Business Decision Analytics

This document explores the challenges faced by organizations and the decision-making tools used to solve them. It focuses on Tesla, an automotive company, and discusses the importance of teamwork in decision-making. The document also covers data analytics, sources of data, and the rationale for using different decision-making tools.

Business Decision Analytics
MGT602 Business Decision Analytics
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Business Decision Analytics
Contents
Introduction...........................................................................................................................................3
Aims......................................................................................................................................................3
Scope.....................................................................................................................................................3
Research questions................................................................................................................................3
Team introduction with a summary of team diversity...........................................................................4
Literature review...................................................................................................................................4
Data analytics........................................................................................................................................6
Sources of data......................................................................................................................................7
Rationale for use....................................................................................................................................8
Analysis and interpretation....................................................................................................................8
Recommendations.................................................................................................................................9
Conclusion.............................................................................................................................................9
References...........................................................................................................................................11
Appendix.............................................................................................................................................13
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Business Decision Analytics
Introduction
Numbers of challenges are faced by the organisation for meeting the desired objectives in the
organisation. This makes the organisation take an adequate decision for the meeting the
challenges with the use of several decision-making tools in the organisation. The research is
based on Tesla, an automotive company found in California and specialized in manufacturing
of the electric car. The number of tools will be explained in the following literature that is
required in the organisation to be adopted for meeting the challenges. The requirement of
employees and making them work in a team will also be taken into consideration.
Aims
The aim of the study is to identify the challenges that take place in the organisation and the
decision-making tools that need to be adopted for solving the challenges. The study will help
out to find several decision-making tools that can be used in the organisation to find solutions
to the problems. This makes the management to take decisions that are beneficial for the
company and its productivity. This also makes the management to work in a team for finding
the necessary solution and increasing the productivity and performance of the employees in
the team.
Scope
The scope of the study is very wide as this helps in finding out solutions for the problems that
persist in the organisation. This also makes the use of different tools for the decision-
makingprocess that is required to be evaluated and considered in the organisation. This will
help the organisation to identify the number of problems that can take place in the company
in the future. This will make the organisation take decisions instantly for the problems that
arise to them. The decision needs to be taken in an effective and easy manner so that it could
be beneficial for the organisation in terms of productivity and revenue. The scope is wide in
respect of finding multiple solutions to the problem that takes place in the organisation.
Research questions
Primary question
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Business Decision Analytics
What are the different tools that are adopted by Tesla for making decisions??
Secondary Questions
 What is the basic problem that takes place in the organisation??
 What are the effect of decision making on the team building and their performance?
Team introduction with a summary of team diversity
In an organisation, several employees work for the welfare of the company and for the
achievement of objective and goals that are set by them. Employees are required to work in a
team so that they can work on the goals and objectives that are provided to them. Employees
work in an organisation come from different culture and background, so it becomes difficult
for the organisation to make them cooperate and make them work in a team. The employees
are made to respect the culture of each other so that they can work for the accomplishment of
the objective. This also helps in improving the communication among the team members that
will improve the coordination level in them (Mäkikangas, Aunola, Seppälä & Hakanen,
2016).
The diversity in the team takes place due to the unique qualities that exist in the individuals in
the team. The qualities of the individuals make him different from one another that create
difficulties in the coordination and cooperation in the team. This makes the employees
understand each other so that they can make the usage of different ideas for the formulation
of strategy. This also helps in making the team to develop the standards according to which
the objectives can be achieved that are set by Tesla. This also helps in increasing productivity
so that it can earn high revenue. This also helps in making effective decisions in the
organisation that are as per the situations. Numerous solutions can be given by the team
members for the problem that takes place in the organisation for the decision-making process
in the organisation (Karanges, Johnston, Beatson & Lings, 2015).
