MGT602 Business Decision Analytics: Decision Making Report

This report provides a comprehensive analysis of decision-making processes in a business context. It begins with an introduction to the significance of decision-making in organizational effectiveness and profitability. The report then delves into the selection and evaluation of various decision-making tools, such as cost-benefit and SWOT analyses, highlighting their usefulness in enhancing competitive processes. It also reflects on individual decision-making styles, contrasting autocratic approaches with consultative and team-based methods. A literature review examines the influence of decision-making in different business contexts, using examples like Coles and Apple Inc. to illustrate the impact of leadership and stakeholder involvement. The report further explores decision-making systems and techniques for group decisions, including the use of decision-making models and the importance of communication and trust within teams. Finally, it critically examines emerging tools and technologies that are reshaping decision-making capabilities in the global economy. The report concludes by summarizing the key findings and implications for effective decision-making in modern business environments.

Running head: DECISION MAKING
DECISION MAKING
Name of the student
Name of the university
Author note

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Table of Contents
1. Introduction..................................................................................................................................2
1.1 Selection and evaluation of the usefulness of a range of decision making tools...................2
1.2 Reflection on individual decision making styles and contrast with other styles...................4
2. Literature review on the influence decision-making in a range of business contexts.................5
3. Examination of decision making systems and techniques to engage group decisions
and analysis of the sustainable outcomes........................................................................................6
3.1 Critical examination of the emerging tools and technologies for decision making..............8
4. Conclusion...................................................................................................................................9
References......................................................................................................................................10

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1. Introduction
Decision making plays a major role in continuing with the effectiveness of the
organizations through suitable design of the processes. Ghattas, Soffer and Peleg (2014) noted
that the long term goals of an organization is based on the diverse strategies that are designed by
the businesses. In this relation, the strategies of an organization is based on the decision making
process of the units. Organizations utilize a variety of decision making tools for ensuring the
long term sustenance and profitability of the venture. The purpose for undertaking the research is
to identify a range of decision making tools and the manner in which it assist an organization in
enhancing the competitive processes. On the other hand, the research also aimed at reflecting on
the individual decision making style with the aim of continuing with the effectiveness of the
processes. The research will also aim at evaluating the diverse factors that influence the decision
making styles in organizations through corporate examples. It will assist in analyzing the most
obvious decision making models that are utilized by the organizations in order to adhere to the
parity. Lastly, the research will evaluate the emerging decision making tools and the manner in
which it will influence the decision making capabilities of the organizations while operating in
diverse global economies.
1.1 Selection and evaluation of the usefulness of a range of decision making tools
Decision making aspects of the organizations are dependent on the evaluation of the
organizational situation through the application of relevant tools and models. The tools and
models assist an organization in initiating an insight on the position of the units while operating
in diverse global economies. In this relation, the section will aim at discussing the diverse tools

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that influence decision making systems in an organization and the manner in which it helped the
ventures in gaining a competitive benefits in the economies.
 Cost- Benefit analysis: A cost benefit analysis assist an organization in summing up the
benefits of a situation or an action through subtracting the costs that might be incurred by
the same through the change in the processes (Riaz & Khalili, 2014). The cost benefit
analysis assist an organization in analyzing the critical areas where change might be
considered with the aim of continuing with the effectiveness of the operations while
gaining a competitive benefits in the global economies. The development of the cost
benefit analysis supports an organization in keeping up with the effectiveness of the
operations in adherence to the demand of the customers (Halpern & Stern, 2018). On the
other hand, the analysis assists an organization in analyzing and prioritizing the actions
in adherence to the objectives of gaining a competitive benefits in the economies. The
delineation of the costs that might be incurred by the organizations provides the same
with an insight of the residue that will be left after the implementation of the decision in
the organizational framework. Therefore, the cost benefit analysis assists an organization
in initiating the operations through an understanding of the costs that might be incurred
by the same.
 SWOT Analysis: The SWOT analysis framework assist an organization in analyzing the
diverse strengths and weaknesses of the units in the internal processes. It provides the
companies with an insight on the capabilities of the units in implementing a decision on
the framework or designing a substitute process (George & Lin, 2017). On the other
hand, the opportunities and threats assist an organization in initiating an insight of the
opportunities and threats that might be encountered by a venture in the external

