University Business Study Report: Decision Making Process and Skills

This report examines the process of business decision-making and its impact on employability and study skills, following the Gibbs cycle model for reflection. The study explores various aspects, including financial and non-financial mechanisms, and the development of study skills such as organizing, analyzing, and problem-solving. The report highlights the importance of communication, numeracy, and ICT skills in the decision-making process. It discusses the application of research in developing these skills, along with an analysis of the role of self-management, time management, and teamwork. Furthermore, it emphasizes the development of problem-solving skills using inductive methods and the application of financial tools and techniques. The report concludes by assessing the impact of the research on career growth and provides a bibliography of relevant references.

Running head: BUSINESS STUDY
Business study
Name of the Student
Name of the University
Author Note

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Introduction
Business decision making effectiveness will ultimately regulate the success of the
company. This is an essential element of modern management. Principally, the cogent
decision making is consider as the main function of the management. Making decision in
business consciously is a key component role of a manger. Decision play an important role to
determine the both organisational and managerial actions. A decision can be distinct as a
course of action expressly selected from a set of alternatives to achieve a managerial and
organisational purposes or goals. The process of decision making involves a set of action
course select from two or more possible substitutes in order to arrive at an explanation for a
given problem.
Gibbs cycles defection
This paper is completely follow the Gibs cycles model.
Description
Feelings
I still remember how nervous I was that first day; there were several methodology,
articles, journals that were interesting. There were some challenging assignments that nobody
wants to do but if we reach out to our mentors, they always guide us with the solution. There
was deadline for submitting assignments.

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Evaluation
As I have taken this course, my own perception has changed on the process of
business decision. From the content that was covered to the actual practice, I saw how
decision making in business could be conducted in a way of taking several financial and non-
financial mechanism.
Analyzing
The researching journals and the methodology that I have taken to complete this
above task help in such a manner that will develop and contribute towards my employability
skills and study skills.
Study skills are those skills, which enables me to study and learn professionally, it is a
significant set of transferable life skills. Through this study I have developed my own
individual method towards my study and learning in such a way that encounters my own
individual needs, as you develop the study skills you will easily come to know what works
suit for you and what does not likewise this has applied to me also. So in short, I can say it
will develop my employability skills. By doing the research on business decision making
process, I realize, it is not necessary that the study skills should be always related to subject
specific, these are generic and it can be used while studying an area, you need to comprehend
the concepts, theories and ideas regarding your specific subject area. Applying the research in
this assignment, I have given sent percent focus on it and that helps me to develop my study
skills. Research on business decision making is a study by which I develop not only my study
skills but also organizing skills, analyzing skills, problem solving skills, which are more
transferable. It is very closely to those competencies, which an employer ultimately look for.

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Talking about the employability skills, employers are looking for skills that go
beyond your qualification and experience. Through this study on business decision making, I
have continuously develop my empirical experience on financial approach as well as non-
financial approach. Your educational experience may make you eligible to get in to a job. I
think the study skills and the emplobility skills is correlated. For instance, I can say by this
research I have developed my knowledge on financial tools and techniques, which mark the
business decision.
Communication skills
The research on business decision-making process develops my verbal
communication skills. Practical verbal communication skills include more than just talking; it
encompasses both how you deliver your messages and how you receive. It is also a soft skill
that all employer is looking for. Through the research process, I continuously communicate
with a mentor in various articles and journals. My mentor helped me in such a way in which I
have done my research in an empirical technique. It helps for developing the verbal
communication skills as well as written skills throughout.
Numeracy skills
Considering many of the journals, articles, related videos has developed my research
skills. The process of this research can improve my qualitative analysing skills as well as
quantitative analysing skills. A systematic approach that accounts the term research helps in
describing, explaining and prediction of the mentioned phenomenon. It also involves the
deductive and inductive methods. As an example, I have studied capital budgeting technique,
research on the financial decision paper, evaluated the articles and books on discounted cash
flow technique.

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ICT skills
Defining the ICT approach, these entire skills about the applying and understanding a
variety of computer programmes, software and other submissions, it includes databases,
database, and PowerPoint and search engines. In addition to the technical skills, the other
skills include creativity and analytical skills to apply the right ICT skill to an activity. There
are some attributes consists the ability to use the computer operating system, to entrance the
software programmes and succeed the primary purpose of a computer, able to positively use
of core computer programmes to deliver the digital evidence such as word documents, excel
formula, To communicate and interact with the other ICT users by the access of internet and
email, create and engage with digital information for a specific task. Through this research, I
have used the excel for the calculation and It delivers me a technical upliftment. Search
engine utilisation was also done by me in a valuing manner to complete the research area.
Though the decision-making process in business is not a new trend, it has a significant
increase due to emerging technology. The whole support network was amazing; I met fellow
students through tutorials for further guidance. I experienced that the fast use of
Communication and Information Technology in education and research will continue to play
a role in established countries to facilitate them for developing a lot of information and
communication technology-based universities. Now related to work and based on the
learning, I really feel I have the quality to perform well as a financial analyst. As I completed
my Master’s degree in management, I feel confident about my accounting skills and
managerial skills, my skills are getting better day by day as I am working on different
projects. For example I have used the excel programme to calculate the NPV of the project,
formula applied to payback period.

