Business Decision Making Process and Analysis Report

This report delves into the core principles of business decision-making, examining the various steps involved in organizational growth and strategic planning. It covers a range of topics, including the importance of decision-making in management, making decisions involving multiple objectives, negotiation processes, and the introduction to probability and uncertainty. The report also explores decision trees, simulations, heuristics, biases, risk assessment, and scenario planning. Furthermore, the report analyzes the methods for eliciting probabilities, decision framing, and decision support mechanisms. It emphasizes the application of strategic decision-making in driving organizational progress, analyzing the impact of decisions on organizational structure, and understanding the roles of negotiation and risk management in the decision-making process. The report concludes with an overview of the implementation of the sessions.

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 main purpose of undertaking this report is to understand the steps that are being involved in
the process of decision-making. It is based on the weekly lessons that are being given to the
students for the better understanding of the steps that the organization undertakes while
undertaking a decision. The report also helps in understanding the application of the strategic
decision making in bringing about progress in the organizational structure.

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Table of Contents
Part 1................................................................................................................................................3
Week 1 - The Decision Making...................................................................................................3
Week 2 - Making Decisions Involving Multiple Objectives.......................................................4
Week 3 - People Negotiating and Making Decisions..................................................................4
Week 4 - Introduction to Probability and Uncertainty................................................................5
Week 5 - Decision Trees and Simulations...................................................................................6
Week 6 - Heuristics, Biases and Methods for Eliciting Probabilities..........................................7
Week 7 - Risk, Uncertainty and Judgment Revision...................................................................8
Week 8 - Scenario Planning........................................................................................................9
Week 9 - Decision Framing.......................................................................................................10
Week 10 - Decision Support Mechanisms.................................................................................11
Part 2..............................................................................................................................................12
Implementation of the sessions..................................................................................................12
References......................................................................................................................................14

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Part 1
Week 1 - The Decision Making
Decision-making is the most important step that is required to be undertaken while
managing the organizational growth. The decisions that are being taken in the planning process
help the organization in fixing goals based on the requirements of the organization. The basic
criteria of the decision making programs helped in understanding the importance of the concepts
of taking the rightful decisions (Hartman, DesJardins and MacDonald 2014). Decisions that are
being undertaken by the organization ensures the improvement of the organizational situation,
which is based on the common goal. The theories of the management are applied to the practical
environments in order to make the students understand the ethics of the proper decision-making.
The evaluation of the issues faced by the organizational system is an important step that must be
undertaken by the manager before undertaking a decision.
The session helped in understanding the values of proper decision-making and the
impacts of the decisions taken by the organization on its progress. The progress of the
organization is a basic requirement in order to make the organization sustainable (Popovičb et al.
2012). Therefore, decision-making helps in the organizational progress and thereby supports
sustainability. The approach of the organization is again an important step that must be
considered in order to measure the improvements undertaken by the organization. The
importance of decision making in the management of the organization is being portrayed in the
first week of the session. It also emphasized on the situations that involves the effective decision
making programs in order to undertake the effective organizational progress.

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Week 2 - Making Decisions Involving Multiple Objectives
The decisions undertaken by the manager or the leader of the organization is to ensure the
change that is being undertaken by the organization. The change in the organizational structure
helps in determining the sustainable approach of the organization. Making decisions from a
variety of options is the greatest challenge that the manager and the leaders of the company face
(Schmoldt et al. 2013). It is because the available options seem to be appropriate for the issue
that is being faced by the organization.
The objectives of the organization affect the decisions that are being undertaken by the
organization. The decisions help in achieving the common goals of the organization. Therefore,
it creates an impact on the organizational structure. The involvement of the Lexicographic rule
and the other models like the Elimination by aspects and the Sequential decision making helps
the leader in taking the most viable decisions in favor of the organization (Masini and Menichetti
2012). It helps in the progression of the organization in the respective fields. It helps the
organization in adhering to the requirements of change.
The rules that were taught in the sessions have helped in the understanding of the steps
that are included in order to examine the kind of progress that the company requires. The
manager considers the change based on the requirements of the progress. The progress is being
planned on the basis of the objective of the organization to meet up to the expectations of the
consumers. The adoption of the theories helps in making the most of the changes in the
organizational structure and enumerating the decisions based on the objectives of the
organization (Pettigrew 2014).

