MGT602 Business Decision Analytics: An In-depth Decision Analysis

This essay provides an analysis of decision-making styles within the context of business decision analytics. It explores the author's personal decision-making preferences as determined by the Decision Style Instrument and the Sixteen Personality Type Test, contrasting intuitive and logical approaches. The author reflects on real-life decisions, identifying a tendency towards intuition, while acknowledging the importance of logic. The essay also discusses strategies for achieving a balance between intuition and logic, including self-development techniques aimed at modifying the author's primary personality type. The conclusion highlights the potential contradiction between the two tests used and emphasizes the need for a balanced decision-making style, leveraging the strengths of both intuition and logic. The essay references relevant academic sources to support its analysis and recommendations.

BUSINESS DECISION ANALYTICS: DECISION STYLE ANALYSIS

BUSINESS DECISION ANALYTICS: DECISION STYLE ANALYSIS
INTRODUCTION
The decision making process and decision making styles are major determinants of the
success of any activity. In business, the level of understanding of the decision making styles
makes the difference between stability and massive losses (Gaston-Breton & Duque, 2015).
There are three main theories in decision making styles; Intuition Theory, where
decisions are made based on an instinct, nature or feeling (Matzler, Ballom, & Mooradlan,
2008). Logic Theory, where reason and rational are relied upon in decision making (Trottier,
2017). And finally the Balance Theory, which involves a mixed intuition-logic approach in
decision making (Okoli & Watt, 2018).
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BUSINESS DECISION ANALYTICS: DECISION STYLE ANALYSIS
From the Decision Style Instrument, APPENDIX A, I am more intuitive than logical in
decision making. I prefer making decisions based on instincts and the general feeling I have
about the situation at hand. This is reflected by a high ranking for the scores on Intuition from
the Decision Style Instrument. Intuitive approach provides an actionable alternative in instances
where other alternatives are not available, or there is need to seek an unorthodox approach
(Uzelac, Bauer, & Matzler, 2014). I also do apply logic in making decisions, although to a
limited extent. This implies that for every decision I make, there is an aspect of logic although I
prefer eventually going by the feeling I have after considering all the available logical
alternatives. The Logical approach provides a sense of reason to the decision making process
(Kahneman, 2011). Though I do apply both Intuition and Logic Decision Styles, I apply them in
different measures. This means that my application of the Balance Decision Style is limited. This
is reflected from the low rank of Balance Decision Style on the Decision Style Instrument. A
balanced approach provides a criterion that gives equal weight to both intuition and logic (Guo,
2008).
Three decisions stand out from the summary of daily decisions in my decision diary. First
decision was whether to attend a social event or not. With a tight schedule on the afternoon of
the event I had doubts as to whether to spend the two free hours I had at the event. Logically, a
break would be a much better alternative, but I had a good feeling about the event and therefore
attended. The event turned out to be captivating and rejuvenating. The second decision was
whether to do my research online or at a library. I felt the library would be too involving in terms
of getting research materials, the internet seemed like a convenient solution. The library on the
other hand presented a conducive environment for research. Eventually I decided to do my
research at the library and simultaneously using the internet to get materials that I could not
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BUSINESS DECISION ANALYTICS: DECISION STYLE ANALYSIS
easily locate. The final decision was on whether I should change the brand of breakfast cereals.
Its price had gone up, and I had seen an advertisement of a new brand that was affordable. I
decided to try the new brand while at the same time saving on money.
My primary type from the Sixteen Personality Type Test, APPENDIX B, is ESTJ
(Extroversion, Sensing, Thinking and Judging). From the results, I am more logical in decision
making. I am comfortable going to social places, rely mostly critical thinking and prefer a pre-
planned ordered way of doing things which is an indication of a Logic Decision Style. My
