Describe how you would handle the decision making process in the following scenario:
You and a close family member have decided to open your own retail clothing store. You have equal investment risk, but different skill sets that bring a well-rounded approach to the overall business strategy. Critical business decisions must be made and as with any business there are times when partners do not agree. Write a 2 page paper in APA format (not including cover sheet and reference pages) describing the business decision making process and how conflicts would be resolved for launching a controversial line of clothes. Your paper should include the following:
What is the decision making process normally used by you and family member?
Is there one person responsible for the new line of clothes or accessories due to their experience and skill set, or are decisions mutually agreed upon?
Describe how the conflict would be resolved with you wanting to launch the clothing line, while your business partner does not.
How would the decision-making process help resolve this conflict?
Consider the special challenge of working to make a company decision with family involvement.
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