Analytical Thinking and Decision Making Report for MSU Students

This report delves into the realm of decision-making processes, focusing on analytical thinking and strategic problem-solving within an organizational context. The report commences with a comprehensive introduction to decision-making, emphasizing its critical role in organizational success and outlining the steps involved in effective decision-making. It then presents a case study centered on the Management and Science University (MSU) in Malaysia, highlighting the challenges associated with student accommodation. The core of the report involves applying the Simple Multi-Attribute Rating Technique (SMART) to analyze the accommodation issue, assessing various alternatives and their potential impacts. The report systematically identifies the objectives, evaluates the available options, and provides a structured framework for decision-making, aiming to enhance the efficiency and effectiveness of the decision-making process within the university. The conclusion summarizes the key findings and implications of the analysis.

ANALYTICAL THINKING
AND DECISION MAKING

Table of Contents
INTRODUCTION...........................................................................................................................1
QUESTION 1...................................................................................................................................1
QUESTION 2...................................................................................................................................4
QUESTION 3...................................................................................................................................5
QUESTION 4...................................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Decision making is an important aspect of dealing with any of the problem or condition
existing in the firm efficiently. This involves a systemised procedure of decision making with
helps of multiple attributes of an issue of problem. In this particular report various aspects of
SMART technique is used to analyse the appropriateness of decision is taken in count. This also
defined the problem faced by the Management and Science University of lacking
accommodation facility in Malaysia which can be resolved by various approaches of decision
making efficiently (Appelt and et. al., 2011). This report studies about the heuristic approach of
dealing with the problem and Smart approach helps in ranking the alternatives available to the
organisation to deal with issues confidently.
QUESTION 1
Decision making can be defined as a series of activities forming a process of deciding
some of actions or plans about something important. Process of decision making is specially
being followed in groups or organisation to take important decisions appropriately and
effectively.
Decision making is present at every stages of hierarchy in every operations of
organisation. The management process of a firm is incomplete without the decision making as
these decisions and action plans leads to an organisation one step forward in path of success.
Every decision taken by the management people at every step of functions is only for best
interests of working business firm. Decisions making process and resources of the higher
management are the influencing factors in organisation environment which may leads to firm to
higher success or it may leads to downfall for a business.
Decision making process is critical for organisation growth and development. His
involves various management processes to come up with profitable decision in working
environment of firm. The decision making process is vital for allocating available resources to
workforce and effective utilisation of resources within the working environment of firm. The
various resource of a firm can be defined as human resources available in entity, supply,
functional funds available, accessible machines and materials along with various system and
marketplace of a firm (Betsch and Glöckner, 2010). The above mentioned resources should be
utilised with an approach of making efficient and appropriate and accurate decisions related with
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utilisation of these respective resources in order to accomplishing organisation success goals
efficiently. Continuous responsiveness of management executives in nature in implementing
decision making process which will ultimately help in enhancing the effectiveness as well as
confidence level of organisation in dealing with daily issues and challenges faced by firm. The
accurate decision making helps in resolving various issues and problems faced by firm in their
working environment (Schmoldt, and et. al., 2013). This process also helps in achieving
organisation objectives as well as operational goals of firm. The decision made in organisation
whether it is a big decision or small judgement given by supervisor or team leader, all these
determination and judgements will contribute in enhancing growth of firm in many folds.
Decision making process helps in enhancing the planning skills of top level management
which helps in effective planning of the specific action when to be carried and what actions
should be planned out to deal with some problem. This decision making process helps in
defining the activities which should be carried out and which should not be practised.
Rational decision can be developed by this respective process with the integration of
human experiences and their judgements given in advance for developing a specific solutions
and results for the problems and issues (Bjørk and Hamilton, 2011). Appropriate follow up of a
systematised decision making process in the organisation working environment will lead to
increased performance standard as well as enhanced performance quality. Efficiency of firm can
be improved through reducing the various cost incurred in processes and making appropriate and
accurate decisions to resolve the problem of high costs. Through applying accurate decision at
right time an organisation can gain competitive advantage in marketplace which will helps in
developing good brand image and enhanced brand image in market. This will be a positive value
for the decision made by management and organisation. Decision investigation is a subject area
of finding out different options in terms of various values, risk and uncertainties existing in
working environment of any business firm. This respective process of decision making also leads
to reformation and developing structured framework in order to support and encourage the
management who are decision makers of firm and helps them to robust their present
determination and judgements.