shadow type from the Sixteen Type Test, APPENDIX B, is INFP (Introversion, Intuition,
Feeling and Perceiving). My shadow type is less outgoing, relies more on instinct for making
decision as opposed to reason, and prefers adapting to arising situations and creativity. In order
to achieve a balance between my primary and shadow types, I should start by placing equal value
to my personal time and time spent with others, this may reduce chances of my decisions being
influenced by others. I should also increase my reliance on instinct to equal the reliance I have on
reason. Finally, there is need for me to give consideration to creativity and the ability to adapt to
arising situations. These would achieve a Balanced Decision Style where both the primary and
shadow sides of an individual are prioritized (Guo, 2008; Selart, Johansen, Holmesland, &
Gronhaug, 2008).
I am going to implement the following self-development strategies aimed at modifying
my primary type. First, being less social, which entails a reduction in the number of my social
engagements. Second, listening more to instinct, which will involve giving consideration to my
gut feeling before making a decision. Applying both planning and adaptive approaches for
situations. This means that I will tend to be more adaptive to situations that arise as opposed to
attempting to plan on how to tackle them before I begin the activity in question. The following
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BUSINESS DECISION ANALYTICS: DECISION STYLE ANALYSIS
will be the consequences of the recommended strategies. Firstly, the size of my social circle may
decrease since I will be less likely to attend outings and social events. Secondly, I will on
average be taking more time to make decisions. This is because on top of relying on critically
thinking, I will be reliant on my instincts in making the eventual decision. This time will
however decrease as I adapt to my modified decision style. I will be more flexible in the manner
in which I carry out tasks and activities. This will be a shift from the rigid plan first approach to
the adaptive approach to activities.
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BUSINESS DECISION ANALYTICS: DECISION STYLE ANALYSIS
CONCLUSION
I can conclude that the two tests, Decision Style Instrument, APPENDIX A, and Sixteen
Personality Type Test, APPENDIX B, are contradictory in determining the decision style of an
individual. This is because the Decision Style Instrument shows I’m Intuitive while the Sixteen
Personality Type Test shows I’m logical. The results from the Design Style Instrument was also
supported by the analysis of the decisions in my decision diary.
I also conclude that there is need for me to move to a balance decision style that will add
pull the strengths of both the logic decision and intuition decision styles.
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BUSINESS DECISION ANALYTICS: DECISION STYLE ANALYSIS
APPENDIX A
Table 1: Decision Style Instrument Scaled Results
Decision Preference Scale
Lower Mid-Range Higher
Intuition X
Logic X
Balance X
APPENDIX B
Table 2: Sixteen Personality Type Test Scaled Results
High Medium Low Med High
Extroversion X Introversion
Sensing X Intuition
Thinking X Feeling
Judging X Perceiving
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BUSINESS DECISION ANALYTICS: DECISION STYLE ANALYSIS
REFERENCES
Gaston-Breton, C., & Duque, L. C. (2015). Utilitarian and Hedonic Promotional Appeals of 99-
Ending Prices: The Influence of Decision-Making Style. European Journal of Marketing
, 212-237.
Guo, K. L. (2008). DECIDE: A Decision-Making Model for More Effective Decision Making by
Health Care Managers. The Health Care Manager , 118-127.
Kahneman, D. (2011). Thinking, Fast and Slow. New York: Farrar, Straus, and Giroux.
Matzler, K., Ballom, F., & Mooradlan, T. (2008). Intuitive Decision Making. MIT Sloan
Management Review, 1-8.
Okoli, J., & Watt, J. (2018). Crisis Decision-Making: The Overlap Between Intuitive and
Analytical Strategies. Management Decision, 1122-1134.
Selart, M., Johansen, S. T., Holmesland, T., & Gronhaug, K. (2008). Can Intuitive and
Analytical Decision Styles Explain Managers' Evaluation of Information Technology?
Management Decision, 1326-1341.
Trottier, K. (2017). Leading Under Pressure: Evaluating The Decision-Making Style of NHL
Coaches. Sports, Business and Management: An International Journal, 97-112.
Uzelac, B., Bauer, F., & Matzler, K. (2014). Intuitions Value for Organizational Innovativeness
and Why Managers Still Refrain from Using It. Management Decision, 526-539.
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