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Week 3 - People Negotiating and Making Decisions
The people negotiate over the decisions taken by the organization in order to enhance the
effects of the decision. The decisions form the integral part of the organizational success and
therefore it is the need of the organization to undertake proper decisions for their growth. The
sessions that were being taken in the third week has led to the knowledge of the importance of
the negotiations that are being taken by the organization’s management team in order to address
the effectiveness of the organization (Anderson et al. 2015). Organizations consider the need of
the formulation of the plans in order to make sure that the plans are implemented in their correct
forms. The proper implementation of the plans helps the organization in undertaking the changes
more effectively. Therefore, proper planning procedures must be undertaken by the organization
and judged over by negotiation in order to determine the effectiveness of the plans.
Negotiations helps in determining the differences between the good and the great and
therefore, organizations undertake negotiations before formulating and implementing a plan. It is
based on the effectiveness of the plan, which ensures the change that is being undertaken by the
organization. Negotiations while taking a decision helps in reducing the risks that might be faced
by the organization during its growing period (Hwang and Lin 2012). It helps in determining the
serious aspects of the change and dealing with the changes that affects the systems of the
organization. The changes in the mindset of the people and the varied perceptions help the
organizations in making the most of the decisions taken by the organizations.
Week 4 - Introduction to Probability and Uncertainty
The probability is based on the assumptions that are being undertaken by the
management in order to understand the important aspects of the decision and the effects of the
decision on the organizational structure (Creswell 2013). The assumptions help in determining

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the risks that the organization might face while undertaking the change in the structure and the
systems. The uncertainty of the decisions depends on the change that is being undertaken in the
environment relating to which the organization plans its change. The sudden change might affect
the progress of the organization and the plans that are being implemented on the organizational
structure helps ion determining the progress of the organization in the market (Rios, McConnell
and Brue 2013).
The probability that is being undertaken by the organization while planning the change
helps the organization in determining the risks that the organization might face. The probabilities
help the organization in formulating contingency plans for the survival of the organization in
times of a crisis. The session undertaken in the fourth week refereed to the different functions of
the probabilities in determining the uncertain constraints (Oshima Lee and Emanuel 2013). The
several outcomes of the decision are being determined through mean of the distribution, the
variance and the standard variation and the coefficient of variation. It helps in determining the
effectiveness of the decisions and the effective manner in which the decisions can be managed in
order to bring in the changes in the structure of the organization (Gregory et al. 2012).
Week 5 - Decision Trees and Simulations
A decision tree helps in determining the steps in which the decision making of the
organization is required in order to bring about the change. The changes that are being planned
by the organization help in the survival of the organization in the market. The decision tree helps
in the formulation of the strategies by the organizations in order to ensure the progress of the
same (Velasquez and Hester 2013). The other aspects of the leadership help in determining the
major changes that must be considered. The simulations on the other hand help in determining
the concepts of the implementation of the decisions that are being undertaken by the

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organization. The most important steps that are being undertaken by the organization are based
on the requirements of the organization to make its progress in the market. Simulations help in
understanding the situations that the organization might face in the field.
The simulations that were undertaken in the session shave helped in the understanding of
the situations that the organization might face in a crisis. On the other hand, the decision tree
helps in determining the phases where the decisions are to be taken for the betterment of the
organization. The week’s session helped the students with an understanding of the decision tree
and its implementation. It helps the organization in understanding the stages where decisions are
to be made by the organization for the desired change. Simulations have helped in the
understanding of the varied situations where the decisions are to be taken by the organizations.
Week 6 - Heuristics, Biases and Methods for Eliciting Probabilities
The proper implementation of the Heuristics in order to make a decision effective is an
important measure that must be undertaken by the organizations. It helps in the efficient decision
making systems of the organization based on the changes of the organization. The most
important consideration undertaken by the organization is based on the probabilities of
implementation of the ideas in the decision-making, which is being undertaken properly. The
steps of undertaking the probability of the decision benefitting the organization are being
undertaken through the mean of the distribution (Sharda et al. 2014). The statistical steps are
being demonstrated in the week’s session with the view of understanding the steps that are being
undertaken by the organization. The probable steps that are being formulated by the
organizations helps in facilitating the change.

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The methods for eliciting the probabilities of the success depend on the calculations that
the organization undertakes before taking the decision. It helps the organization in understanding
the steps that the organization undertakes for bringing in the change. The probabilities help in
enumerating the steps that are required by the organization for the gradual development.
Week 7 - Risk, Uncertainty and Judgment Revision
The risks that are involved while undertaking the change is an important factor that must
be analyzed by the organization (Pomerol and Barba-Romero 2012). It helps in the decision-
making of the organizations based on the requirements. In order to determine the risks that are
involved in the process of managing the changes in the organizational systems, the organizations
undertakes the usage of the probabilities. It helps in improving the functional abilities of the
organization’s progress. The decisions undertaken by the organizations are based on the clear
insight of the risks involved in the process of the change (Saaty and Vargas 2012). The
uncertainty and the risk that is involved in the decision making process of the organizations are
based on the policies and the type of improvements required by the company to make its
progress in the market.
The week’s session helped in making the students aware of the risks that the organization
assumes while formulating the decisions. The decisions help in the proper maintenance of the
ideas and the implementation of the plans to avoid the situations of the risk and the uncertainty.
The uncertainty that are faced by the organization helps in determining the progress that the
company assumes to make through the decisions. The session is believed to help the students
with the clear understanding of the risks that are involved in the process of undertaking the
change. The uncertainty of the decisions is based on the aspects of the assumptions and the