Importance of decision making process
The decision making process is important for the organisation to accomplish all the
objectives faced by higher management in order to develop a success working firm in market
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(Daellenbach, McNickle and Dye, 2012). Some of the importance of decision making is that this
respective procedure helps in better utilisation of available resources in firm and helps in
allocating the resources to the workforce as per their different needs to work efficiently in
business environment. The decision making process also brings higher business growth and
accomplishing all the standard goals and objectives of firm and its operation. Decision making
and judgement from higher management of company helps in increasing efficiency of
workforces and bringing newer competencies in their actions. This decision making also
facilitates the implementation and application of newer innovation and helps in developing new
ideas. This also helps in motivation employees through making efficient decision for future
growth of their workforce.
Application of decision analysis tools involving multiple objectives
The decision making tools and techniques of its analysis are applicable in developing
efficient and accurate judgements for firm growth. These analysis tools can be applied in the
conditions of risk, challenge and uncertain events. Decision analysis and interpretation tool also
can be applied or utilised by higher management executive in business environment to deal with
the consequences of different problems or the previous decision made by management which
goes wrong. This analysis of the decision can be also applied in order to get knowledge about the
preferences of firm and the objectives of organisation (Dane, Rockmann and Pratt, 2012).
Graphical models are the analysis techniques which help in interpreting the effectiveness of
decision made for reacting towards the problems and issues with multiple objectives. The
influence diagram and decision tree can be important tool for analysing the accuracy of
judgements made by the top level management of company. The graphical methods are used in
making decision analysis for the problems with having multiple objectives and come up with the
solution of lower risk and higher profitability to optimising the situation.
Features of effective decision making
A good decision brings positivity in action and for the future growth of people as well as
organisation. The good decision made by higher management foster the newer opportunity in
marketplace and these judgements are replicable in nature i.e. is followed by other people too.
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Source 1 Maryam Taheri. 2016. Models of decision making
Illustration 1Features of decision making
Decision analysed can be applied in nature in order to bring appropriate changes in the
process to improve the decision. This helps in developing good performances in workplace. The
decision made by management is reviewed again and again to make corrective measures in the
process to identify various flaws which will bring in higher efficiency and effectiveness in
functions and performances too (Somech, 2010).
QUESTION 2
The decision problem outlined in this report is a business case of management and
Science university of Malaysia. The following university is facing problems of student
accommodation in Shah alam city which is involves multiple objectives related with cost and
benefits. This stated university is located in middle of Kuala Lumpur and klang in shah alam city
of Malaysia (Starcke and Brand, 2012). The institution has made an important decision while
planning for location of establishment. The respective institution is having a strategic location
selected by implementation of an effective and appropriate decision making process in practices.
MSU is having large numbers of students studying over there. About 5000 students come for
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registration in MSU every year and approximately 20000 students are already studying in sited
university. Every students and parents are considered about the accommodation amenities
available in the MSU and their prices and benefits as well as. The people are looking for good
quality services in the accommodation places for student within an affordable range of prices.
The parents and students are facing issues in accommodation facilities as the MSU is not
providing accommodation to students who are registered (Fenton‐O'Creevy and et. al., 2011).
The sited institution is only providing accommodation and food facilities to the students who
have scholarship receipts with them and entertained with scholarship facility on behalf of
university. There are condominiums present near the university but these condominiums are
small in area and not comfortable for students. There is no space in condominiums also as these
are already fully occupied with the students.
Decision making is an important process for analysing any of the multiple objectives
problems and come up with efficient planning and actions in practices. His process largely helps
in increasing the efficiency of selecting appropriate and profitable option between the two
situations. The MSU can develop a heuristic approach of decision making process as this will
provide better alternatives to top level management to deal with problems existing in working
environment of institution (Gregory and et. al., 2012). MSU can develop inbound
accommodation services to entertain their students efficiently or they can go for outsourcing
these facilities in order to provide satisfactory services to parents as well as students.
QUESTION 3
Simple Multiple attributes rating technique (SMART)
The Multiple attribute utility theory (MAUT) can be explained with the
implementation of Simple Multi attribute rating technique. This respective technique is
developed in order to analyse the efficiency of decision making process. This Simple Multi
attribute rating technique (SMART) is utilised in order to analyse the effectiveness and
appropriateness of the decision given for the multi objectives problems and issues faced by an
individual, group of people or by an organisation. This particular attribute can be applied above
discussed problem of students accommodation faced by Management and Science University.
