Reference no: EM133864316 , Length: word count:2000
Business Decision Analytics
Learning Outcome 1: Select and evaluate the usefulness of a range of decision- making tools and reflect on your decision-making styles and contrast with other styles to determine the respective levels of rationality and intuition utilised
Learning Outcome 2: Compare, contrast and critically evaluate sources of data as influences for decision-making in a range of business contexts
Learning Outcome 3: Examine and evaluate decision-making systems and techniques to engage group decisions and analyse how these can enhance sustainable outcomes
Learning Outcome 4: Critically examine emerging tools and technologies for decision making
Context:
Workplaces today are changing rapidly in parallel with rapid advances in technology and means of communication with teams separated by distance and time. We need to take into account not only time and space, but other elements of diversity to collaborate effectively for organisational outcomes. In such complex environments much can be learned by observing and analysing the decision-making process of business managers. This task requires you to select a decision you have observed in the work place that addresses the assessment topic provided and using MGT602 theory gained from Modules 1-6 on MyLearn, undertake a comprehensive critical analysis and evaluation of the decision maker and the decision-making process.
This assessment has been designed to:
Critically reflect on the application of key concepts and theories of MGT602 in the analysis of a decision from your current or previous workplace. In doing so, you MUST consider the meaningful work challenge or topic provided to you by the Learning Facilitator that you were involved in, or observed another person or persons make. If you do not have previous workplace management experience, then you must analyse the group decision-making processes undertaken by your team in Assessment task 2.
In successfully completing this assessment task you are to:
Evaluate the sources of data, and the use of data analytics to identify trends/ patterns that form the evidence for the decision-maker.
Show visualisation of the decision-making process, and analytics to support the decision making;
Select between three decision-making theories and concepts from within the subject modules and show their application in analyzing the decision. Evaluate how the decision would be the same/ different by using different theories or concepts.
Present the findings of your results in a business style report that includes clear headings to guide the reader and visualisation of the data sources/trends/ patterns, and is underpinned with evidence from relevant contemporary literature.
Reference according to the APA reference style guide
Report format
Cover Sheet: Every assessment should have a Torrens University Coversheet.
Executive summary: 150 words maximum. The executive summary is a summation of the report. Included are the case being analysed; the data and evidence collected; the theories used and associated conclusion; and the overall findings.
Table of contents.
Introduction: 200 words maximum. The introduction will present the reader with a clear and concise understanding of the following: 1. What is the report about; 2. What theories will be used; 3 Your concise conclusion; and 4 The structure of the submission
Analysis and evaluation: 1600 words maximum. In this section you will analyse and evaluate the decision-making process using selected theories and concepts from MGMT602.
Conclusion: 200 words maximum. In this section you will provide a concise summation of your analysis and conclusion(s).
References: A minimum of 10 academic references are required from seminal sources and books.