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calculated probabilities that are being undertaken by the organizations. It helps the organization
in making use of the decision tactically in bringing about the change.
Week 8 - Scenario Planning
The planning of the scenario is again another aspect that influences the effectiveness of
the decision that is being taken by the organization. It helps in identifying the probable outcomes
through the implementation of the strategies on the situations that might be faced b the
organization. The firms, identifies the different scenarios in the market and determine the
discrepancies. Secondly, they determine the similarity of the current strategy of the firma with
the scenario that they propose (Savikhin and Sheremeta 2013). The similarity in the scenario and
the strategy of the organization helps the organization in choosing the correct options from the
rest. Decision is all about making the right choice. Therefore, the interrelation of the strategy
with the scenario helps the organization in undertaking the decision in favor of the organization.
It helps the organization in making the correct choice.
The scenario planning session helped the students in understanding the organization’s
assumption of the budget in order to undertake the change. The budget helps the organization in
making the right decision. Therefore, it is an important part of the planning process of the
organization relating to its progress. The planned session has enumerated ways in which the
organization can plan its scenario based on the strategies. Scenario planning is different from the
strategic planning of the organizational growth (Conroy and Peterson 2013). The strategic
planning analyzes the trends and focuses on prophesying the changes that the organization might
meet in the long run. On the other hand, the scenario planning involves both of the elements of
strategic planning in order to enhance the organization’s capability of meeting the big changes in
the market. It helps in determining the major changes and thereby helps in the adaptability of the

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organization to the change. The session has helped in the understanding of the strategic analysis
and the forecasting under the broad terms of scenario planning.
Week 9 - Decision Framing
Framing the decision is an important step the organization undertakes in order to make its
progress in the market. The most important consideration undertaken by the organizations are
based on the criteria of the change in order to make the company sustainable in the market
(Griffin 2013). The decisions taken by the organizations help in determining the objective of the
organizations and thereby frame their decisions accordingly. In order to undertake a decision, the
organization follows certain steps. The steps help in understanding the requirements of the
organization as a whole.
In this week’s session the students were taught about determining the information from
the past decisions and identifying the flaws that made the company to undertake the change.
After the recognition of the flaws, the priority of the actions that are being taken by the
organization helps in understanding the situation of the organization and sequencing the actions
in a continuous basis (Eweje, Turner and Müller 2012). Even before taking the rightful decisions,
the organizations are required to assume a timeline for the change to affect the structure of the
organization. Identifying the risks and the appropriate human resource helps in framing the
decision that is being undertaken by the organization for anticipating the change in its structure.
The session helped the students in understanding the different concepts that are being undertaken
while undertaking the framing of the decisions. The market considerations of the organization
help the organization in choosing the rightful decisions for the change.

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Week 10 - Decision Support Mechanisms
The decision support mechanism or the decision support system is an information system
that helps the organizations in taking the rightful decisions for the growth and expansion of the
business kin the market (Schneeweiss 2012). The consideration undertaken by the information
system is based on the research of the market that is being undertaken by the system. It helps the
organizations in understanding the changes that they must adhere to in order to sustain their
business in the market (Janssen 2012). It helps in the mid and higher management in undertaking
the plans of masking their progress in the market. The decision support systems can be
computerized, human-powered or the combination of both the forces. The information system
helps in determining the effective decision making of the organization and ensures the
organizational success in the long run.
The students who attended the week’s session were taught of the implications and
applications of the information system and the manner in which the mechanism helps in the
proper decision making of the organization (McAfee, Brynjolfsson and Davenport 2012). The
tutors undertook several practical situations where the information system can be applied and
thereby bring about changes in the decision making of the organization. The effective decision
making of the organization is based on the principles of the change that the organization requires
in order to sustain in the market. Therefore, the students were made to solve demonstrative issues
faced by certain organizations through the clear application of the information system. It helped
in the proper understanding of the steps that are being undertaken by the organization for the
progress (Haimes 2015).