Topic
Reasons for failure to identify the problem at the company
Instructions
A large financial institution is losing market share to savvy upstart companies, and it has asked its top marketing executive to identify the main reasons for the sliding fortunes. Describe three barriers that might cause the marketing executive to poorly identify the problem(s). An illustrative example in this context should be included for each barrier
Answer preview
It solely remains the duty of the company to be able to identify the problems that are leading to unwarranted situations in a company before a situation goes worse. However, in this case, it has proved to be very technical for the company to identify some of the problems they are having; this could be due to a number of reasons at hand (Langton, 2013). The first reason could be the fact that they are relying on preconceived mental models; this has been seen before with Yahoo where they were not able to notice the fact that the google search engine was growing famous than they had thought.
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