MANAGEMENT DECISION-MAKING Assignment Example | Topics and Well Written Essays - 500 words

MANAGEMENT DECISION-MAKING - Assignment Example Here is an analysis of the business model used by the Thomson Reuters Company in Canada. Thomson Reuters is a multinational mass media company. It is not only a leading brand in Canada, but also all over the world. It also deals in sale of software applications in the fields of: accounting, document management, payroll, tax, mobile applications, and company workflow management, among others. It has a strategic business model whereby the organization framework is divided into four main categories. These categories include: Financial and Risk operation division, Legal division, Thomson Scientific division and the Tax and Accounting division (Thomson n.pg). On the other hand, the Thomson Reuters Company dwells on acquisitions so as to accelerate growth. Over the years, Reuters has acquired companies such as: Pricing Partners, MarkMonitor, RedGear Technologies, FX Alliance Inc, Kortes, Emochila, CorpSmart, Manatron, GFMS, RedEgg, among many others (Thomson n.pg). In addition to that, Reuters carries out direct sales to their customers through website as well as through other platforms such as online app stores. Therefore, their supply chain is relative less complicated as compared to other companies that sell tangible goods. However, some software application requires a one-time fee during purchase. I would recommend that the Thomson Reuters Company should start considering innovation as the main fuel for growth and expansion instead of acquisition. This company has relied on acquisitions as a driver for growth and innovation. The Thomson Reuters company should introduce a fund whose main purpose will be to support innovation through creation of new ideas. This process of implementation has to be gradual in order to allow time for elimination of errors. Thomson Reuters Company can start by setting innovation boundaries in terms of number of ideas to be considered and amount of revenue that will be utilized