Literature review
As per the views of Salas, et al. (2017), the development of technology has made a drastic
change in the products and services that are produced by the organisation. The growth of the
organisation relies upon the usage of technologies and strategies that are used by it for
meeting the competition and satisfying the customers. In large organisations, the requirement
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Business Decision Analytics
of manpower is higher so that it can make a reduction in the workload and lead to the
effective utilisation of resources (Stanton & Baber, 2017). The employees are required to
work in a team so that it could meet the needs of the company. This also helps in meeting the
personal goals as well as the organisational goals. The recruitment of employees refers to the
optimal decision-making tactics that are required to be adopted in the organisation for the
effective contribution of employees. This makes the employees promote and produce a
product that can earn stability in the market.The other challenge that is faced by the
organisation in the promotion and launch of the product is a dynamic change in the
environment and preference of the customers. The changing trend in the market makes the
organisation face difficulties for them to launch products in the market and leads to face
losses. This makes Tesla adopt the effective decision-making practice so that it could meet
the challenges and desired objectives can be achieved.
In the view of Ellis (2018),the decision-making process required the evaluation of the
situation of the organisation as well as the market for deriving the best result. The decision
making authority is the key to the success of the organisation and make it to grow a wider
extent. The decision needs to be made with a clear vision and perspective so that it could lead
to proper usage of resources in the organisation. The leaders need to gather information from
different sources for taking the decision that is suitable for the organisation (Bush, Bell &
MiddleWood, 2019). A number of factors need to be evaluated and analysed so that it could
help in meeting the objective of Tesla and solve the challenges that take place to it. A number
of alternatives are available to the leader, and he has to decide the best option for the meeting
the objective and solving the challenge. The alternative or solution chosen by the leader
needs to be evaluated before implementing so that it could meet the deviations found in the
decision that will be taken in the organisation (Thorpe, 2016).
In the views of (Willis, Clarke & O'Connor, 2017). Decision making requires several tools
for making the derivation of best results and meeting the challenges. The market research is
required for the decision making as this will help in analysing the number of customers in the
organisation and competition in the market. This has been the best strategic tool for making
the effective and right decisions in the organisation. Another tool that can be used in the
organisation is the decision matrix tool that helps in finding the suitable decision that needs to
be taken with the best strategy implementation (Amanchukwu, Stanley & Ololube, 2015).
The swot analysis also helps in making and delivering the best decision in the organisation.
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Business Decision Analytics
This helps in finding out the strengths and weakness of the organisation so that improvement
could be made on both the side. This also helps in grabbing the opportunity that takes place in
a market that is the adoption of new technology for the production of new products in the
market. This will help in increasing the growth opportunity of the organisation and make it
expand in the market (Hallinger & Wang, 2015).
According to Mone & London, (2018), the recruitment of employees in the organisation
needs to be done as per the requirement of the organisation. The employees need to be hired
with respective qualifications and skills so that they can meet the objective of the
organisation. This is also required in the organisation so that it could make the employees to
use new technology that is required for meeting the competition. The stability could be
achieved with the high productivity by the employees and contribution in the organisation
(Cohen, 2017). The qualities of the individuals make him different from one another that
create difficulties in the coordination and cooperation in the team. This makes the employees
understand each other so that they can make the usage of different ideas for the formulation
of strategy. This also helps in making the team to develop the standards according to which
the objectives can be achieved that are set by Tesla (Miller and Blackler, 2017).
The employees are required to work in a team so that they can meet the goals of the
organisation by promoting the product in the market. Teamwork is required in the
organisation for effective use of resources and achievement of objective that is set by the
leader (Mason, 2017). This makes the employees have a number of ideas and solutions for
the challenges that arise to them. Therecruitment of employees is difficult with respect to age,
culture, religion, qualification and knowledge that is required for the organisation to meet its
criteria. This needs to be evaluated in the recruitment process as this will make the
organisation to hire those employees who can work in a team and make the launch of the
product in the market (Martin, 2015). The other challenge that is faced by the organisation in
the promotion and launch of the product is a dynamic change in the environment and
preference of the customers. The changing trend in the market makes the organisation face
difficulties for them to launch products in the market and leads to face losses. This makes
Tesla adopt the effective decision-making practice so that it could meet the challenges and
desired objectives can be achieved (Kim, Lin & Chen, 2016).
