Sample MGT602 Business Decision Analytics Report

MGT602 Business Decision Analytics Report Sample

Context:

Fast changing workplaces call for greater flexibility in the ways individuals and work teams make and implement decisions. Alongside the increasing rate of change are the demands for better decision making through understanding and mitigating personal preferences and biases.

This assessment has been designed to:

- Appraise your ability to research academic literature on decision making. You are expected to utilise the literature provided in Modules 1 and 2 as a foundation that guides your further academic research.

- Select and evaluate the usefulness of a range of decision-making tools and reflect on levels of rationality and intuition utilised during the decision-making process.

- Compare, contrast and critically evaluate sources of data as influences in the decision-making context

- Identify the relevant sources of influence and limitations in your decision-decision making process.

MGT602 Assessment 1 writing guidelines:

This assessment draws on learning activities and resources from Modules 1 and 2. It is designed for you to engage in the decision-making process and then reflectively analyse your decision-making process using only theories and concepts from the Business Decision Analytics course (MGT602).

You should include in your reflective report:

- The decision-making problem detailed by your learning facilitator

- Analysis of your decision-making preferences (see activity Module 1)

- Analysis and influence of your personality traits and the impact on your decision-making

- Details of the sources of data collected during the decision-making process and how this data was evaluated/analysed

- Analysis of the decision-making process using any of the models discussed in Modules 1 and 2 plus any of your further relevant readings

- Analysis of written feedback from at least 2 other people on your decision-making process in the topicnominated by your Learning Facilitator

- Visual interpretation of data / trends/ patterns

- As a reflective analysis you will present your analysis in the first person.

Solution

Introduction

The aim of the reflective report is to provide a critical understanding on the concept of decision making process, and its ability to affect the organizational setting. The article, takes into effective consideration the concept of making decisions based on business needs and effective demand within a particular situation. For Assignment Help, These decisions were made of the personality traits as well as logic, balance and intuition, which has been significant in the process of the reflective report during the aspect of the research. It will comprise of the decision making theories, such as rational bounded and so on. The structure of the research, will critique and analyze the relevant sources, significant to the process of the research.

Analysis and Evaluation

Concept of decision making problem

Decision making is an important component while working within an organization and holding an imperative position within the company. It is important to note, that most of the mangers undertake decisions, based on growth and productivity of the company. Considering the modules, 1 and 2, I have been able to analyse my abilities and practical approach. I will exploring the essence of decision making, which is significant for the process of the research, in an appropriate manner. I was faced with an inability to make rational decisions. This has been one of the major problems, which have affected my major interactions, within the business. I will be discussing some major models, which can be taken into consideration for the process of the research, in a better manner.

Analysis of decision making preferences

I have undertaken an online test on balance, logic and intuition, for the completion of the assessment. I am an achiever and have been able to complete most of the delegated tasks, that were provided by the University. I have been able to improve and enhance my overall perception, which has brought in a better and nuanced understanding of the wellness of the decisions, and performances which are integral for the process. The reflective subject has helped me to comprehend the role of intuition and rational thought process, in the development of cognitive abilities. It has been effective in the significant to note, that integration of decision and logic, can enhance the aspect of workplace behaviour and boost the growth and productivity of the business, in a better manner. Workplace behaviour is essential in the development and integration of factors, that are necessary for boosting the abilities, that can help the achievers to understand the role of working via a schedule.

Analysis and impact of personality traits on sound decision making

The personality traits of the individuals are useful in the development of the workplace behavior. It is important to note, that managers tend to make decisions, made on situations and the overall crisis. My online tests revealed that I have low intuition and low balance. Intuition is an important aspect of the workplace decisions, as it involves the use of emotional intelligence, which is significant for improving the overall personal aspects, which are related to the research. I am able to exercise my knowledge regarding management and the aspect of critical negotiation, analyzing my biases, which is integral for the process of the research, in an effective and authentic manner. It is integral to note, that the major personality traits that are in relation to the research, are discussed for a better and effective understanding of the processes, that are vital in boosting the role of confidence and risk taking abilities, that are integral to the development of the research. The personality traits, has been effective in development of reading modules, that are effective for the process of growth and management of decision. It boosts employability skills, which is an integral aspect of improving the personality and traits, that affect the process of decision making within the workplace.

