The seven-step decision-making process

    Panmouth Health, a subsidiary of General Standard, a large conglomerate, manufactures thermometers. Your primary customers are large companies who purchase the thermometers to use for specialty advertising. Over the last several years, however, low-cost overseas competitors have pulled away many of the company’s long-time customers. General Standard has become concerned about the loss of market share and declining profit. You, as Monmouth general manager, have been asked to put together a recovery plan to present to the General Standard board of directors. Use the seven-step decision-making process described in the chapter to decide which option management should present to the General Standard board of directors. Defend your choice.