Business Decision Making: Workplace Challenge Analysis Report

This report analyzes a workplace challenge faced by Monash University, focusing on the increasing operational costs. As the finance manager, the author identifies the problem, which includes a 40% rise in costs, and explores decision-making processes, tools, and theories to address it. The report highlights the importance of data collection and analysis, emphasizing both primary and secondary data sources, and presents a critical analysis of collaborative and competitive decision-making styles. The author proposes the implementation of an ERP system and discusses the visualization of the decision-making process and the application of tools such as GDDS, Decision Matrix, and NVivo. The report emphasizes the importance of trust, bias reduction, and the selection of appropriate decision-making tools to overcome the challenge and improve the university's financial performance.

Running Head: BUSINESS DECISION MAKING
Business Decision Making
Name of the Student:
Name of the University:
Author Note:

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Executive Summary
The following report is completely based upon the workplace challenge faced by the
organization Monash university, Melbourne where the key objective of the study is associated
with the process of identifying the workplace challenge faced by the organization under the area
of adopting sustainability and competitive advantage in their international operation. The core
issue which is highlighted in the respective report is related to the increase in the operational cost
of the organization up to the total range of 40%. The study gives more emphasis under the part of
identifying certain positive measures which can be implemented in order to overcome the issue
caused, through the process of adopting several decision-making tools and theories.

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Introduction
The functional aspect that is associated with the system of decision-making process is
considered to be the major part for the purpose of conducting any task associated with the
organization. It is considered to be a challenging part for the organization under the area of
applying the best and adaptive decision for the organization form the available ones. Inn the
respective report some of the core and major issues faced by the finance department of the
organization Monash University is considered to be the key part of discussion. The report is
presented on a reflective mode giving more focus on certain factors that are associated with the
system of group and individual decision-making function.
On the other the study also discusses about certain factors which effects the decision-
making function within the internal environment of the organization along with giving certain
ideas for reducing bias which is caused through the decision-making function within the
organization. Apart form these three major tools that are associated with the decision-making
function is considered to be the core part of the study and their application in the respective
scenario is also performed.
Problem Faced by the organization
Being the finance manager of Monash University, the core responsibility associated to me was in
the area of controlling and managing the funds. However, from past six months, I understood
that operation cost related associated with the university increased to the total range of 40%
(Lerner, Li, Valdesolo & Kassam, 2015). The respective issue was considered as part of
discussion in the meeting and the responsible board members were informed about this problem
caused. This discussion took a long time to finish, from which we were able to gather numerous

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ideas and solutions to overcome the respective issue caused. Being the head of the finance
department the major decision which is required to be adopted and made will be depended
completely on my part. Th decision making was finally settled after identifying several
techniques and tools of decision making which will best fit for the organization to perform
further.
Critical Analysis of Key Themes
Being the most responsible person of the finance department, I was very much ware that
the certain process that is associated with the function of decision making generally requires
more advanced data and solid facts. This can guide in the part of making appropriated decisions
on an instant basis for the organization. There can be numerous numbers of data available but
under this respective part the key focus must be to select the best and suitable one out of it. From
the available options available that are associated with the system of primary data collection and
secondary data, my option was to gather advance and appropriate mode of information using the
method of primary data sources.
Under this respective part I prepared certain questionnaires form my side and distributed
the same among the employees of the organization in order to understand their opinions
regarding the increase of the operating cost and certain factors that are associated with the same
(Kucharska, Grobler-Dębska, Gracel & Jagodziński, 2015, May). A single employee from each
department was selected as a part of gathering information regarding the rise of operational cost
and what was the core reason behind the respective factor.
From the major studies which was conducted from part, I was able to identify two major
decision-making style which will best fit for the organization to operate through the process of

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ensuring better utilization of their resources in the future. Apart for the two major style
associated with the decision-making asper the organizations current issue faced they must use
collaborative mode of decision making rather than giving more emphasis on competitive style of
decision-making function. Some of the major applications that are related to the respective
theory are mentioned below.

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Collaborative Decision-making Approach
As compared to the operational aspect that is associated with Monash university, making
adaptive implementation of collaborative approach of decision making can help them in the
place of developing rigid functional and inter functional bond through the process of
encouraging and adopting common goals among the departments in the area of making decisions
(Lerner, Li, Valdesolo & Kassam, 2015). According to the respective case decision making
function was conducted among the groups where the data was systematically collected and the
gathered information were discussed between the participants through meeting. As part of
solution to the respective issue caused, the major reason was associated with the rapid hike in the
service purchased and maintenance cost of the organization (Du, Zou, Shi & Zhao, 2018).
Through the respective part the decision committee of the organization decided to manage and
control maintenance cost and other extra unnecessary expenses.
The other beneficial part is that there are three major stages that are associated with the
system of collaborative decision-making function which generally involves control, orientation
and evaluation. Being the finance head my core responsibility through this respective approach
must be to build strong mode of trust factor among the employees which can enhance them to
work with more dedication and coordination. It is important for me to give more consideration
towards certain mode of bias which is caused within the internal environment of organization
which involves group think, social loafing, polarization and many other.
Certain issues that are associated with the negative performance of the employees also
can be part of causing wastage of organizational resources where as per Monash university this
can also be core reason behind the increasing operational cost (Kemp, Borders, Anaza &

