is reflected in Disney’s improved financial performance, market share expansion, and increased brand value. The launch of Disney+, alongside acquisitions such as Pixar, Marvel, and Lucasfilm, diversified Disney’s audience and content, enhancing its competitive edge and resilience in the market. This well-reasoned, evidence-backed strategy underscores Disney’s leadership in the entertainment industry and its capacity to thrive amidst evolving market dynamics.

Closing

By following this BUS 225 1-1 assignment: Critical Thinking for business decisions guide, you can construct a well-organized and insightful analysis of Disney’s diversification strategy through the lens of critical thinking and decision-making.
In the next module of BUS-225, we will explore the 1-2 Discussion on Research and Problem Solving.

References

Grenier, R. S., & Kaeppel, K. (2023). Challenging Dominant Ideologies and Expanding the Narrative Habitus in Spaces of Organizing Through Critical Thinking. In J. C. Collins & J. L. Callahan (Eds.), The Palgrave Handbook of Critical Human Resource Development (pp. 201–218). Springer International Publishing. https://doi.org/10.1007/978-3-031-10453-4_12 

Mulla, T. (2022). Assessing the factors influencing the adoption of over-the-top streaming platforms: A literature review from 2007 to 2021. Telematics and Informatics, p. 69, 101797.

Santiago, L., & Skov-Carlsen, M. (n.d.). Integrated Strategy Project (ISP).

Soares, D., Freitas, H., Oliveira, J., Vieira, L., & Au-Yong-Oliveira, M. (2022). Keeping the Eyes Busy: A Case Study of Disney+. World Conference on Information Systems and Technologies, 195–206.

Symes, H., Sharma, U., & Davey, H. (2017). The impact of accounting regulations on annual report length. International Journal of Economics and Accounting, 8(3–4), pp. 275–302. https://doi.org/10.1504/IJEA.2017.092278