Torrens University MGT602: Business Decision Making Tools Report

This report provides a comprehensive analysis of decision-making tools and techniques relevant to business and leadership management. It begins by exploring the theoretical perspectives on decision-making, examining individual decision-making styles, and reviewing relevant literature on the decision-making process. The report then delves into specific decision-making tools such as decision trees, the garbage can model, and decision matrices, highlighting their applications and benefits. It also discusses various decision-making techniques, including cost-benefit analysis and SWOT analysis. The report incorporates the student's personal reflection on their decision-making style and experiences. The report also covers the strategic decision-making process and provides insights into how to make high-quality decisions effectively. The report is contributed by a student to Desklib, a platform offering AI-powered study tools.

Running head: MANAGEMENT
DECISION MAKING TOOLS
Name of the Student:
Name of the University:
Author Note:

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Executive summary
It has been identified that Based on the decision making abilities, the behavioural perspectives as
well as psychological strength of a person can be analysed. Decisions are being considered as the
process in which based on the requirement, the actions are being adopted by human. By
continuing this it can also be said that with the effective uses of various decision making tools it
becomes easier for the organisation to deal with the emerging challenges. The decision Matrix
highlights the values as well as systematically identity of an organisation through the decision
Matrix the rate of performance of an organisation can be identified based on the relationship
between information and values. In order to describe the multi criteria decision analysis the
decision matrix is been introduced through the decision Matrix alternative options against a
particular issue is been identified.

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Table of contents
Introduction......................................................................................................................................4
Theoretical perspectives on adopted decisions................................................................................4
Reflection of decision making style................................................................................................5
Literature review on decision making process................................................................................6
Decision making tools.....................................................................................................................8
Decision making techniques..........................................................................................................10
Conclusion.....................................................................................................................................11
Reference list and bibliography.....................................................................................................12

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Introduction
Decisions are being considered as the process in which based on the requirement, the actions are
being adopted by human (Riaz & Khalili, 2014). Based on the decision making abilities, the
behavioural perspectives as well as psychological strength of a person can be analysed. The
purpose of this study is to focus on managing highlight different decision making methods and
tools which are needed in case of ensuring the quality standard in performance. By continuing
this it can also be said that based on the personal abilities and its impact on the decision making
process have been highlighted, which can indirectly influence the decision making ability.
Research methodology
Using the Big five personality test, it has been identified that I have moderate openness. This
quality of mine can ensure my cultural as well as art abilities of mine, which can drive my
decision making abilities. I believe, due to my interest in improving the culture can ensure the
quality standard in the academic sector. This denotes that I follow the team decision making
style. I can give opportunity to my team members to provide their opinion and based of the
collected feedbacks I develop my final decision.
Theoretical perspectives on adopted decisions
Decision making is being considered as the innovative trend that helps to increase the problem
solving ability of individuals. Using the effective decision making tool, adaptive nature of
individuals can be analysed. By continuing this, it can be said that the decision making
perspectives of the organizations are being developed based on the relevant tools and models. In
relation to introduce effective decision making abilities as well as operating in the diversified
global economic situation, effective decision making tools are being introduced.

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Decision making techniques
Decision making techniques and important rule for improving the decision outcomes in an
organisation. Decision making techniques helps to enhance the uniqueness as well as decision
making abilities of individuals with effective use of multiple criteria decision analysis technique
the good compromise between Institution and the systematic Framework can be evaluated
against a particular issue (Schwartz, 2016). Dr Charles HK Pune and Dr Benjamin developed this
multiple criteria decision analysis technique. On the other hand paired comparison analysis is
another important decision making technique that helps to compare the importance of the
organisational actions. By highlighting the criteria for supporting decision alternatives it makes
the decision making process easier for the developer. Analytic hierarchy process is been
considered as the upgraded version of multiple criteria technique this help to make the
comparison between subjectivity and institution. Based on this decision making technique
addressing the decision problems in the mathematical form becomes easier. Analysing decision
making technique it can be said that this is a very complex process and most of the cases the
organisations face failure in terms of implementing this technique in the operational process.
Personality
Based on the different styles of decision making it is being classified into four types. Autocratic,
Delegating, team and consultative are the four divisions of decision making style. Depending on
the diversified organizational situations, each leadership practices are being implemented.
However, in case of team engagement decision making style, the interference of subordinates
can create the challenges in case of implementing the effective decision making practices. Some
of the cases, independent views of mine can create decision making challenges. By continuing
this, it can also be said that an independent decision maker can effectively develop the decision.

