Decision-Making Mid-term Assignment, Fall 2018/2019

This assignment solution addresses a decision-making mid-term from Geneva Business School, covering key concepts such as problem analysis, decision-making steps, and cognitive biases. The paper outlines the steps of problem analysis, detailing how to categorize, define, and find solutions to problems. It then explores the multi-step course of action in decision-making, applying these principles to a case study of a business student facing academic underperformance. Furthermore, the assignment includes decision tree charts illustrating the student's decision to study at GBS and the achievement of a personal goal. Finally, the document analyzes cognitive biases, decision-making strategies, and their impact on the decision-making process, providing a comprehensive overview of the subject matter.

Running head: DECISION-MAKING
Decision-Making Mid-term
Name of the student:
Name if the university:
Author note:

1DECISION-MAKING
Problem analysis is important to understand the issues and reach the solutions. Hence,
problem analysis must be aligned with a systematic process listing the possible steps to be
followed to identify and analyze the problems. These are (Linkedin):
Categorizing the Problem may sound an easier act to do; however, it is actually a tricky
process. The one compulsory thing with the problem identification is thinking of the problem
objectively rather than focusing on its consequences. It, therefore, encourages to collect the
necessary data to understand the problem that had caused painful consequences.
Defining the Problem of a problem analysis is the next stage where one is encouraged to
define and analyze the severity of the problem or problems. It means reaching to the root causes
of it and identifying the urgency level.
In Potential Solutions, this is required to go through brainstorming sessions to be able to
reach to an ample number of solutions addressing the issues.
At Solutions to a Part of Problem, it is advisable to go for a part of a solution as
compared to the whole. It is advisable to take help from a cross-functional problem-solving
group. This will generate different ideas as this is important to look at the problems from various
perspectives to identify the most feasible solution. Notably, collaboration is one of the pearls of
innovation.
In Decision-Making, each problem-solving steps must be evaluated on short and long-
term advantages and disadvantages of each solution. It helps to identify the best of the solutions.
At the Implementation and Evaluation stage, the selected solution will be implemented.
It needs to be evaluated as well, which can be done in many ways such as measuring its
performance against the set key performance indicators (KPIs).

2DECISION-MAKING
Course-of-action development makes up the foundation of the plan. It consists of the
following steps (Globalsecurity):
Firstly, ‘What’: The Type of Action
Secondly, ‘When’: Time, the action begins
Thirdly, ‘Where’: Location of Zone
Fourthly, ‘How’: Tactics of Employment
Fifthly, ‘Why’: Intent
Possible problems are poor work environment, lack of motivation to work, low morale in
the workplace, personal issues such as family stress, or cultural misunderstandings.
Decision-making steps, the type of action is related to both of Julia's personal and
professional lives. The action is required on an urgent basis as personal issues will add up the
stress level and workplace issues will further affect the work motivation. Actions are required to
identify the potential causes of low morale and motivation. At the implementation process, Julia
will require the support of the managers and employees both. Managers can help with valuable
ways to overcome the issue. The support from employees is required because they can only assist
in the implementation of actions. The intent should be to help Julia overcome the challenging
circumstances.
Positive results will indicate that Julia took the right decisions.

3DECISION-MAKING
An aspiration to take the admission
Search on Google, newspapers, and other media
Admission process and related inquiries
Decided to go with the GBS
Shortlisted a few schools
Contacted to the concerned person
Visited official website
Time-Management
Strict time-management rules in schools
Punctual teachers and principals
It helped me to be habituated with it
I had no option than to be adaptable with it
It helped me to work harder to become a punctual person
person
They were my motivations in schools
Figure 1: Decision-Tree Chart for the Decision to Studying at GBS
(Source: created by author)
The above tree shows how decisions were taken to studying at GBS.

4DECISION-MAKING
Figure 2: Decision-Tree Chart for a Goal
(Source: created by author)
Time management is set as the goal achieved this year.
Cognitive Biases, Confirmation Bias, people seek to remember information that
resembles their existing ideas.
Loss Aversion, fear to lose something, which is easily gettable such as a $5-off voucher.
Customers perceive that if not availed they will purchase the concerned products at a loss.
Anchoring Bias, anchoring bias is there when people give more significance to the first
information that they receive. For example, the first review has a more impact on customers.
The Mere Exposure Effect, it is observable in a case when customers easily pick up the
Adidas shoes over any other manufacturers with same product and quality.
The Halo Effect, it is about creating an impression with the first look. It can be in the
form of a marketing message or the website content. Many customers perceive on the basis of
their first impression of a product or a service.
(Lockton; 3-5)
Decision-Making Strategies, Compensate for the Biases, a person stops being objective
when his or her biases and emotions interfere with the evaluations. In order to make effective

5DECISION-MAKING
decisions, there is a need to critically think about the mentality and factors those contribute to a
subjective decision.
Use of Lists consisting of Pros and Cons, it helps to evaluate a set of decisions on the
basis of its pros and cons. Once evaluated, this would become easier to select the best decision.
Imagine Counseling the other Person, a person can have distorted views of his or her
problems. However, if that person is counseling the others he or she becomes able to deliver the
useful strategies.
Make and Sustain the Decision, there is no avoiding making a decision. On a similar
note, once the decision is being made it needs to be retained. This is despite a fact that it is not
the best but rather the possible decision considering the given circumstances.
(Harvard Business Review)

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References
Globalsecurity. "COURSE-OF-ACTION DEVELOPMENT AND ANALYSIS."
globalsecurity.org. N.p., 2018. Web. 24 Nov. 2018.
Harvard Business Review. "A Checklist For Making Faster, Better Decisions." Harvard
Business Review. N.p., 2018. Web. 24 Nov. 2018.
Linkedin. "6 Effective Problem Solving Steps For Business (And...Life In General)."
linkedin.com. N.p., 2018. Web. 24 Nov. 2018.
Lockton, Dan. "Cognitive biases, heuristics and decision-making in design for behaviour
change." (2012): 3-5.