Companies are faced with decisions every day that may affect future business transactions. When implementing critical thinking into the decision making process management will make more educated decisions. "Critical thinking is that mode of thinking-about any subject, content, or problem-in which the thinker improves the quality of his or her thinking by skillfully analyzing, assessing, and reconstructing it." (Edler & Paul, 2006). Moving into a new market is something that requires a careful analysis of all angles of the situation. The location, population, economy, and potential barriers are a main focus that Stonybrook researches before making any decision. Gathering all the fact before making the final decision is key to the success of the organization.
The location that Stonybrook is looking into is Kava. Kava is an island in the South Pacific where half of the population is under the age of 15. The population is made up of African, French, Spanish, Indigenous South Pacific tribes, and many Americans.
There is much diversity on the island of Kava. The economy is rich is petroleum, coffee, cocoa, spices, bananas, sugar, natural gas, fishing, tourism, and inexpensive quality labor. Some downsides to the island are earthquakes, fires, floods, HIV/AIDS, and many other types of storms.
The first major problem Stonybrook will be faced with is that half of population is under the age of 15. Being a loan officer requires a license to conduct business. This license can only be attained if they are over the age of 18. This is a major issue because of the number of land and home owners are limited. Lenders also have strict guidelines about lending money. They will not lend money to a minor. With such a young population there will be fewer clients to conduct business with.
The next major issue is the economy.