College of Administrative and Financial Sciences MGT 312 Assignment 3

This assignment presents a decision-making worksheet created in response to a business case study. The scenario involves Talal, a recent MBA graduate, who is contemplating his career path and whether to start his own business or join his family's existing ventures. The worksheet guides the analysis by defining the problem, developing a mind map of alternatives, generating potential business options (fitness center, joining father's jewelry shop, expanding brother's car rental service), and identifying key variables to consider, such as capital investment, business capacity, and the overall economic scenario. The assignment then weighs these variables, assessing the suitability of each alternative based on these considerations. The solution concludes with a calculated decision, recommending that Talal start his own business to leverage his business knowledge and passion for bodybuilding. The solution demonstrates the application of decision-making tools and problem-solving approaches to address complex business situations, including financial aspects, career planning, and the evaluation of business opportunities.

College of Administrative and Financial Sciences
MGT 312
Assignment 3
Deadline: End of Week 12, 09/04/2020 @ 23:59
For Instructor’s Use only
Instructions – PLEASE READ THEM CAREFULLY
 The Assignment must be submitted on Blackboard (WORD format only) via
allocated folder.
 Assignments submitted through email will not be accepted.
 Students are advised to make their work clear and well presented, marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
 Students must mention question number clearly in their answer.
 Late Submission will NOT be accepted.
 Avoid plagiarism, the work should be in your own words, copying from students or
other resources without proper referencing will result in ZERO marks. No exceptions.
 All answered must be typed using Times New Roman (size 12, double-spaced) font.
No pictures containing text will be accepted and will be considered plagiarism).
 Submissions without this cover page will NOT be accepted.

Course Learning Outcomes-Covered
 Identify and analyze different perspectives on understanding problems for different
situations. (3.1)
 Utilize different decision making tools to enhance problem solving and decision
making approaches. (4.3)
 Develop numerical skills required for quantitative decisions in complex situations. (4.1)
 Create a Decision Making and Problem Solving worksheet document. (4.5)
Assignment Questions: (Marks 10)
Talal has completed his Master’s in Business from SEU. Talal’s hobby is body building. He
bagged several awards in body building. His father has a small jewelry shop. His mother
running a beauty salon, while brother has a car rental service.
Talal is thinking seriously about his future. He realized that this is not the end, but the
beginning of another phase of life. It is time to plan his future career. He doesn’t want to do
any job. He want to do business but how and what business?
Talal is confused about what kind of business should he start, traditional or e-commerce?
Though his family is running a traditional business, Talal has heard and learnt lots about the
e-Business and e-marketing. The question he need to deal with whether he should join his
father’s or brother’s business or he should do his own. He is also considering the financial
aspects. Should he take from father? Or bank or other sources such as partnership, etc.
Therefore, this is a question with no easy solution. Considering the above situation prepare a
Decision Making and Problem Solving Worksheet answering the following question:
Step 1: Defining and Clarifying the Question (1 Mark)
Step 2: Develop mind mapping for the alternative (2 Marks)
Step 3: Generating Alternatives (1 Mark)
Step 4: Variables to consider (1 Mark)
Step 5: Weighing the considerations (2 Mark)
You may notice that the variables to consider are not of equal importance. Therefore, you
need to weigh how important each variable is before you make your decision. In this activity,
the following rating scale can be used:

5 Very important
4 Considerably important
3 Neither important nor unimportant
2 Not very important
1 Not important at all
Step 6: Weighing the alternatives (2 mark)
When weighing the various alternatives, how well each alternative fulfills the variables to
consider can be expressed as scores. A different rating scale will be used to assess each
alternative:
+2 very suitable
+1 quite suitable
0 neither suitable nor unsuitable
-1 not quite suitable
-2 not suitable at all
Note: Positive numbers (+2 or +1) indicate that the alternative is able to fulfill the variables,
whereas negative numbers (-2 or -1) denote the opposite.
Step 7: Calculating a decision and Overall assessment (1 mark)
[Please answer in the next page]

Answers
Question 1
The key concern of Talal after completing his studies is to well think about his future career. Talal has
well completed his Master’s in Business and we his willing to start his own business, given the fact he is
much profound about Bodybuilding he can well start a fitness centre or a gym so that his passion can well
give a head towards a professional level. His professional aspects and knowledge about operating a business
knowledge learned from MBA Course can be well materialized by opening a new business venture in this
field.
Question 2
Mapping of knowledge with skills is one of the prime concern and that should be well mapped down
with the help of the knowledge that Talal has gained in his academic field and the same can be well applied
in the professional field with the help of wide knowledge that the company has gained. Application of skills is
another aspects in this field and the same can be relatively done well by observing the industry trend,
industry demand and other key business factors like demand, operators and consumer demographics well
looking for these fitness services.
Question 3
Talal has several alternatives at this stage considering the academic and his compassion towards
body-building he can well go for creating out a fitness centre which would be well aligning his professional
work along with his hobby for earning his way out. On the other hand, he has considerable options by joining
his father business and well apply the knowledge and various aspects of business for well increasing the
business on a e-commerce platform which would be well helping his father expand his father’s business with
help of e-commerce and online sales of goods and services. On the other hand, Talal can also expand his
brother Car Rental business with the help of his knowledge and application of e-commerce in his business.
Question 4
The variables for consideration for Talal are some of the key considerations that should be noted as
mentioned:
 Capital Investment
 Business Capacity
 Other Professional Work
 Overall Economic Scenario
 Time Period for Investment

Question 5
The key variables to consider while deciding upon the best option would be well helping Talal
decides the limitations and the key factor which would be influencing his decision. The key variables are as
follows:
Capital Investment (Very Important): If Talal, well wants to start his own business he would be well
requiring a sufficient amount of capital for the business and the source of finance will be a key factor
influencing the decision. Talal can well finance the capital requirement from borrowings from friends, family
or via external sources like banks and financial institutions.
Business Capacity (Considerably Important): Given, the fact Talal can well apply his knowledge for well
expanding his family business, it is well important to understand the industry, market response towards the
business and whether there is enough resources in the field of assets, capital and employees for the purpose
of well expanding the business.
Other Professional Work (Not Important nor unimportant): Talal, can also try for some job given the fact if
the business capacity cannot be increased and if he would not be able to expand his family business.
Overall Economic Scenario (Not Very Important): If the economic scenario is poor or political policies rolled
out are not favourable then the option of starting a business would not work out well.
Time Period for Investment (Not Important at all): The time period for the investment can be also one of
the factor that can be well considered.
Question 6
Variables Rating
 Capital Investment: Very Suitable
 Business Capacity: Quite Suitable
 Other Professional Work: Neither suitable nor unsuitable
 Overall Economic Scenario: Not quite suitable
 Time Period for Investment: Not suitable at all
Question 7
From a business decision perspective, it is well advised that the Talal should well start his own
business, given the fact that is business ideas and academic knowledge in the business field would be well
helping him earn a positive NPV for his career and he will be able to well achieve his objective of making his
career well settled.