Analytical thinking and decisions making : Assignment

Analytical Thinking and
Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK ..............................................................................................................................................1
1. Importance of decision making and apply the decision analysis.......................................1
2. Simple multi-attribute rating technique (SMART) ..........................................................3
Strength and limitation of analysis.........................................................................................5
3. Identification as well as outlining a decision problem related to Magic web solution ....6
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
This report is based on analytical thinking and decision making it is that approach where
leader and manager make the important decision at the same they also have the solid data or
information in hand. This style is more suited with intuitive leadership styles and in these
managers have to make decisions by using the intuitive or option. Decision making is an option
where we have to choose one among different alternatives. Magic web solution is the company
that helps the start-ups and organisation to successfully develop and launch the digital products
and web based software application. Now the company is launching the software vocus that
helps in acquire the customer. This report elaborates how decision making is important for the
and also apply the decision making tools.
TASK
1. Importance of decision making and apply the decision analysis.
Decision making is very important for the business weather it is small or big, decision
making process is being considered as the backbone for the business as it is very important for
the business to take the right decision at the right time so that they can perform well. As per the
view of (Hammond, Keeney and Raiffa, 2015) decision making is an organisation is based on
the information that is being presented as these are the information and the beliefs of decision
maker that are combined and it forms the information. All the managerial functions are related to
the planning, staffing, controlling, organising, Directing and they all are carried through the
process of decisions.
As per the opinion of (Frederiks, Stenner and Hobman, 2015) they further categorised the
decision making in two categories that is Programmed decision and Non-Programmed decision.
In programmed decision they are the routine and repetitive in nature that are under the
framework of organisation policies and rules. These policies are being formed in advance to
solve the problems that are of recurring nature in the organisation. Non programme decisions are
those decisions that are non routine in nature and deployed to sort out the non routine problems
as they have the feature that are relevant in solving the unique and at the same unusual problems
that arise in company but for these alternatives can not be decided in advance. Significance is
generally high for the non programme decision and such decision are being taken and decided by
the top level management.

As per the view of (Brown-Liburd, Issa and Lombardi, 2015) the importance of decision making
in management the organisation can utilise the resources in an efficient manner also face the
problem and challenges if there is proper floe of decision making. Quick and correct decision
making leads to use the resources in better way and that leads to the growth of the company.
Rational decisions always help the company to achieve all the objectives of they company
quickly even the decision making leads to facilitate the innovation and this helps in to develop
the new ideas, new products, new process and many more things. In short decision making is an
inseparable part for functions of management.
Decision analysis is a systematic, quantitative, and it is the visual approach to address and
evaluate the important choices that is being taken by the business. It can be used by the
individuals or it is an attempt to make the decisions related to the risk management, capital
investment and strategic business decisions.
Decision analysis tools
Decision matrix
This tool is used by the Magic Web Solutions for the evaluation of all the options among
all the decisions by using the decision matrix to create the table and include all the options in
first column and insert the factors that affects the decision is to be in first row. By this they will
give the score to each option and weigh which factors are of more importance. And after this
they will decide that which option is best among all. This will help the company to make the
right decision and also helps in analysis the decision that is best suitable for the company
(Erzurumlu and Erzurumlu, 2015).
Decision tree
It is the graph and model that involves in contemplating the option and the same also
evaluate the outcome of each option. As the statistical analysis is also conducted from these
technique. This helps the organisation in evaluation of decision at the same also find out the
outcome of decision with the help of this company can earn maximum profit and also their
software will become successful in market.
Pareto Analysis
this techniques is being used by the Magic Web Solutions when they have to take the
large number of decisions. This helps the company in giving the priorly that which decision
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should be made first and also find out the impact of each decision. As the company is making
the software it is very important to do the scaling of business.
Cost benefit Analysis
This method is being used at the time of weighing financial ramifications of all the
possible alternatives as it is the way to come up with the financial decision that make the most
sense from the perception of economic(Lerner and et.al., 2015).
Conjoint Analysis
this method is being adopted by the organisation while determining the preferences of the
consumer at the time of making the decision as the whole business is depends on the consumer
so it is very necessary to find out the preferences of consumers and give them the priority.