Institution is not having accommodation facility for students which is a major issues faced by the
MSU adminsatration. They are engaged in making accurate decision of this particular multiple
objective problems with efficiently analysing the most appropriate alternatives available to the
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organisation by implementing SMART approach in their practices (Hacklin and Wallnöfer,
2012). This particular approach will help in identifying the effectiveness of defined decision
relevant with the existing situation of Medical and science university of Malaysia. The respective
Simple Multi Attribute Rating technique is implemented in MSU is discussed as follows to
actively respond towards the problems by making effective analysis o decision making process.
The various stages of SMART technique are described below.
STEP 1: Identification of individual or institution aiming to enhance their utilities
Multiple attribute utility theory can be applied to both individual decision making or for
the evolving accurate decision for pubic or any group or institution (Subramoniam, and et. al.,
2013). This approach is useful in rating the different objectives important in decision making
process. This describes the appropriate goals which are required to perform task on priority with
making efficient decision while selecting appropriate alternatives through implementing
SMART. In the above mentioned issue of MSU it is found that institution higher authority,
parents and students are facing problems with availability o accommodation facility in institution
premises. This problem has to be resolved by the higher management and science university of
Malaysia effective decision making process and obtaining multiple goals of existing problem
(Klein, 2011). So in this particular situation the MSU group is the institution who is aiming to
attain enhanced utilities through resolving problems by developing effective alternatives and
decision making process.
STEP 2: Stating existing issues or problems
The next step followed in the process of SMART analysis of decision process and the
problems is that identification of individual or group followed by selection or evaluation of
different problems and issues faced by group of people or working institution. Like for instance
in these particular problems of MSU university there is a major problem which is prevailing in
working environment of Management and Science University is lack of accommodation facility.
Students are suffering a lot because there is not having appropriate accommodation facility even
in nearby localities also. Parent and students are not able to look out accommodations place as
places advisable in nearby are apartments and condominiums which are very small in size and
are already fully occupied by the MSU students (Norman and Eva, 2010).
STEP 3: Identify various alternatives or newer options which are needed to be evaluated
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This is a step to identify the various opportunities available to the individual or
organisation in order to deal with the current problems existing in working environment. These
options should be evaluated effectively through multiple attribute ratting technique which
defined the alternatives weightage and value with comparison to other alternative. This will helps
in making efficient and profitable decisions through selecting best alternative for the situation. In
this respective situation of MSU Malaysia the issue of accommodation facilities availability can
be resolve through developing various alternatives by efficiently evaluating the situation by top
level management of institution (Parnell, Driscoll and Henderson, 2011). These problems can be
resolved by the management by finding out best possible options for the situation which can
helps in accomplishing all the multiple objectives of MSU accommodation facility.
STEP 4: Selection of real and measurable dimension of value for effective analysis of
alternatives
It is very much important to identify the alternatives which are realistic and have
measurable role in the solving issues in environment. While developing any decision the
management should take care of measurable values of each alternative. There is having multiple
goals which are to be achieved by development of a single decision for solving problem. Out of
which some are having significant measurable effect on the problems while others are having
low impact. Like SU Malaysia authority can reduce the various goals which are having less
dimension value for the resolving problems (Pearson, 2013). Edward proposed theory of multiple
utility who argued that it is not important that we should carry out a complete list of objectives.
The weightage and measurable value of specific alternative goals may have lees which need not
to be included in process of decision making. So, the authorities of MSU can go for limiting the
various alternatives with evaluating real and measurable weightage of dimensions in practical
environment.
STEP 5: Rank the evaluated dimension according to their importance for accomplishing
multiple objectives of facing issues and problem
Ranking can be an important and appropriate approach to finding out importance of
various objectives and alternatives in resolving the issues more efficiently. In case of decision
made by an single person individual this process can be an easy task and simple. As this only
requires ranking of goals and objective by an individual and selecting the most ranked aspect for
decision making process. While involving a group of people in decision making process and
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decision analysis of this process may take complex form. This involves discussion over the
issues and every individual has different prospective of dealing particular issues and evaluating a
different rank for various alternatives and prospective (Pettigrew, 2014). This can be followed by
final ranking of goals by evaluating the resolving ranking of involved members in group. This
method helps in better evaluation of problem with more voiced issues.
