Case Study - Decision Making
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Assignment 2: Case Study
Dan Miller is a dentist who has a successful practice in a medium-sized city. Recently business suffered as a result of patients not paying their dues on time. The problem intensified so much so that he decides to do something about it. A consultant suggests that he offer 5% discount for immediate payment, but Dan is not sure if that will solve the problem. He also wonders how much this move will cost him. One of his friends tells him that the discount offer would be a bad idea because he knows of a construction company that used the discount policy, which ended in disaster. The company lost 5% of its revenue on those who would have paid promptly anyway, and those who did not intend to pay on time simply did not pay.
Critically analyze Dan's friend's advice. Point out the relevant aspects as well as any judgments in the advice. Does Dan's friend make any questionable assumptions?
Mention other alternatives for Dan Miller and describe their relative advantages.
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Solution Summary
The solution examines Dan's friends advice from the case study. The expert points out the relevant aspects as well as any judgement in the advice. Other alternatives for Dan Miller and their relative advantages are described.
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To analyze the advice, one needs to look at several things.
1) is the advice relevant to the problem?
2) Does the advice help solve the problem by giving reasons that are solid?
3) Did the friend offer alternatives?
4) What assumptions did the friend make?
The advice is not really relative to the problem because though it is about getting people to pay their bills, the advice was based on a company in a different field and billing for ...
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