Decision-Making in Organization

Running head: DECISION-MAKING
Business Decision Analytics
Student’s Name:
Institution:

DECISION MAKING IN ORGANIZATION 2
Table of Contents
Executive Summary.........................................................................................................................3
1.0 Introduction................................................................................................................................3
2.0 The Organization-the Problem..................................................................................................4
3.0 The Research Question..............................................................................................................4
4.0 The Decision Making Framework.............................................................................................5
4.1 Individual and Group Decision-Making................................................................................5
4.2 Business analytics..................................................................................................................6
4.2.1 Usage of Data Analytics..................................................................................................6
4.3 Influence of Bias in Effective Decision-Making...................................................................6
4.3.1 Ways to Overcome Biases for Better Decisions.............................................................7
4.4 Tools for Decision Making....................................................................................................8
4.4.1 Market Research..............................................................................................................9
4.4.2 Decision Matrix...............................................................................................................9
4.4.3 Pareto Analysis..............................................................................................................10
5.0 Methods...................................................................................................................................11
6.0 Discussion................................................................................................................................11
7.0 Recommendation.....................................................................................................................12
8.0 Conclusion...............................................................................................................................13
References......................................................................................................................................14

DECISION MAKING IN ORGANIZATION 3
Executive Summary
In every business, the decision is critical for competition. Many organizations encounter
problems in making the best decisions. In order to solve this, the research concentrated on
looking at the best decision-making approach in Torrens University, the uses of data analytics in
an organization, the influence of bias in effective decision making and the importance of
decision-making tools with the aim of settling at three tools used in decision making. The
empirical approach is employed augmented by explanatory research design. It is established and
recommended that the best method to use in decision-making is group decision making, data
analytics play a big role in making good decisions, and biases are crucial in arriving at solid
decisions. Additionally, there are many decision-making tools to be employed in making a
proper decision. The investigation examines the research method, decision matrix, and Pareto
matrix. The choices of these tools depend on the need and the type of decision. Many tools can
be combined to come up with valid decisions.
1.0 Introduction
In modern management, decision-making has become an integral component where
rationality is the function of administration. People under control come up with decisions either
subconsciously or consciously and in most cases meet a dead end which makes many firms fail
to compete. In the competitive market, the business strives to come up with the best choices that
put their business in the limelight of success. Even though this is the case, many organizations
face challenges of getting the best choices among the alternatives. It is with this view that the
investigation strives to come up with the solution of ensuring that an organization arrives at best
choices. A number of deliverables get considered though empirical and explanatory research.

DECISION MAKING IN ORGANIZATION 4
2.0 The Organization-the Problem
Decisions play an essential role in the success of an organization and success depend on
how the decisions are realized so that there are quality and in-line with the company’s aims and
objectives. The problem that rises is that there are many corporations small and big face the issue
of getting the best quality decisions for the betterment of their businesses. The research is based
on Torrens University and the reason for selected the study area is that decisions making
processes take place. The researcher found it good to carry out the investigation so that the
findings established will be used for improving decision making procedures at the University.
The research is going to examining decision making through the lens of empirical investigation
where explanatory design gets employed. Since this is a wide area, for simplicity and
comprehension, the researcher detailed the research questions that we strive to unearth the
solution for better decision-making approaches in organizations. The literature on individual and
group decision-making, business analytics, the influence of bias in effective decision-making,
and tools for decision making is done, methods of answering the research questions get
elucidated, make discussion, recommendations and in the end give a conclusion.
3.0 The Research Question
1. What is the best decision making approach in the organization
2. What are the uses of data analytics in the organization?
3. What is the Influence of bias in effective decision making?
4. What is the importance of decision making tools?