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Data analytics
The data analytics is a process that is adopted in the Tesla for the collection of data and
derivation of best results in it. The data I collected for the recruitment of employees in the
organisation for filling up the vacancies and making them have new ideas in the organisation.
The recruitment process is required in the organisation for the launching of new products in
the market. This requires the analyses of the market and its evaluation so that it could help in
meeting the necessities of the company and market. This also requiresthe formulation of
strategies that will help in grabbing the opportunity and making the company work for the
best outcome (Brannen, 2017).
For the production of new products in the market and the hiring of new employees in the
company, it is required to assess the requirements of the company. This makes the
organisation collect the data from the market regarding the requirement of products and the
profits that can be generated to this. This also helps in finding out the number of problems
that take place in the organisation for the production of product and recruitment process. The
data collected in the organisation needs to be evaluated so that proper actions could be taken
for making the decision regarding the problems (Taylor, et. al., 2015).
Sources of data
The data can be collected with the use of two methods that are the qualitative and quantitative
methods. This is the methods are used widely for the collection of data and information in the
project so that the best results could be ascertained or derived. Primary and secondary data
can be used for deriving the information so that it could meet the requirements. The data
extracted from the primary source are direct in nature and vital for the organisation as it is
directly taken out from the respondent (Padgett, 2016). A secondary source of data is the
information that is collected from the data that has already been published. The essential
information is gathered straightforwardly from the respondent. The information gathered
from the essential source is precise in nature as they are straightforwardly gotten from the
respondent. Then again, the optional information is gathered from the distributed articles and
diaries that are utilized in the exploration for determining the information and data (Nardi,
2018).
Subjective and quantitative techniques are much of the time and for the most part, utilized
strategies in the exploration as they make the determination and extraction of information in
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Business Decision Analytics
an exact way. The information gathered subjectively assesses the conclusion, thoughts that
are gotten from the technique. The technique isn't an organized way and gives the
information as presumptions and convictions. The quantitative technique helps in giving the
data in the numerical structure. The information is gathered in structure diagrams and tables
that utilize information. This assistance in showing the data in a manner that portrays the
development of association showcase in India with the number of rivals in it. Qualitative and
quantitative methods are used for extracting and gathering the data that can be used for the
launching of products in the market and hiring new employees in the organisation (Smith,
2015).
Rationale for use
The methods that are used in the organisation are useful for the organisation as this makes
them launch their product in the market. This also helps in finding out the ways that are
required in the organisation for hiring new people so that the launching of the product with
the use of new technology can be made. This is required in the business for collecting the
data regarding the use and need of technology for launching a new product. This will help in
meeting the challenge in the organisation in respect of the loss of information and lack of
knowledge for the technology. This will also help in meeting the competition that takes place
in the market with the new technology. The recruitment of employees in the organisation will
help in making the people work for the interest of the company. This will also find out the
analysis of the market by evaluating the needs of the customers and the market. This is
required in the organisation for the formulation of the strategy and making of the team in the
organisation. The methods will help in gathering the information regarding the requirement
of the recruitment of employees that should be as per the need of the company (Albrecht,
Bakker, Gruman, Macey & Saks, 2015). The launching of products is also analysed with
specific qualities that are required by the customers for high sales.
Analysis and interpretation
From the above-derived data, it is analysed that technology needs to adopted in the
organisation for the launching and producing a new product in the market. This makes Tesla
hire new employees in the market who carry the experience for the use of the new
technology. This carries the number of problems that need to be managed with effective
decision-making tactics. The employees in the organisation should be motivated and guided
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Business Decision Analytics
for the use of new technologies so that it could help in producing the relevant products and
services. This will help in meeting the challenge in the organisation in respect of the loss of
information and lack of knowledge for the technology. This will also help in meeting the
competition that takes place in the market with the new technology. The growth of the
organisation takes place with the use of new methods and technology that are used by the
competitive market (Al Mehrzi & Singh, 2016). The leaders in the Tesla needs to take an
effective and timely decision so that it could make its team to meet the objectives of the
company.
