The Cargo Shipping Industry Is An International Business Commerce
The cargo shipping industry is an international business commerce. It is included four main segments: container shipping, roll-on and roll-off, bulk shipping and tanker shipping. The top 15 success industries focus their business on Asia-Europe and Asia-North America shipping lanes, which accounted for approximately 80% (‘Case Study: Meli Marine’ 2015). Meli Marine, another shipping industry in Singapore, has already been attracted to expand their international business into the Asia-North America. According to Meli Marine background and global trend, the following section will provide five main critical questions for CEO David Tian and then justify these questions. After that, the paper will end with a brief conclusion.
Justification and discussion of relative effectiveness of critical questions
1. What information does CEO need to avoid decision-making trap?
Decision-making trap plays a vital role in a business situation. As an experienced CEO in the shipping market, David Tian is responsible for the company operation. It is possible for the CEO falling into decision-making trap. The primary decision-making trap is the confirming-evidence trap. Hammond (1998) illustrates the bias of confirming-evidence would lead us to believe existing information, which have already received to mind while avoiding contradicts information. For example, imagining you are an America Manufactory Company’s CEO considering whether cancelling a planned offshore…