Company Background: OptiSolutions Inc. is a technology company specializing in developing cutting$-$ edge software solutions for businesses. The company has been experiencing significant growth over the past few years, with a diverse portfolio of products catering to various industries. One of its flagship products is an AI$-$powered project management software, which has garnered widespread acclaim and a substantial user base.

Challenge: OptiSolutions Inc. is at a crucial juncture in its journey. The management team is facing a pivotal decision regarding the future of their flagship product. The software is currently in the "mature" phase of its life cycle, and the market is evolving rapidly. New competitors are entering the field, offering innovative features and competitive pricing. The company's existing product has seen a plateau in revenue growth, and some customers have voiced concerns about certain limitations in the software.

Objective: The management team needs to make a rational and well$-$informed decision regarding the future of the AI$-$powered project management software. The decision$-$making process should involve careful analysis, evaluation of potential options, and the selection of the most advantageous strategy for the company's continued success.

Assignment:

Use the $$Rational Decision Making Process$$ to frame your decision as a group. You may create information$/$documents you don$$t have. This is a fictional company and purely for practice. After that, create and present a $5-7-$minute$-$long presentation, answering the following questions:

$1.$ What specific problem is OptiSolutions Inc. facing with its flagship software product?

$2.$ What data did the management team gather to make an informed decision?

$3.$ What criteria did the team consider when evaluating alternatives for the software product?

$4.$ What are the potential alternative strategies for the company, and what are their pros and

cons?

$5.$ Which alternative would you recommend for OptiSolutions Inc., and why?

$6.$ How should the company go about implementing and monitoring the chosen strategy?

All team members need to speak, dress and act professionally. Each group member is required to present.

Due: Presentations are in class on Tuesday, October $31,2023.$ Order will be in order of group # ie$.$ Group $1,$ then Group $2,$ etc.

Decision$-$Making Process Steps:

$1.$ Problem Identification:

$$ Clearly define the problem the company is facing. Is it declining revenue, competitive pressure, or customer dissatisfaction with the existing product?

$2.$ Data Collection:

$$ Gather data and information related to the problem, such as financial reports, customer feedback, market research, and competitor analysis.

$3.$ Identify Decision Criteria:

$$ Establish the criteria and factors that will influence the decision. These may include market demand, profitability, customer needs, and technological advancements.

$4.$ Generate Alternatives:

$$ Brainstorm potential solutions or strategies. In this case, alternatives could include improving the existing software, discontinuing it$,$ launching a new product, or partnering with another technology company.

$5.$ Evaluate Alternatives:

$$ Assess each alternative against the established criteria. What are the pros and cons of each option? Consider the financial, operational, and strategic implications.

$6.$ Select the Best Alternative:

$$ Give you recommendation on the best alternative.

$7.$ Implement the Decision:

$$ Not required for this project

$8.$ Monitor and Review:

$$ Not required for this project