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Analytical Thinking AND Decision Making Assignment

   

Added on  2020-10-23

7 Pages987 Words331 Views
ANALYTICALTHINKING AND DECISIONMAKING

Table of ContentsQUESTION 2..................................................................................................................................1Identification of decision problems related to work....................................................................1REFERENCES................................................................................................................................4

QUESTION 2Challenges faced by UWS technical services UWS Technical services is a company which helps in providing technological solutions toits clients with the help of software. Audience Response Systems (ARS), is one of thetechnology that is offered by it which helps in providing equipment for higher education acrossthe globe. The current issue that any organization is continually facing these days is related tolack of availability of appropriate technology so as to serve the requirements of customers. It isdue to this; the organization is facing difficulty in development of applications and web basedfunctionality. However, the decision-making issue that it has been facing is that whether it willbe beneficial and feasible for organization to opt for enhanced technology or not (Schmoldt andet.al., 2013). Adoption of new technology can help in better development of capabilities and canplay an important role in development of products as well. There are two option s that areavailable in front of the organization. These are Software A which involved 100% certainty thatthey will be able to serve all the requirements of customers. Other is Software B which has lowerdevelopment cost, but the success rate through it is also lower. The first objective behind technological expansion is to increase customer reach andthereby revenue of the organization. However, if the company may not be able to generateadequate amount of revenues out of investment being made, it will be quite difficult for it tomeet the requirements of cost being offered (Schmoldt and et.al., 2013). Further, another issue isit can increase overall expenses of organization in comparison to overall revenue that may begenerated out of technological advancements. In this scenario, there are higher chances that theorganization ends up incurring loss if it opts for Software A, which is costly in nature. Group decision theory can be adopted by the organization where all the available solutionswill be analysed by the management and best suited, as per the situation of the company, will beimplemented so as to generate best possible outcomes out of it. Marketing plan that can be initiated for UWS technical can be prepared in the followingmanner:ObjectivesPlanMarketing objectivesTo increase customer reach by 20% andthereby revenue of the organizationTo increase overall market share by 10%1

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