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Organizing skills
Going through this research study, I have developed self-management skills and time
management as well; Self-management is taking responsibility for your own actions and
perform this as well as you can. It shows the ability to organize yourself and offer your own
ideas to any project. It seems like be a boss of you not for team. I was focused only my
research parameter, which helps me a lot for empaneling the segmentation of this study, how
do I, frame my steps. I think only focus about the study is help to maintain the self-
management. By improving my self-management skills, I have achieved imitativeness,
organizating and accountability skills. Beside this I have kept in my mind the deadline of this
project, so for focusing the time management skills, I took help more from some videos
related to finance where the study is very lengthy process. It is a process of forming and
scheduling between the specific events. Decent time management skills empowers to work
smartly. With the development of the time management skills I realize the outcome from it is
very enormous like larger efficiency and output, amplified chances for progression and less
stress.
Action plan
To complete a project a teamwork is very crucial. Lot of efforts undertaken by every
team member for the attainment of the team’s purpose. Teamwork is equally important for
the maximum output. Since it is an individual project, I have done this on my own analysis. I
take the full responsibility to complete this assignment.

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Problem solving skills
Fundamental elements of every researchers that they should address the problem and
solve them. This skill leads to a success. There are four basic steps that I would consider to
solve a problem as follows:
Problem statement
Alternatives generating
Evaluation of alternatives
Approaching the solutions.
This paper help me to build my problem solving skills, for an instance I could suggest
during the time of research and decoding the data I have faced several challenges. However,
the inductive method of research help me to develop my problem solving skills. For example,
I can say to make an ethical decision based on the financial perspective and the non-financial
perspective is a challenging job.
Concoction
During my experience of this research on business decision-making I could suggest, it
has entirely developed my employability skills and study skills in a degree of practical
implication. From this research what soft skills I have gained, I am assuring that it will have a
great impact on my career growth.
Conclusion
The research on business decision making and empirical work regarding this can
make a good decision maker. Research regression helps me in such a way that I find my

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weakness and improve it radically. This research contributes a value, which makes a value in
my skills. During this study, working in excel help me to develop my technical skills as well
as the numerical skills.

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Bibilography/Reference
Azungah, T., 2018. Qualitative research: deductive and inductive approaches to data
analysis. Qualitative Research Journal.
Brown, L. and O'Keeffe, L., 2016. Preparing for the Numeracy Skills Test: Developing a
Self-Perception for Success. Mathematics Education Research Group of Australasia.
Cottrell, S., 2019. The study skills handbook. Macmillan International Higher Education.
Ferrell, O.C. and Fraedrich, J., 2015. Business ethics: Ethical decision making & cases.
Nelson Education.
Kanavou, A., Path, K. and Doll, K., 2016. Breaking the Cycles of Repetition? The
Cambodian Genocide across Generations in Anlong Veng. Breaking Intergenerational Cycles
of Repetition: A Global Dialogue on Historical Trauma and Memory, pp.174-193.
Lazar, S., 2015. The importance of educational technology in teaching. International Journal
of Cognitive Research in Science, Engineering and Education, 3(1).
Parasuraman, J. and Prasad, N.H., 2015. Acquisition of corporate employability skills: A
study with reference to engineering graduates. IUP journal of soft skills, 9(2), p.22.
Pohjolainen, S., Nykänen, O., Venho, J. and Kangas, J., 2018. Analysing and improving
students’ mathematics skills using ICT-tools. Eurasia Journal of Mathematics, Science and
Technology Education, 14(4), pp.1221-1227.
Pope, S.A., 2015. Strategies for developing interpersonal communication skills for business
students (Doctoral dissertation, Walden University).

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Riyanti, B.P.D., Sandroto, C.W. and DW, M.T.W., 2017. Soft Skill Competencies, Hard Skill
Competencies, and Intention to Become Enterpreneur of Vocational Graduates. International
Research Journal of Business Studies, 9(2).
Szydlowski, M., 2015. Incentives, project choice, and dynamic multitasking. Project Choice,
and Dynamic Multitasking (May 18, 2015).
Verhoeven, J.C., Heerwegh, D. and De Wit, K., 2016. ICT learning experience and research
orientation as predictors of ICT skills and the ICT use of university students. Education and
Information Technologies, 21(1), pp.71-103.