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In that case, both thee risk as well as success credits are being given to the decision maker.
Analysing my capabilities, it has been identified that I am a true achiever and can be able to
develop strategic commands. This quality of mine denotes that I can be able to develop the
decisions without making any major mistake. Based on the team management leadership style, it
can develop my cooperative nature that can help me to develop my leadership abilities. The
decision Matrix highlights the values as well as systematically identity of an organisation
through the decision Matrix the rate of performance of an organisation can be identified based on
the relationship between information and values. In order to describe the multi criteria decision
analysis the decision matrix is been introduced through the decision Matrix alternative options
against a particular issue is been identified.
Decision making style
Based on the cost benefit analysis , benefits as well as losses are being calculated. Based on the
changes as well as the process of decision making, the theoretical implications are being done. In
order to analyse the critical areas in an organization, the cost benefit analysis tool helps to
manage the operational effectiveness in the workplace. On the other hand, it is also true that in
terms of gaining the competitive benefits, with the effective use of cost benefit decision making
tool, priority actions can be managed. In the cost benefit analysis process, operational
effectiveness is being maintained in case of satisfying the needs of the customers.
SWOT analysis is another important decision making tool that develops the framework on
strength, weakness, opportunities and threats. On the other hand, it can be said that based on the
SWOT analysis, the capabilities of a particular decision can be analysed. In order to evaluate the
competencies as well as capabilities, this analytical tool helps to maintain the sustainable

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position in the market. In order to initiate the effective uses of organizational resources, the
SWOT analysis helps to deal with the diverse market situations (Riaz & Khalili, 2014).
Introduction of decision
Being a team leader four decisions have been adopted by me while performing the job role.
Being an important part of Torren University. It is my responsibility is to ensure the quality
standard in the university so that the effective relationship with the students can be managed. On
the other hand, ensuring thee knowledge management process in the University, I have adopted
the decision for understanding the strength and weaknesses of my team members. Using this
decision making abilities, we have adopted the decision for analysing the emerging problems in
the university.
Literature review on decision making process
In order to gain the competitive benefits in the market, it is very important for developing
diverse range of models, which can effectively utilize the intellectual resources of a decision
maker. Analysing the emerging situation in Torren University, it has been identified that
ensuring the quality standard in the company has become one of the important challenges. In
order to ensure the long term sustainability goals, it is very important for the university to
introduce effective decision making processes (Wei, 2016). Following the five stages of decision
making, the decision can be effectively implemented in the Torren University. Political tactics
are important for ensuring the positive performances in the company. Decisions are being
considered as the process in which based on the requirement, the actions are being adopted by
human. Based on the decision making abilities, the behavioural perspectives as well as
psychological strength of a person can be analysed. Based on the decision making abilities, the
behavioural perspectives as well as psychological strength of a person can be analysed. The

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purpose of this study is to focus on managing highlight different decision making methods and
tools which are needed in case of ensuring the quality standard in performance. The purpose of
this study is to focus on managing highlight different decision making methods and tools which
are needed in case of ensuring the quality standard in performance. By continuing this, it can also
be said that based on the strategic initiatives towards the decision making process, both the
informal and formal behaviour of people can be managed. Based on the understanding of level of
conflicts, re-examining ability of individuals can play an effective role for ensuring the positive
decision making ability (Austin et al., 2015).
Figure: Decision making model
(Source: Riaz & Khalili, 2014)
In order to ensure the continuous interaction with the team members, evaluation of decision
making process is needed. Analysing the decision making model, it has been identified that in

