(solved) Essay on Business Decision Making
15 Pages5273 Words86 Views
Added on 2020-07-22
(solved) Essay on Business Decision Making
Added on 2020-07-22
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BUSINESS DECISIONMAKING
Table of ContentsINTRODUCTION...........................................................................................................................1PART A: DECISION DOCUMENT...............................................................................................1PART B: EVALUATION OF THE GROUP DISCUSSION.........................................................6CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONBusiness decision making is a concept which helps to analyse and understandbehavioural, psychological and systems subject to effective decision making. It works as amotivational factor for managers in order to run business operations and management in rightdirection (Cosgrove and Rijsberman, 2014). This report is prepared to analyse business decisionmaking process in an organisational context and apart form it analytical approaches for effectivedecision making also defined in business context. Organisational theories and psychologicalinsights in to business decision making is tried to understand by practical overview. Quantitative element of the subject is defined in another context subject to elaborate thedimensions of decision making approach and management tactics. Both the behavioural sectionand quantitative section are covered with two board areas such as decision analysis and projectnetworks. Decision making is done subject to mid southern hospitals NHS trust analysed in thiscontext.PART A: DECISION DOCUMENTA decision document is a statement which contains the details and summary ofinvestment plans, business proposals and business expansion plans. It may be prepared in boththe forms such as formal or informal way. This helps to break from the process and build up thecapacity to take initiative for better growth and plans. This is considered an essential tool foracquiring the status about a recent program and project initiative. Important decisions andinvestment plans are prepared on the basis of sorting out complex situations.It provides a clear vision and align efforts in the direction of evaluating profit andbuilding the credibility of business for better growth and development. Decision document isprepared and aligned subject to prepare a bid to build a hospital for the Mid Southern HospitalsNHS trust. For accessing the above subject a decision document will be prepared as per abovedirection which is defined as follows:Aligning key stake holders at present business situation and status, issues which areassociated with the problemsSuggest possible options which are beneficial for assessing the task requirements andprojects (Crowfoot and Wondolleck, 2012).Analysing the risk factors and preparing strategies as an aid to risk1
Documents at which decisions are made Providing accountability and credibility subject to drive support to decision makingprocess.Mid southern hospital provides health and care services in the UK and wants to explorethe management and operations at further places in the UK. For the above subject managers andcommittee decided to analyse the expansion plan at further place. There is an analysis donesubject to analyse expansion plan (Fassin and Buelens, 2011). There are some essential or keyfactors need to analysed for better evaluation of plan. Decision making plan is prepared foranalysing the business plan for better growth and development. Following aspects need to beconsider while preparing decision document which are as follows;Find out the best location in this district to locate hospitalNHS is the organisation which was formed to provide health and care solutions andservices to the people of the UK. It was a major issue and subject in terms of enhancing thescope and credibility of sources for better growth and development of health care sector. NHS isa trust under which many health and care services and hospitals are working. It operates andsupervise the actions of these hospitals.Southern heights is one of the emerging destination which is increasing day by day inrespect of health care sectors. Various emergency departments and health care centres are madein the UK which provides health and social care services with in the UK. There are somepotential sites are defined in this context subject to set up the image of new hospital. Maindestinations are as follows:Potential site A: Old Colliery: this site is located in the east of southern district. One ofthe drawback of this site is requirement of huge investment for cleaning up the wards with acuteand concentrated deprivation. Utilisation of high investment amount will be reduce the rate ofreturn on investments in near future. This site has some basis problems and issues are associatedlike infrastructure needs, cost of acquiring extra furniture and arrangement of chemical dubs toclean the garbage and scrap.Transportation is one of the major problem which may occurs problems subject totravelling from the west of the district (Ford and Richardson, 2013). Location is one of the majorissue which is majorly associated with supplying goods and supplements at locations. This sitewas the part of industries of coal, steel, glass and chemicals due to which many unhealthy and2
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