Answer to Question #176007 in Psychology for Gagan

Question

As a member of the executive board of your company you are participating in discussions about whether or not your company should invest in a new line of products. The investment would be large and the results hard to predict. Based on the text and lectures, what would you recommend the group should do in order to make the best decision possible?

Answer 1

I would recommend the company to invest in a new line, but to start with a small investment that will be simple to manage and run, then with time, it can expand to the big investment line. Investing in a large line if product, can be hard to manage leading to closure of the company.