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Johnston, 2018). According to me I feel that ERP system can be the better process which is
required to be implemented within the organization for the betterment of employees functioning
in order to remain more sustainable and competitive in the future.
Competitive Decision making
This respective function is generally seen among certain organizations which adopt
strong competitive strategies with peer organization in order to gain resources. This creates the
system of divisional and vertical grouping which helps under the area of bringing strong bond
between the organizations. Simply, under this it can be stared that the decision is adopted only
for the purpose of making organization more competitive. Under this the decisions made are
completely based and is depended upon secondary data sources which involves financial
statement, annual report etc.
The application of certain decision under this is dependent on flexibility of certain
process associated with value chain of the organization (Girodon, Monticolo, Bonjour & Perrier,
2015). As per the issue faced by Monash university, this mode of decision making is not
considered to be the most effective tool to be implemented. Operational issue faced by the
organization may not be simply solved by adopting the system of decision making which is
completely on a competitive basis.
Visualization of Decision-making Process and Analytics
Decision making function is considered to be the major part for the current and future
functional aspect of the organization. It is considered to be an important part that in case the
organization do not the required and desired structure, this may generally lead to serious

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consequences and discrepancies in the future. The process along with some major visualization
factor is mentioned below:

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Figure: Visualization of decision-making process
Source: (Lerner et al., 2015)
Determination of issues: As in the current performance the organization is facing a rapid
increase in their operational cost value to the total range of 40% where this respective factor may
negatively impact bottom line of organization. in this current situation, it is important and
mandatory to evaluate and understand the factors which contributes to the deprived performance
of company.
Collection of primary data: After identifying the issues, several questions are prepared in the
form of questionnaire to collect the data systematically. Under this respective part the
departments heads are asked questions regarding the consequence faced by the subordinates. The

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common and major issue identified is related to the weak leadership and improper direction from
the heads associated with the organization which lead to poor performance form the employees.
Analysis of data: When the complete data was collected and gathered, the issues were clearly
positioned by my side on the basis of their affect on the university. Several decision and
examination of the respective issue were issue were made in order to find suitable solution for
the same. I evaluated the contrasted perspectives which were associated with the system of value,
appeal and feasibility where this has helped me to achieve better results and outcome for the
organization.
Accessing Alternatives: By making the best use of tools associated with the decision-making
function, several options were positions by me based on their positive and negative effects. A
choice based on a particular framework was used to evaluate the available options which helped
me in the part of selecting the suitable part which will enhance the company to overcome the
issue.
Decision making: Among the available options, I selected the best fit part for the organization
and informed the human resource department to operate accordingly changing the allocation
process. Before, work was distributed among the employees on a manual basis without any mode
of deadline and predictable outcomes. This led to huge crisis of time and resources.

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Decision making Tools
Some of the major decision-making tools for the beneficial aspect of the organization are
motioned below:
GDDS tool: This is considered to be the most effective and suitable process for the purpose of
adopting decision making function on a group where it avails the members in the area of
undertaking decision making function on a collaborative basis. This facilitates the function of
knowledge acquisition through the process of documenting the information, thereby it supports
the system of knowledge extraction for different experts of available departments (Bujar,
McAuslane, Salek & Walker, 2016). For me, this helped in the part of substantial examination
and evaluation vacillated viewpoints and terms which were identified with respectively elective
provoking positive and better fundamental administration.
Decision matrix: This is considered to be an adaptive platform for the purpose of finding
adequate solution to the issue caused within the organization. Under this respective part by
implementing the system of decision matrix, I was able to select the right decision which is
required to be applied for the part of solving the respective issue. The organization decided to
follow the system of ERP in order to remain more sustainable and competitive in the future.
NVivo Data mining tool: One of the best tools for the purpose of conducting research-oriented
operations within the organization. The most effective part of this tool can be that this has the
capability to analyze and evaluate any data forms. As in the respective part, I performed the
function of primary data collection through selecting individual heads form each department, this
respective tool played an innovative role for me under this respective area. This is considered to
be the most dynamic segment for conducting interpretive approach. This is most applicable in

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the part of solving some segments that are associated with the issue caused whereas this not
considered to be more effective tool as compared to the decision matrix.
Conclusion
The functional aspect that is associated with the system of decision-making process is
considered to be the major part for the purpose of conducting any task associated with the
organization. It is considered to be a challenging part for the organization under the area of
applying the best and adaptive decision for the organization form the available ones. It is the
major part for the current and future functional aspect of the organization. In case the
organization do not follow the required and desired structure, this may generally lead to serious
consequences and discrepancies in the future.

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References
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Du, J., Zou, Z., Shi, Y., & Zhao, D. (2018). Zero latency: Real-time synchronization of BIM data
in virtual reality for collaborative decision-making. Automation in Construction, 85, 51-
64. https://doi.org/10.1016/j.autcon.2017.10.009
Girodon, J., Monticolo, D., Bonjour, E., & Perrier, M. (2015). An organizational approach to
designing an intelligent knowledge-based system: Application to the decision-making
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