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economies. The overall evaluation of the capabilities and competencies of an
organization assist the same in continuing with the equilibrium of the operations that
might be considered by the same in order to keep up with its sustenance in the global
economies (Hoefer & Green Jr, 2016). Therefore, SWOT evaluation assists an
organization in initiating the resources while adhering to the sustenance related
requirements of the units in the diverse market situations.
1.2 Reflection on individual decision making styles and contrast with other styles
The decision making of an individual is being classified under four major divisions like
Autocratic, Consultative, Team and Delegating. Each of the style is unique and holds diverse
implications on the organizational operations. The diverse aspects of the decision making styles
are dependent on the approach of leadership that is followed by the entrepreneur. I believe in
Autocratic decision making which emphasizes on the decisions that are considered by the
entrepreneurs on their own. The autocratic decision making has helped me in initiating the
operations without the interference of the subordinates. I believe that the interference of the
subordinates affect the decision making process through induction of confusion.
However, the autocratic style of decision making is vastly diverse from that of the
consultative or team engagement as it does not encourage the subordinates or the team members
to participate in the decision making process. However, the decision making process has certain
issues in the concept as it emphasizes on the independence of the decision maker to take
decisions without including the subordinates. Therefore, the decisions that are considered by an
Autocratic decision maker might enhance the amount of risks in the venture through unclear
ideas or lack of suitable understanding of the business position in the market.

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2. Literature review on the influence decision-making in a range of business contexts
. The vision of the leader and the assumptions that are considered by the same assists an
organization in gaining competitive benefits in the global economies. Schwartz (2016) stated
that the diverse range of models that are utilized by the leaders assist the same in initiating the
process design while adhering to the market condition for sustenance. The delineation of the
diverse internal and external capabilities of the organizations assists the same in continuing with
the effectiveness of the operations while initiating the processes. On the other hand, Scott
(2015) opined that the evaluation of the capabilities and competencies of the organizations assist
the management in enhancing the decision making process for covering the long term goals of
sustainability. For an example, Coles, the Australian retail organization, has taken steps to
evaluate the market position of the units in the market and thereby supported the decision
making process through the involvement of the stakeholders (Li, Ashkanasy & Ahlstrom,
(2014). The active involvement of the stakeholders in the business decision making process
assisted the concerned organization in initiating its resources and innovativeness for gaining a
competitive benefits .
The leadership approach refines the decision making process that is being considered by
the same in adherence to the objectives of sustainable growth of the business ventures. In this
relation, Miska, Hilbe and Mayer (2014) opined that the decision making skills of an individual
is based on the outlook and the inclusiveness of the units while operating in an organizational
context. Hoefer and Green Jr (2016) noted that the open communication based policies of an
organization assist the venture in continuing with the effectiveness of the decision making

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process for maximizing the rate of innovativeness of the units. The collaborative functioning of
the management with the stakeholders assists an organization in strengthening the decision
making framework that is being adhered by the same for enhanced productivity. For an example,
Apple Inc. collaborates with the employees with the aim of enhancing the decision making
process. Riaz and Khalili (2014) opined that the active involvement of the stakeholders in the
decision making process of an organization assist the same in initiating the operations for
enhancing the rate of innovations. The concerned organization has taken steps to encourage the
active participation of the stakeholders in the decision making process of the venture for
supporting the innovativeness of the units. The diverse positive changes that are considered by
the organization are dependent on the information that is passed on to the hierarchy of
management and the manner in which the decisions are considered on a collaborative basis.
3. Examination of decision making systems and techniques to engage group decisions
and analysis of the sustainable outcomes
K. Roehrich, Grosvold and U. Hoejmose (2014) noted that the evolution of the decision
making systems in organizations are dependent on the active involvement of the stakeholders in
the same. In this relation, the continuous interaction with the team members assists the
supervisor in enhancing the decision making capabilities of the units through evaluation of the
diverse capabilities and competencies. The evaluation of the diverse capabilities and
competencies of the businesses assist an organization in initiating an insight on the diverse
steps that might be considered by the same. Communication and trust among the team members
assist the supervisor in initiating the decision making capabilities of the units. Larson and
Chang (2016) stated that the involvement of the stakeholders in the decision making process

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assist an organization in initiating the skills to encourage disruptive innovation in the
processes. On the other hand, the free flow of information among the team members assists a
team supervisor in analyzing the major competencies that might be encountered by the same
while gaining a competitive benefits.
Figure: Decision making model
(Source: Halpern & Stern, 2018)
The supervisor undertakes steps to evaluate the situation that is being faced by the team
for a thorough understanding of the strategies that might be implemented by the same for
betterment. The evaluation of the contingencies and the competencies assist the leader in
analyzing possible alternative solutions for avoiding the contingency. The alternative solution s
of the organization is considered through consultation with the chief stakeholders. Janssen,
van der Voort and Wahyudi (2017) stated that consultation with the stakeholders assist an

