Decision Making

MBA 711-04

Managerial Decision Making

15th December 2013

Professor Pemmaraju

Decision-making can be regarded as the cognitive process resulting in the selection of a course of action among several alternative scenarios. Every decision process produces a final choice. My aim is to bridge the gap between supply and demand of the most required medical equipment used in the Omani market. Due to increasingly high patient demand, lack of sustainable supply chains, deficiency in awareness of the products, and unjustified discrepancies in prices, medical institutes in public and private sectors struggle to provide their patient services with high quality optimum products.

I had an idea for a new business, and I have discussed it with my father since he has got a wide range of experience in this field. Before taking further decisions I had to do a business plan and study the market for almost 2 years, by assessing my resources, defining production equipment, and analyzing profitability and cash flow.

My first step in my decision was targeting a niche and target market for my medical supply business. Providing supplies to home heals aides, dental clinics, hospitals, and polyclinics. Meanwhile, I also concentrated more on the team that I needed, and since my budget was not enough I had to hire one team for each department in the beginning till the business picks up some profit.

With my father's strong background and experience in the medical field for 30 years in public and private sector throughout the Sultanate, my goal is to fill in the shortage in products faced by medical institutions in Oman. The health care services sector is under much strain, and requires up scaling of the local products business to supply the growing demand, creating a strong supply chain that maintains product availability at all times of the year.

My 2nd step was contacting the states public health department and medical board to find out if I need to be licensed to sell the types of medical equipment that am interested in carrying.

The 3rd step was obtaining the permits required from ministry of commerce and industry to start a retail business, going through the ministry of health to get an approval documents in order for me to receive the products through customs.

The 4th step I had to make was leasing a commercial warehouse that is temperature controlled to store my inventory.

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