SWOT Analysis
It is very important for the company to do the analysis of SWOT and find out the
strength, weakness, opportunity and threat that improves the viability of the company and find
out the weakness that gives the risk to the company in future (Frederiks, Stenner and Hobman,
2015). It is one of the widely used tools in strategic planning.
PEST Analysis
It is an acronym for political, economical, social and technological factors that improve
the decision making and timing to analyse the external factors (Majumder, 2015). This method
helps in to predict the the future trends from the present trends.
2. Simple multi-attribute rating technique (SMART)
Simple multi-attribute rating technique (SMART)
Overview of analysis : objective of the company is to implement Vocus a marketing software.
The technique which is used by the company to analyse the implementation of the software to
the business is The company is going to introduce the new software in the organisation. But is
facing the difficulty to choose the best software for the organisation.
Identify alternative course of action : The company should be regularly aware of the
opportunities in the market. All the managers of the company should keep an eye on the
opportunities in the market.
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Identification of attributes : The company can use various attributes in order to compare the
software. In order to select the best alternative out of various the company should decide the
various attributes to measure the performance of the software and accordingly decide the best
software for the company. The various attributes are used to decide the software are correctness,
re usability, reliability, efficiency and portability.
Determining weight for each attributes :
 Correctness
 Efficiency
 Portability
 Reliability
 Re usability
For each of the attributes assign the weight in order to compare the software on the basis
of these attributes.
Make provisional decision : The behaviour of customer is changing rapidly. Therefore these
various software will help the company to identify the changing demands of the customer.
Sensitivity analysis : it is a technician which is used to determine the that how the independent
variable will affect the dependent variable under certain assumptions. This method is used by the
decision makers in order to understand the pros and cons of the decision taken.
Marketo : The marketo software is focused on providing account based marketing such
marketing through mobile, digital ads, social platforms and web management (Yassine and
Chelst, 2018. ).
Vocus : It is also a marketing software which help the marketers for the acquisition of customer.
The software gives various marketing tools such as search marketing, email marketing, and other
online media channel.
Hubspot : The software provides the tools for blogging, lead management and marketing
analytics.
Budget for implementation of various software :
Software Hubsport Marketo Vocus
Income
Funder
$ 70,000
$ 30,000
$ 50,000
$ 25,000
$ 40,000
$ 15,000
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Expenditure
Vehicle running
Implementation cost
Maintenance Cost
Training Cost
$ 40,000
$ 4,000
$ 20,000
$ 10,000
$ 50,000
$ 3,000
$15000
$ 5000
$ 35,000
$ 2000
$ 25000
$ 15000
Total 174000 148000 132000
Strength and limitation of analysis
Strength of decision making: the decision of the company regarding implementation of
the software is the right decision. The customer taste and preferences are changing rapid;y thus
making it hard for the companies to understand the trends and needs of the current market.
Customers are rapidly changing their preference, the advancement in the technology somehow
make it easier for the company to understand the current market. The various tools and
technologies can be used by the company in order to understand the current trends in the market.
The company's decision regarding selection of the software is the right decision. It will help the
company to identify the current trend and help the company to promote the product using various
platforms such as emails, social media and other online platform (Mahdy. and Bahaj, 2018). The
marketing software will help the company to promote its products to the various customers with
the help of different platforms. Implementation of software to the organisation will increase the
productivity of the organisation, decrease the costs by identifying the target audience. It will also
increase the efficiency of the organisation. The decision of the organisation regarding
implementation of the software will help the business to promote its products in a boarder
platform. It will also help the company to gain the competitive advantage. The software will also
ensure the security of the company's information.
Limitation of the decision The limitations of implementing the marketing software is that It
requires a high investment and maintenance cost. In order to implement the software in the
company, it has to incur lot of cost in order to train the employees of the organisation and IT
department to use the software. The company may require to take the help of other consultant in
order to train the employee of the organisation. The company may also require to adapt the new
hardware for the company in order to set the software. As the software is not easily accessible
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and everyone is not expert in operating the software, the company may find difficulty in the
implementation. It will also help the company to retain its existing customers. It will also
requires a participation of the users in order to analyse the friendliness of the user.
