Decision-making in a business scenario

| May 21, 2015

10 citations from around 8 articles

use 2 to 3 decision making tools

count 1100 words not including reference list

hint: what is a good decision making process, critical thinking should be objective, no bias, no personal suggestion. Must be a very objective and comprehensive business analysis.

from tutorial:Your paper should focus primarily on the decision-making process. If naming your decision is part of that process, you can provide the outcome. But remember that you should focus on applying a tool/framework to a decision-making process, and most of your paper should be focused on the application of that tool in the decision-making process. There is no minimum requirement of number of tools/frameworks to use. You must use what is relevant to the case you are analysing.

Assessment 2: Decision-making in a business scenario

Summary: Students will be required to apply the business concepts that were covered in lectures (Weeks 1 to 4) to a business decison-making scenario. Additional research will be necessary to complete the task. The (first) online modules ��Critical Thinking for Business’ may also prove useful.

Task: Students will be required to apply business concepts, tools and decision-making traps (from Week’s 1 to 4) to a decision-making process. Students will choose one decision-making scenario from three provided via Blackboard in Week 1. The decision-making scenario should be examined using the range of business concepts, tools and decision-making traps from lectures as well as business concepts gleaned from additional research.

You are required to (a) start with the brief description of your chosen scenario, (b) describe the decision-making process in the scenario, using concepts and tools introduced in lectures, as well as any other business concepts derived from additional research and (c) outline at least one decision making trap that may occur during the decision-making process.

Length: 1200 words

Weight: 25%
Format: Students should use the template provided (posted on Blackboard) to structure their assessment.

Submission: On Blackboard via Turnitin.
Assessment Criteria

> Apply business concepts and tools to a decision making scenario

> Use business concepts, tools and decision-making traps from lectures (Weeks 1 to 4)

> Undertake additional research in order to include further, relevant business concepts

> Demonstrate an ability to synthesise lecture material and to carry out additional research on a business situation

> Use an academic writing style **Reference sources by using the BSRG. Not doing so will incur a penalty.

Concepts, tools, traps covered in weeks 1 – 4:

· SWOT, PESTLE, Porters 5 forces
· DM tools
· Individual biases
· DM traps
· Group decision-making

>> DECISION-MAKING SCENARIOS – choose ONE of the following case studies:
Case study #1

Decision: Due to a series of mergers across the paper manufacturing industry over the last 10 years, and rapidly declining demand for newsprint and paper products, head office has advised senior management at a manufacturing plant that it must gradually lay off its workforce of 1,500 employees over the next 3 years. You are the General Manager of the plant. What are the main issues you need to consider in managing the shut down?

Context:
Who is involved?
1,500 employees, where 90% (1,350 employees) are involved in the production process. The remaining 10% of your workforce is made up of management, supervisors and administrative and support staff.

What is the product manufactured?
The plant produces pulp and transforms it in to a specific type of newsprint which is sold to a major Australian print media company.

Where is the plant?
The plant is located in a small regional town in NSW. It is the primary industry in the town, where it is estimated that 85% of families in the town depend on the plant as an employer.

When does the decision need to be implemented?
The workforce of 1500 staff needs to be reduced by one-third (to 1000 staff) by the end of year one, reduced by two-thirds (to 500 staff) by the end of year two, and the shut down and lay off of all staff must be implemented by the end of year three.

Case study #2

Decision: As a leader in the sporting apparel business, this company has enjoyed many years of success with its products focused on sports with most popularity in the United States – basketball, baseball and American football. Having reached the limits of growth by focusing on these sports, the company is looking to expand to new markets by producing apparel for different sports. You are the CEO of this company. How will you decide on the markets to expand to? How will you ensure success of this new business development?

Context:
Who is involved in the decision making?
A team of senior executives, made up of the VP of Sales, VP of Marketing and VP of Product Development will be looking to you as CEO to guide them through this decision-making process.

What products does the company produce and sell?
Performance sports wear and equipment, as well as branded, non-performance, wear.

Where does the company currently operate?
The company is headquartered in the United States, with an all-American senior executive team. It has 4 regional headquarters representing the Americas, Africa and the Middle East, Europe and Asia and the Pacific. Its products are sold globally.

When does the company wish to expand?
The expansion project is to be completed within 12 months. You expect to see returns on this expansion within 2 years of launching.

Case study #3

Decision: The rapidly-changing social media market means companies need to be continuously looking for ways to remain competitive and relevant. As the co-founder of a social media company, you have decided that the best way to remain competitive and to expand your user base is to develop strategic alliances with other social media companies. You want to trial this with a first strategic alliance. How will you decide who to partner with? What characteristics will you seek in a suitable partner company?

Context:
Who is involved in the decision making?
Two co-founders, as well as the VP of Product Development for your company.

What services does the company provide?
You provide a social-networking and micro-blogging website with 100 million registered users.

Where does the company currently operate?
Registered users are across the globe, with most registered users in south-east Asia.

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