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the first step, the problem is being identified. After the identification of problem, decision criteria
is being highlighted based on the needs of situation (Shapiro & Stefkovich, 2016). In the third
stage, alternative suggestions are being provided against the particular situation. In the fourth
stage the alternative solutions are being developed. In the fifth stage, evaluation processes are
being introduced against thee alternatives. Sixth stage is being called as the final stage in which
among alternatives, one solution is being selected.
Decision making tools
Decision tree
Figure 3. Decision tree
(Sources: created by author)
Decision tree is being considered as the effective structure that helps to investigate the possible
consequences in an organization. By developing the decision tree it becomes easier for
maintaining the balance between the risks and rewards in a particular organization. By adding
the branches in the decision tree, possible results of a particular decision can be assumed. These

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results are being developed for increasing time as well as values in a particular organization. By
continuing this, it can also be said that an independent decision maker can effectively develop
the decision. In that case, both thee risk as well as success credits are being given to the decision
maker.
Garbage can model
Figure: Garbage can model
Source:
Garbage can theory indicates the chaotic reality in every organizations. By comparing the
traditional decision making model and Garbage can theory, it can be said that in the Garbage can
theory, rules and regulations are being focused. As per this theory, without having rules, modern
organizations cannot be able to adopt the decision making theory (Azadnia, Saman & Wong,
2015). Without developing the unnecessary solutions, it becomes challenging for the
organizations to adopt the solutions against a particular problem. Both the existing as well as
non-existing solutions can be introduced through the effective implementation of garbage can
model in decision making process. On the other hand, it is also true that based on the choice
opportunities for developing an effective decision against a particular problem is being treated as

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the garbage, as many problems are thrown like garbage. In the Garbage can model, decision
streams is being considered as an important factor for understanding the dependent streams such
as solutions, participants problems and choice opportunities. The problems which are being
originated from the outside of the organization can also be solved based on this decision making
tool.
Decision Matrix
The decision Matrix highlights the values as well as systematically identity of an organisation
through the decision Matrix the rate of performance of an organisation can be identified based on
the relationship between information and values (Obonyo& Anumba, 2017). In order to describe
the multi criteria decision analysis the decision matrix is been introduced through the decision
Matrix alternative options against a particular issue is been identified. In order to highlight the
research problem the decision Matrix helps to evaluate the values in numerical from where the
representation of performance alternatives help the developer to take right decision.
Conclusion
In this study it can be concluded that the decision making process is being considered as one of
the important factor for ensuring the successful organisational performance. By continuing this it
can also be said that with the effective uses of various decision making tools it becomes easier
for the organisation to deal with the emerging challenges. being a team leader in Torren
University, I can say that the decision making style which have been mentioned in this study
effectively helps to identify strength weaknesses of the organisational process it can also play an
important role for ensuring that academic quality standard in the University.

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Reference list and bibliography
Austin, C. A., Mohottige, D., Sudore, R. L., Smith, A. K., & Hanson, L. C. (2015). Tools to
promote shared decision making in serious illness: a systematic review. JAMA internal
medicine, 175(7), 1213-1221.
Azadnia, A. H., Saman, M. Z. M., & Wong, K. Y. (2015). Sustainable supplier selection and
order lot-sizing: an integrated multi-objective decision-making process. International
Journal of Production Research, 53(2), 383-408.
Lei, N., & Moon, S. K. (2015). A Decision Support System for market-driven product
positioning and design. Decision Support Systems, 69, 82-91. Retrieved from
https://www.sciencedirect.com/science/article/pii/S0167923614002772
Obonyo, E., & Anumba, C. (2017). 19 The multi-agent paradigm in construction e-business and
its use in the next generation of data-driven decision-making tools. In Advances in
Construction ICT and e-Business. Taylor and Francis Inc..
Riaz, M. N., & Khalili, M. T. (2014). Transformational, transactional leadership and rational
decision making in services providing organizations: Moderating role of knowlbenefits
management processes. Pakistan Journal of Commerce and Social Sciences
(PJCSS), 8(2), 355-364.
Schwartz, M. S. (2016). Ethical decision-making theory: An integrated approach. Journal of
Business Ethics, 139(4), 755-776.
Shapiro, J. P., & Stefkovich, J. A. (2016). Ethical leadership and decision making in education:
Applying theoretical perspectives to complex dilemmas. Routledge.