The implementation of new software will also affect the working of the organisation and
may hamper the working of the organisation. It will cause the tension among the working
condition. It will also create the bad environment in the organisation and can hamper the working
of the employees within the organisation. When the organisation implement new software within
the organisation it may affect the whole working condition. One of the major challenge that
occur while applying any marketing software in the company is that the deployment challenge.
As the software require the more technical skilled employees in the organisation. And to make
them skilled, company need to provide more effective and expensive training program for them.
This require the more cots for the software of the marketing (Chen, 2018.).
Having the poor strategies also become the challenge for the company. As if the company
have poor and weak strategies for their software, then the leaders do not understand the vision
and clear role and also the purpose of bring software ion the company. And the employees of the
marketing department can not take advantage from the software.
Another major challenge is that the marketing analytical skilled can be go wrong. One of
the mistakes that marketers do is restricting their analysis to the regular reports that are
accessible in their Marketing Automation tool. This result in a major setback in reporting and
analysing the main strategic measurements that brings maximum impact on the company.
3. Identification as well as outlining a decision problem related to Magic web solution
Decision making is considered to be as very much crucial as it can have great effect on
the firm performance in the market. Bring the new technological change in an enterprise can
bought set of challenges which can have significant influence the management decision related
to employment of specific IT or software system at workplace.
The Magic web solution company offers Web development services to professionals. In
addition to this, an enterprise also assist newly start up business venture in launching the digital
products. When an organisation started planning to launch the marketing software they have
conducted the market research and after analysing the findings they found the three marketing
software which can be utilised for improving the marketing activities these are marketo , vocus
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and Hub spot. Management in an enterprise is facing the issue related to the selection of the best
marketing software in order to assist newly start up ventures in achieving desired promotional
objectives (Akinci and Sadler‐Smith, 2018.). Management in an enterprise is facing such issue
as in digital world , customer behaviour is changing at very rapid rate. Due to the emergence of
advance technologies customers can communicate with firms through using different devices. In
addition to this, customers of Magic web solution company are expecting that business entity
will deliver high level of consistent as well as cross channel services. In context of Magic web
solution company , an enterprise in order to meet the expectations of an organisation need to
concentrate on efficient as well as streamlined procedure (Jarrahi, 2018). An enterprise is
required to develop the digital strategy, as it will assist them in delivering excellent, quick as
well as quality services to customers. But due to the continuous advancement in technology and
changes in the customer attribute as well as method of interacting with companies, firm is facing
the difficulty in development of an effective digital strategy. In context of Magic web solution
company, business entity emphasizes on increasing customer engagement as well as it will aid
in reducing communication costs. The main purpose of an enterprise is to increase 10 percent
sales and profitability within six months. Therefore, an enterprise has decided to implement the
marketing software. The issues which has been faced by management in business entity
regarding selection of the suitable marketing software is related to the identification of the
stakeholder group which will assist management in implementation of the software. In addition
to this, the other issue is computability issue. All three options discovered such as vocus,
marketo and hubspot, these software have quite similar features. In addition to this, there are
equal amount of risks are associated with them. Therefore, management has to face the issue in
selecting the best option .
After evaluating all the options, Magic web solution company has plan to implement
Vocus that is cloud based marketing software in order to help newly launch companies in
acquiring customers and providing newly start up business to reach out target customer group
through either social media as well as other Online media channels.