STEP 6: Develop a rating of dimension on the basis of their importance and preserving ratios
This approach of rating dimension can be important aspect for identifying the importance
and relative ratio for the various alternatives and objectives for solving the issues and problems
effectively. In this method of simple multi attribute of rating technique the different options are
assigned with the rates and then the most rated alternatives are selected for decision making
process. This is a process which helps in making accurate decision for solving particular issue.
This step helps in preserving the ratio of the problem efficiently. The MSU University higher
management can develop rating over the various alternatives and options to resolve the problems
of accommodation facility. They can go for choosing bets alternatives by evaluating these
options on basis of providing rating and reserving ratio to different aspects of decisions and
goals.
STEP 7: Add all the important weightage of dimensions and divide them by their summation.
This particular step of simple multi attribute rating technique helps in developing a
normalised dimension of decisions (Popil, 2011). This can be provided by adding the value and
weightage of all the dimensions of alternatives given by through relative ratings. Then dividing
the outcome value with the sum of all the total aspects available linked with the issue and
problems faced by the management and science university.
STEP 8: Evaluate location of each option which is analysed on every dimension of simple
multiple attribute rating technique.
Measurements are been categorised into the sets of objectives, subjective or these can be
defined as set of partially subjective. The evaluating the subjective dimensions of particular
alternatives or subjective and expert will rate the aspects and values on the scale of 0-100. The o
is given to the minimum measurable value of the alternative while 200 are assigned the value of
dimension for which there is maximum plausible value. In case of partially subjective and
partially objectives value of alternative dimensions there are objectives measures exists which
helps in estimating the final attainment value of the particular goals in practical environment
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(Provost and Fawcett, 2013). With helps of this particular step of SMART the MSU University
can come up with an accurate and efficient decision for solving the issues or problems of lack of
availability o location and accommodation facility for student in premises of Management and
Science University.
Sensitivity analysis is an approach of finding put relationship between the variables. This helps
in defining the relating coefficient of one alternative on another. This approach is efficient and
can be used by the MSU to evaluate the dependency of accommodation facility of students and
parent satisfaction to the registration of students with institution.
QUESTION 4
There are many aspects which define the strength and weakness of any of the approach used
by an individual. Every method has some of the advantage over others and also has limitations
too. The Simple multi attribute rating technique used in resolving the above mentioned issue of
accommodation facility in MSU is also having some disadvantage and advantage over other
approaches.
The various strengths to this approach are described as follows:
 This particular approach is having advantage over other approaches as this make an
effective analysis of various alternatives available to individual or organisation while
making any decision to solve the problems and issue prevailing in working environment.
 This approach provided a rating to the bets alternatives and helps in selecting the most
optimum decision to problems.
 This method also involves the ranking by expert which helps in evaluating the problem
and issues in more depth and helps in making an effective decision for the firm.
 This is an effective approach of decision analysis as this value and indicates the multiple
attribute by ranking method and discarding the less important aspect for accurate decision
making (Saaty and Peniwati, 2013).
The limitation to the simple multi attribute rating technique while using the utility theory of
Edwards can be defined as follows:
 This proves in an lengthy process and invokes complexity in following up this respective
methods of analysing the decision. So, this may involves many flaws in process and may
leads to inefficient decisions.
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 This process is time consuming as the management do not an efficient time to in dealing
with uncertainty and riskier situations. So, the management should be actively resolving
towards the problem. So, this approach may have limitation to implementation in practice
by MSU.
 This approach may come with many difficulties to execute as this follows an complex
steps to complete while selecting an appropriate alternatives for resolving issues or
problems (Schmoldt, and et. al., 2013).
CONCLUSION
From the above respective report this can be concluded that multiple attributes of utility
theory help in identifying the various aspects of selecting the issues effectively by evaluating
various objectives and alternatives options for the problems. This approach is followed by
implementation of simple multi attribute rating technique which involved the ranking the various
dimension of values and weightage to the problem options and alternatives defined by the higher
executives of the Management and Science institution resolve the problems of availability of
accommodation facility. From the above res it can be also concluded the firm should follow up
an effective decision making process in order to optimise the values and cist incurred in process.
With helps of effective decision making approach MSU institution can develop effective
accommodation services within the cost and quality constraints efficiently.
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