The data gathered makes the interpretation for the use of technology in the organisation that
will help in providing the best products and services to the customers. This also helps in
making the customers to make the effective use of employees so that they could meet the
obligation of the company and help in producing the product that is required by the
customers. This meets the challenges of the organisation that arise to it with the production of
products and the hiring of the required candidate in Tesla. As per the analyses of secondary
data to meet the completion in the market, the organisation is required to adopt the new
technology for the production of new products and services in the market. This is required by
the leader's os that it could make the employees work in a team so that the achievement of
objective could take place. This can only be achieved by making them be provided with
proper training, guidance and education (Karanges, Johnston, Beatson & Lings, 2015). This
will meet the challenges that take place in the organisation.
Recommendations
Tesla needs to evaluate and analyse the needs of the market and customers for the production
of new products and services in the market. This is required in the organisation so that it
could make its stake in the market for the achievement of its goals and objectives. The
employees need to be provided with proper training and education so that they could use the
new technology in the organisation. This will also help in improving communication skills
and make them work in a team. The diversity of the team and individuals will be managed
with the proper guidance and usage of technology. The leaders need to take a decision on the
basis of situations that are beneficial for them and should react positively. The decision taken
by the leader or manager affects the growth and success of the organisation directly.
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Conclusion
From the above research, it is evaluated the decision-making process affects the success of
the organisation. Decision making involves various factors that need to be taken into
consideration so that it could meet the objectives of the company. The number of decision-
making tools has been explained in the above literature that is required to identify the
solutions to the number of problems and challenges. The methods for collection of data have
also been explained briefly in the above part that is required for the collection of information
for the recruitment of employees. This makes the organisation meet the challenges that take
place in the organisation with effective decision-making practices.
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References
Al Mehrzi, N., & Singh, S. K. (2016). Competing through employee engagement: a proposed
framework. International Journal of Productivity and Performance
Management, 65(6), 831-843.
Albrecht, S. L., Bakker, A. B., Gruman, J. A., Macey, W. H., & Saks, A. M. (2015).
Employee engagement, human resource management practices and competitive
advantage: An integrated approach. Journal of Organizational Effectiveness: People
and Performance, 2(1), 7-35.
Amanchukwu, R. N., Stanley, G. J., & Ololube, N. P. (2015). A review of leadership theories,
principles and styles and their relevance to educational
management. Management, 5(1), 6-14.
Brannen, J. (2017). Mixing Methods: The Entry of Qualitative and Quantitative Approaches
into the Research Process. International Journal Of Social Research Methodology,
8(3),
Bush, T., Bell, L., & Middlewood, D. (Eds.). (2019). Principles of Educational Leadership &
Management. SAGE Publications Limited.
Cohen, E. (2017). Employee training and development. In CSR for HR (pp. 153-162).
Routledge.
Costa, P. L., Passos, A. M., & Bakker, A. B. (2015). Direct and contextual influence of team
conflict on team resources, teamwork engagement, and team performance.
Negotiation and Conflict Management Research, 8(4), 211-227.
Ellis, P. (2018). Leadership, management and team working in nursing. Learning Matters.
Hallinger, P., & Wang, W. C. (2015). Assessing instructional leadership with the principal
instructional management rating scale. Dordrecht: Springer.
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Karanges, E., Johnston, K., Beatson, A., & Lings, I. (2015). The influence of internal
communication on employee engagement: A pilot study. Public Relations
Review, 41(1), 129-131.
Kim, D.H., Lin, S.C. and Chen, T.C., (2016). Financial structure, firm size and industry
growth. International Review of Economics & Finance, 41, pp.23-39.