n addition to this, management in Magic web solution company is also facing the issue
in analysing the way to robust as well as resilient infrastructure which are required for
implementation of Vocus marketing software (Okoli and Watt, 2018). Business owner and
other stakeholders are also facing issue in determining the fundamental requirement for
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managing customer device fragmentation. Such issues in decision making related to
implementation of specific marketing software are faced by Magic web solution company due
increase in digital channels are highly dominated by way people seeks to engage with specific
brand. In addition to this, management in Magic web solution company is also facing the issue in
analysing the way and source of acquiring technical expertise which are required for
management as well as up gradation of marketing software (Tomlinson, 2018.). The
management in Magic web solution company is required to concentrate on customer experience
before making the decision related to implementation of specific marketing software. Business
entity is facing such issues in decision making due to continuous changes in the attitude of
people. It has been analysed that there has been continuous decrease in desktop terminals as well
as rise in use of mobile software as well as application by customers. Considering the costs as
well as risks associated with installation of marketing software, management in an organisation
is facing issue in making the decision related to the investment in specific marketing software
(Gallivan, Wolpert and Flanagan, 2018.). It is required by management in Magic web solution
company to concentrate on quality of services as well as customer experience while making the
decision related to the employment of specific marketing software as this tactics will assist
them in providing the high value as well as satisfaction to customer by implementation of
specific marketing software.
Management in Magic web solution company is highly confused related to the
implementation of new marketing software such as Vocus, as costs involved in implementation
of new infrastructure for installation of marketing software is too high. In context of Magic
web solution company, an organisation in order to achieve the desired objectives are required to
embeds digital strategy in their business procedure as it will assist them in generating the desired
results. Management in business entity is facing issue in Magic web solution company in
making the decision related to decision making procedure due to consideration of issue which
might occur in maintenance as well as operation of software that might take place due to rapid
advancement of technology. In addition to this, the other factors in digital world which has
highly influenced the decision making procedure are related to the implementation of Vocus
marketing software are continuous changes in business environment as well as participation of
divergent interest group. The other factors which has highly effected the decision taken by
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management in Magic web solution company related to implementation of the Voscus software
are availability of time, resources, knowledge about business environment etc.
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CONCLUSION
By summing up above report it has been concluded that an effective analytical thinking
and decision making will help Magic Web to sustain its brand image in market. Through the
report it has been concluded that there is a need to take better decision which helps a business to
run smoothly and also creates positive impact upon the company's brand image as well. In the
same way, report concluded that in this modern world, there is a need to adopt new and advance
technology into the working place so that it will help stay ahead in this competitive world. In the
similar way, report also concluded that by using Vocus, which is a marketing software that helps
to analyse different marketing techniques in better and effective way. Through the present study,
it has been further concluded that as Vocus may fails and at that time, the quoted firm should
used any alternative which is specifically prescribe in its Simple Multi- Attribute Rating system
in which it is to be recommended that it may use Marketo and HubSpot that helps a firm to keep
identify the needs and how to implement the advance technique in marketing as well.
Lastly, report concluded that sometimes it will be difficult to determine the taste of
customers and at that time, implementing new software will be more beneficial fro a firm to stay
ahead in this competitive era. That is why using marketing software can be consider as a strength
for a firm that will help a business for its smooth functioning, while on the other side, choosing
best out of many marketing software can be consider as a limitation of a project, which needs to
be overcome. So that it will help Magic web to sustain its brand image and take better decision
for the welfare of a firm as well.
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REFERENCES
Books and Journals:
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Jarrahi, M.H., 2018. Artificial intelligence and the future of work: human-AI symbiosis in
organizational decision making. Business Horizons. 61(4). pp.577-586.
Akinci, C. and Sadler‐Smith, E., 2018. Collective Intuition: Implications for Improved Decision
Making and Organizational Learning. British Journal of Management.
Tomlinson, S., 2018. Educational subnormality: A study in decision-making (Vol. 55).
Routledge.
Gallivan, J.P., Wolpert, D.M. and Flanagan, J.R., 2018. Decision-making in sensorimotor
control. Nature Reviews Neuroscience. pp.1.
Hammond, J.S., Keeney, R.L. and Raiffa, H., 2015. Smart choices: A practical guide to making
better decisions. Harvard Business Review Press.
Frederiks, E.R., Stenner, K. and Hobman, E.V., 2015. Household energy use: Applying
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Erzurumlu, S.S. and Erzurumlu, Y.O., 2015. Sustainable mining development with community
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Lerner, J.S., Li, Y., Valdesolo, P. and Kassam, K.S., 2015. Emotion and decision
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Majumder, M., 2015. Multi criteria decision making. In Impact of urbanization on water
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