Question: Find an example of a recent major decision (whether in business, politics, etc.) that was made based on assumptions that turned out to be incorrect.
Starbucks Decision to Offer a New Product: A 3 in 1 Coffee
The decision of the company to offer a new product which is a 3- in- 1 coffee (in an Asian Country). For this new product, the buyer does not need to go to their shops just to have a taste of Starbucks coffee. The main selling proposition in this new idea is that they can drink the usual coffee conveniently right in their homes, offices, in their cars, and in any other places. They are not required to travel and reach a Starbucks coffee shop. Several variants of coffee ( same as what they offer in their coffee shops) are offered and are bought in convenient 3 ?in-1 sachets ( coffee, cream, and sugar) from supermarkets and convenient stores.
This decision may have been made under the following assumptions that are incorrect:
1. A buyer would patronize Starbucks coffee, either from their coffee shops or in the buyer?s most convenient place.
2. Convenience is the key ...
This solution helps with problems regarding incorrect assumptions related to major decisions in business.