MGT602 Business Decision Analytics: Weekly Decisions Report

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MGT602 Business Decision Analytics
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Weekly Decisions
It takes a lot of efforts to take a wise decision. There are lots of decisions that I took to improve
my studies and score good marks in my assessments. I am a leisure lover, and that’s why I spend
most of my time resting. I realized that this is not a good habit and a student, I should wake up
early in the morning so that I can revise my lessons. I took the decisions of waking up early in
the morning and then devote time in yoga that will help me to get a healthy body and a peaceful
mind. I think that this decision will also help me in my personal development as well. I want to
improve my health as I have low immunity, so I have decided to start my day with a healthy
breakfast like eggs and banana milkshake.
Major decisions
The above-stated decisions are the minor decision that I took to improve myself, but talking
about the major decisions of my life, I can say that taking admission in the course of Business
decisions analytics was a major decision for me. My parents had a dream to see me as a doctor,
but I never interest in biology or becoming a doctor. I always wanted to be an entrepreneur. I
want to get self-employed and also provide employment to the needy ones. In business, there are
various types of decisions that are to be taken by the entrepreneur, and for that, it is significant
that the entrepreneur has effective knowledge about the business decisions. I chose this course
and my parents also supported me a lot and sent me to Torrens University to complete my
studies.
Decision-making preference
If I talk about my decisions making a preference, I can say that I took the major decisions of my
life by the use of analytics and perspective model of decision making (Sund, et. al., 2016). I
have seen that most of the people in the world take decisions as per their intuitions, which
sometimes prove wrong for them. In my opinion, every decision must be made after analyzing
the consequences and using the deliberative cognition. It helps in making wise decisions and also
eliminates biased and flawed decisions. When my parents said that they want me to be a doctor, I
analyzed my future and realized that I could never be a good doctor even if I pass the exams
because I do not have any interest in the subject. I might not be as successful as I would be if I
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become an entrepreneur. I gave a thought and decided to take up the course of business decisions
analytics.
Personality style and its impact on decision making
I am a very futuristic and optimistic person. I try to find out positivity in every situation. I am a
practical person by nature, and I think this is my strength. I do not get easily affected by small
obstacles that come in my life. This also reflects in my decisions making style. I can say that my
personality has a positive impact on my decision (Das, 2016). As stated above that I took the
decision of choosing this subject; I can say that this is because of my practical nature. I thought
in a positive and practical manner and analyzed the negative consequences of being a doctor. I
have effective leadership skills, and to be an entrepreneur, leadership skills are important to be
possessed by a person. I wanted to improve my skills like decision-making skills, critical
analysis skills and I think that this course would surely help me in my professional development.
Feedback and reflection
My classmates have also given their feedback on my decisions as followed:
 A: A said that my decision of waking up early is a very wise decision as it will help me to
manage my time and devote more time in studies and extra-curricular activities.
 B: B was also satisfied with my decision of eating eggs and having banana milkshake in the
morning as this will improve my health. But at the same time, he also said that I need to take
care of my weight as this diet can increase my weight, which is again not good for my health.
 C: I discussed the decision of choosing the course of business decision analytics with C and
C supported me in my decisions. He said that a person could do best in the field in which he
has an interest, and I took the correct decision by choosing this course.
Decision-making tools
When I took the decisions, I made use of two decision-making tools so that I could take effective
decisions as they were related to my future.
 Decision tree: Decision tree is the first decision-making tool that I used while taking the
decisions. A decision tree is the diagram representing the major decision and the outcomes
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attached to it (Aliev & Huseynov, 2014). This proved very effective decision-making tool for
me as I was able to choose the right thing for me.
 T-Chart: T-chart was another decision-making tool that I used to take the decisions
(Banerjee & Banerjee, (2017). The T-chart helped me to evaluate the pros and cons of all the
alternatives available to me and then I was able to take the effective decision for my future.
Evaluation of decisions
In my opinion, all the decisions that I took, whether major or minor proved to be advantageous
for me as waking up early in the morning helped me to gain peace of mind and also a healthy
body and exercises and yoga are very beneficial for a person. It also provided me with more time
to do things. Now I am able to do some extra activities which are useful for me. If I talk about
the major decision of choosing the subject of business decision analytics, this decision also
proved beneficial for me as I am able to improve my weak areas like effective communication
skills and critical thinking skills that will help me in my future.
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Visual representation of data
Given below is the visual representation of the decision-making tools that I used to take my
decisions:
T-Chart
(Fig. 1: T-Chart)
(Source: By author)
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Option A Option B
Pros and Cons of option BPros and Cons of option B

Decision tree
(Fig. 2: Decision tree)
(Source: Bu author)
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Future Career option
Doctor Entrepreneur
No interest No success Succesfull
entrepreneur
Leadership
skill

References
 Aliev, R., & Huseynov, O. (2014). Decision theory with imperfect information. Hackensack
New Jersey: World Scientific. (2014). Retrieved July 4, 2019, from:
http://web.b.ebscohost.com.ezproxy.laureate.net.au/ehost/ebookviewer/ebook/
bmxlYmtfXzgzOTY0OV9fQU41?sid=2d77d5d9-c3c5-487e-954a-
c1a9e0ef6bb8@sessionmgr102&vid=0&format=EB&rid=1
 Banerjee, A., & Banerjee, T. (2017). Weaving analytics for effective decision making. New
Delhi, India: SAGE Publications India Pvt. (2017). Retrieved July 4, 2019, from:
http://web.b.ebscohost.com.ezproxy.laureate.net.au/ehost/ebookviewer/ebook/
bmxlYmtfXzE1ODU0ODdfX0FO0?sid=55f8a0b4-f918-4085-9ff1-
cd3e261547fc@sessionmgr102&vid=0&format=EB&rid=1
 Das, T. (Ed.). (2016). Decision making in behavioral strategy (Research in behavioral
strategy). Charlotte, NC: Information Age Publishing. (2016). Retrieved July 4, 2019, from:
http://web.b.ebscohost.com.ezproxy.laureate.net.au/ehost/ebookviewer/ebook/
bmxlYmtfXzE0MjQyNzFfX0FO0?sid=d21948bc-e9da-4037-99cb-2e3895854fe5@pdc-v-
sessmgr03&vid=0&format=EB&rid=1
 Sund, K., Galavan, R., & Huff, A. (Eds.). (2016). Uncertainty and strategic decision
making (New horizons in managerial and organizational cognition). Bingley: Emerald.
(2016). Retrieved July 4, 2019. From:
http://web.a.ebscohost.com.ezproxy.laureate.net.au/ehost/ebookviewer/ebook/
bmxlYmtfXzE0MjM3MzBfX0FO0?sid=9e306d7d-523c-4a1f-b3b4-48103a1ab316@sdc-v-
sessmgr03&vid=0&format=EB&rid=1
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