Mäkikangas, A., Aunola, K., Seppälä, P., & Hakanen, J. (2016). Work engagement–team
performance relationship: shared job crafting as a moderator. Journal of Occupational
and Organizational Psychology, 89(4), 772-790.
Martin, K.E., (2015). Ethical issues in the big data industry. MIS Quarterly Executive, 14,
p.2.
Mason, R.O., (2017). Four ethical issues of the information age. In Computer Ethics (pp. 41-
48). Routledge.
Miller, S. and Blackler, J., (2017). Ethical issues in policing. Routledge.
Mone, E. M., & London, M. (2018). Employee engagement through effective performance
management: A practical guide for managers. Routledge.
Nardi, P.M., (2018). Doing survey research: A guide to quantitative methods. Routledge.
Padgett, D.K., (2016). Qualitative methods in social work research (Vol. 36). Sage
Publications.
Salas, E., Prince, C., Baker, D.P. and Shrestha, L., (2017). Situation awareness in team
performance: Implications for measurement and training. In Situational
Awareness (pp. 63-76). Routledge.
Smith, J.A. ed., (2015). Qualitative psychology: A practical guide to research methods. Sage.
Stanton, N. A., & Baber, C. (2017). Modelling command and control: Event analysis of
systemic teamwork. CRC Press.
Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research
methods: A guidebook and resource. John Wiley & Sons.
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Thorpe, R. (2016). Gower handbook of leadership and management development. CRC
Press.
Willis, S., Clarke, S., & O'Connor, E. (2017). Contextualizing leadership: Transformational
leadership and Management‐By‐Exception‐Active in safety‐critical contexts. Journal
of Occupational and Organizational Psychology, 90(3), 281-305.
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Appendix
Matrix
Self 1 Participated in each activity for the derivation of the
result.
Member b 2 Lead to develop the standard for market research.
Member a 3 Recruitment of employees.
Member d 4 Ideas involvement.
Member c 5 Helps in strategy formulation.
The involvement of employees in the team is required to meet the goals of the organisation.
The motivation provided to the employees makes them participate in each and every activity
for the development of strategy in the organisation. I had to communicate with each and
every member of the organisation for the formulation of strategy so that decisions could be
made for the effective utilisation of strategies. As per my point of view, teamwork leads to a
high level of success in the organisation as a high contribution of ideas takes place that makes
the organisation formulate a strategy that are best for them. This also increases the
communication skills among the members which makes them improve the coordination so
that it could help in meeting the challenges that take would take place in the future. Each
member of the team has a diversified role that is as per his knowledge and field. This makes
the team establish its roles and standard as per the needs of the business and project. The pre-
defined objectives help in giving the best results to the people as well as help in earning high
value.
The team efforts are required in the project for its successful appearance as this helps in
getting the best results. The contribution of employees in the organisation and the team
makes them make decisions that are beneficial for the organisation as well as for the team.
The team needs to understand the culture of each other so that they can have effective
communication with each other and make them feel motivated. I make my team work in
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coordination and make them feel enthusiastic so that they can develop themselves and can
make the best use of their capabilities. Each role of the member makes him give his best for
the development of the business and make the organisation launch its product in the best way.
The effective communication and interaction of the employees make them understand the
needs of the customers and deliver the products and services that are required by the
customers. Member b has the approach of a good understanding of the evaluation of the
market so that it could understand the needs of the market and make the production of
products accordingly. This also helps in the formulation of a strategy that is required in the
company for meeting the competition. Member A makes the recruitment of employees in an
effective manner so that they can hire the people that are required in the organisation for the
production and launch of a product. Member D makes his high involvement in the generation
of new ideas as per the needs of the organisation so that it could make the employees give the
best to the customers and market. Member C helps in giving his opinion for the formation of
strategy that is as per the requirement of the market. The strategy could be made for the
development of products and services that are required in the market and customers.
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