Data collection sources and analysis

I have collected the data through online resources, as they have helped me to understand the significance of the models, and also relate to my traits and personality. I am an achiever in the field of employment and tend to have an imperative role in boosting the overall functioning of the research. I have collected the sources, through an online test, which helped me to comprehend the significance of taking decisions, based on situations, and utilizing the authentic framework, which is further important for the process of the research, in an appropriate manner. The analysis has led me to believe, that I should focus on the development of my skills, in relation to the changing demands of the workplace system (Akinici & Sadler-Smith 2012).

It has been credible and effective to understand the source and the importance of information based on the role of processing information, which is integral in order to pertain to the development of certain decisions based on the possible understanding of management and its major requirement within the workplaces. The modules 1 and 2 have been effective in adhering to the aim and the objectives, which were interlinked to the process of the online resources. There were a host of journals that focused on the significance of the research.

Decision making models

I have decided to base my understanding based on the decision making models, which is significant for the process of the research. I will adhere to the concept of rational decision making process, which is significant for the process of the research. It is important to note, that I make decisions based on the reality and the factors that motivate my positive thinking, which is an integral part of the research (Balakrishnan et al ., 2017). The rational decision making process involves acknowledging the situations, that have an influence over the development of the organizational settings. I have been able to relate to the decision making model as it has allowed me to understand the importance of acclimating to the changing needs and perspectives of the research. The rational decision making model is effective during all times of important decision. It has the ability of understanding the role of natural situations and circumstances, that are vital for the process, of the research and objectives. The components of the rational decision-making model can be shown as below:

Figure 1: Components of the rational decision-making model

I use the elements of the concerned model especially when situations or critical scenarios arise. This model helps me in identification of the problems or the areas of concern that are to be targeted and based on the same I try to find the options that I have for solving the concerned problem. Based on the same I also try to identify the most prospective and effective solutions and generate alternatives for the same. After evaluation of the concerned alternatives the concerned model can be seen to be help me in the choice of the best alternative or solution to the concerned model. Thus, the different sequential elements of the concerned model are incorporated in the decision-making process of my management operations and also in other aspects of my life.

The second model, which should be taken into consideration, is the dual processing models. It is important to understand that the concept of the dual processing model, involves the use of biased intuition and cognitive powers, which have an impact over the individual (Whaley, 2000). As per my reports, I am unable to function without empathy, which further affects my overall thinking process. My decisions, in the field of management have been based on the development of thinking and critiquing a situation, with two brains mainly analytical and intuitive. There are two systems, to it, which undertake the use of logic for boosting the overall integrity of the research over the functioning of the models (Maheshwari, 2015). In critical review of the models, I am of the opinion, that I tend to make decisions based on dual processing mode. It helps me to acknowledge the situation and understand the depth of the situation. It has been integral in development of an intuitive field, which is significant in integrating and enhancing the overall outlook of the research, in a better manner.

Written feedback

Based on the aspect of intuition and rationality, I have been able to analyze, that I tend to base most of my decision, after the process of critical thinking. It is integral to note, that I am able to comprehend the insights that were essential for the purpose of the research. It is integral to note, that the research is based on the development of the decisions, that I had undertaken during my University program and degree. I am confident in making critical assessments, that are natural for the development of traits, that are useful for the integration of vital patterns, which are significant for the process of the research, in a better and authentic manner. I also believe that I will be most effectively working in administrative roles and also in management operations in the real companies after completion of my studies. I have an inclination towards decision-making and problem-solving and I also have acceptance towards change, new information and opinions. I have also realized that I inherently have effective communication qualities which I believe are of immense importance for the managerial and administrative roles especially in multidisciplinary teams. I intend to work in this domain and my area of interest is the banking and the finance industry as it is a considerably dynamic as well as globally prospective and growing industry in contemporary period.

Visual Interpretation

The visual interpretation using the online tests helped me to understand my role and capabilities, as an individual. The modules have helped me to comprehend the aspect of decision making preferences, which are significant in the development of authenticity in the process and development of better skills. Based on the modules, most of my decisions are based off on the development of emotions, that affect my intuition and rational powers. AS per the online tests, that point out my inability to express thoughts and opinions, based on the aspect of bounded capabilities, and growth as an individual within the reflective report (Olden & Patterson 2000).

Conclusion

It is imperative to undertake rational and sound judgments based on a better knowledge of making useful decisions based on rationality and intuition. It has provided, an accurate understanding of the aspects that are interconnected to the development of the hypothesis, which is interlinked, to the process of the research, in an appropriate manner. It is essential to note, that the feedback has been essential in the acknowledgment of the major biases, that affected my overall decision ,making process and progress. It has been useful in the development of a sound knowledge with concerning to personality traits and factors, that affect my overall ability.

References