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organization in encouraging the involvement of the units in the processes. The consultation
process involves brainstorming of ideas and opinions for enhancing the decision making process
of the venture. The alternative solutions are tested by the supervisor through the utilization of
diverse decision making tools like parity analysis and cost benefit, which assist the same in
prioritizing the operations and thereby selecting a single option as the most effective decision
(George & Lin, 2017). The final decision of the council or the board is implemented on the
team through the active involvement of the stakeholders.
The systematic functioning of the decision making process assists the leaders in
continuing with the effectiveness of the operations which assist an organization in improving
the position. On the other hand, the consultation with the team members assist an organizational
leader in initiating the processes more effectively based on the evaluation of the sustenance
related needs. Moreover, the involvement of the stakeholders in the decision making process of
the organization, through consultation, assists the same in enhancing the rate of change readiness
among the stakeholders. Therefore, the diverse changes that are considered by the organizations
are dependent on the smooth functioning of the decision making systems through the active
involvement of the stakeholders in the process.
3.1 Critical examination of the emerging tools and technologies for decision making
The decision making process that is being utilized by the organizations are mainly
dependent on the evaluation of the market position of the units. Ghattas, Soffer and Peleg
(2014) stated that the market related information assist an organization in continuing with the
effectiveness of the decision making process through the understanding of the competencies
and capabilities of the units in diverse business environments. Therefore, Big Data might be
taken as an emerging tool for supporting the decision making processes of the organizations. The

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application of Big Data analytics in the decision making model of the organization assist the
same in retrieving important data on the position of the business (Wang, Kung & Byrd, 2018).
The thorough identification of the position of the venture in the economies assist the same in
analyzing the possible strategies that might be implemented by the same for enhancing the
sustainability of the venture (Shaik & Abdul-Kader, 2014). Therefore, Big Data might be taken
as an important source which has assisted the organizations in continuing with the
effectiveness of the decision making process while adhering to the changing market trends.
4. Conclusion
Therefore, from the above discussion it might be noted that the development of the
decision making process through the involvement of the stakeholders assist an organization in
enhancing the process de sign. On the other hand, the research also aimed at analyzing the major
factors that influence the decision making capabilities of the organizations. The research
idealized diverse decision making tools which assist organizations in continuing with the
effectiveness of the operations in adherenceto the needs of gaining a competitive benefits in
the economies.

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References
George, G., & Lin, Y. (2017). Analytics, innovation, and organizational
adaptation. Innovation, 19(1), 16-22.
Ghattas, J., Soffer, P., & Peleg, M. (2014). Improving business process decision making based
on past experience. Decision Support Systems, 59, 93-107.
Halpern, J. J., & Stern, R. C. (Eds.). (2018). Debating rationality: Nonrational aspects of
organizational decision making. Cornell University Press.
Hoefer, R. L., & Green Jr, S. E. (2016). A rhetorical model of institutional decision making: The
role of rhetoric in the formation and change of legitimacy judgments. Academy of
Management Review, 41(1), 130-150.
Janssen, M., van der Voort, H., & Wahyudi, A. (2017). Factors influencing big data decision-
making quality. Journal of Business Research, 70, 338-345.
K. Roehrich, J., Grosvold, J., & U. Hoejmose, S. (2014). Reputational risks and sustainable
supply chain management: Decision making under bounded rationality. International
Journal of Operations & Production Management, 34(5), 695-719.
Larson, D., & Chang, V. (2016). A review and future direction of agile, business intelligence,
analytics and data science. International Journal of Information Management, 36(5),
700-710.

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Li, Y., Ashkanasy, N. M., & Ahlstrom, D. (2014). The rationality of emotions: A hybrid process
model of decision-making under uncertainty. Asia Pacific Journal of Management, 31(1),
293-308.
Miska, C., Hilbe, C., & Mayer, S. (2014). Reconciling diverse views on responsible leadership:
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Riaz, M. N., & Khalili, M. T. (2014). Transformational, transactional leadership and rational
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Schwartz, M. S. (2016). Ethical decision-making theory: An integrated approach. Journal of
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Scott, W. R. (2015). Organizations and organizing: Rational, natural and open systems
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Shaik, M. N., & Abdul-Kader, W. (2014). Comprehensive performance measurement and causal-
effect decision making model for reverse logistics enterprise. Computers & Industrial
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Wang, Y., Kung, L., & Byrd, T. A. (2018). Big data analytics: Understanding its capabilities and
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