MGT602 - Business Decision Analytics: Decision Making Analysis Report

This report analyzes the student's decision-making style, focusing on personal experiences and contrasting them with different decision-making models. The student reflects on decisions made, including buying a phone and planning a dinner, highlighting the influence of peers, impulsive behavior, and the impact of rational versus irrational approaches. The report discusses the rational decision-making model, emphasizing the importance of research and analysis. The student provides feedback from colleagues and references relevant literature to support the analysis. The assignment fulfills the requirements of a reflective report for a Business Decision Analytics course, exploring the interplay of rationality, intuition, and external factors in decision-making processes, including the student's experiences in choosing a postgraduate course.

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

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Personality style, strengths and their impact on the decision-making style
Decisions that are initiated in the individual levels are reliant on the understanding the
outcome of the different operations that are commenced by the people. The delineation of
different feasible options and examination of the different outcomes supports in enumerating the
course of action. In this relation, I decided to buy a Samsung s10 for my sister’s birthday on a
short notice. The decision was taken by me after retrieving a set of feedbacks from my peers on
the quality of the handset and the performance that is being promised by the organization. I
visited the store and searched for handsets that would fit into my budget after which I decided to
finally buy Samsung S10 for my sister. The decision of buying my sister a new handset for her
birthday drove my actions after evaluating the price and the quality of the handset. I relied more
on the responses that were forwarded by my peers on the quality and the performance of the
handset.
The buy was made on a short notice of a week which minimized the time of my research
on the quality and performance. Lieder, Griffiths and Hsu (2018) opined that the dependence of
the decisions on the assessment of the situation supports an organization in developing the
potency of the same while operating in the different markets. In this relation, I believe that I
developed a biased decision, which was specifically based on the feedbacks that were provided
by the peers as the loyalty of the same might have affected my decision of buying the handset.
On the other hand, I presume that I am easily influenced by the others while initiating an activity
or taking a decision. It is a specific side of my personality which might have affected my
decision while making a buy of the product in a short notice. It has affected my capacity of
balancing my decision with the needs of the situation.

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On the other hand, I planned a dinner in the Sydney Eye tower in a weekend with my
cousins. The decision and the venue selection was done at haste without proper inspection of the
venue or the offerings. Cascetta et al. (2015) opined that the decisions that are undertaken by the
individuals support the same in enhancing the rate of operations while minimizing the chances of
failure. However, lack of sufficient research on the venue and the propositions affected the
capacity of decision making. The dinner was planned on a short notice and I am often
preoccupied with my work which affected my capacity of researching on the different possible
alternative venues. In this relation, I asked my colleagues on the quality of the offerings and
relying on their feedbacks I booked a table for us. The food was cheap, however, the service was
not up to the mark which affected the experience.
The lack of suitable research and analysis of the different alternatives affected my
capacity of choosing the best suited restaurant. On the other hand, the lack of efficient rational
decision making affected my choice of the restaurant. I believe that I take my decisions based on
the impulse which restricts me to initiate a suitable research before commencing with the
operations. Groeneveld et al. (2017) opined that impulsive decision making restricts the capacity
of the individuals in identifying the different alternative course of actions that might be
considered. On the other hand, Baumann et al. (2014) stated that the enumeration of the rational
decision making enhances the capacity of an individual in evaluating the different alternatives.
Again, the lack of rational decision making capacity of the people restricts their capacity of
maintaining the efficacy of the activities. Therefore, the impulsive buying behavior affected my
capacity of evaluating the different possible outcomes of the activities.
However, the past decision of studying in Torrens University for my post graduate degree
on Business information System was effective, as it was undertaken by me after suitable research

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on the operations. The decision was taken by me after proper evaluation of the different
alternative courses that were offered by the university and the other universities in the area.
However, the slowed decision making process made me wait for a year as the term was over for
the session. The evaluation of the feasible outcomes might have supported me in developing the
efficiency of the decision making systems but the delayed decision affected my course plan.
Appropriate decision making skills, in this relation, supported me in enhancing the career options
for me. The evaluation of different alternatives and assessment of the feasibility of the options
supported me in devising the best possible college for gathering skills for the operations.
Rational decision making model
Lieder, Griffiths and Hsu (2018) stated that appropriate research and analysis of the
different alternatives supports an organization or an individual in improving the rate of
operations. On the other hand, the lack of efficient rational decision making might affect the rate
of operations of the individual. The enumeration of the rational decision making enhances the
capacity of an individual in evaluating the different alternatives. The definition of the problem or
need, delineation of the alternatives, evaluation and choice of the correct alternative while
operating in the different markets.

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Figure 1: Rational decision making model
(Source: Lieder, Griffiths & Hsu, 2018)
Feedback from the peers
The decisions that were taken by me were evaluated by three of my colleagues and they
provided feedbacks on the same. The feedback are being listed in this section.
Feedback 1
One of my peers stated that I could have taken steps to undertake an assessment of the
different best brands of mobiles before making a buy of for my sister. The assessment of the
different potential brands and their offerings would have supported me in making a choice of the
best mobile in a lower price apart from asking my colleagues on their biased opinions relying on
brand loyalty. The expectations of the customers are mostly fulfilled by the brand offering and
the rand name. In this relation, my colleague stated that the application of rational decision-
making before making a buy of the mobile cod have eased the situation and assisted me in
buying the best product.

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Feedback 2
One of my peer also advised me to follow the ratings that are provided by the customers
before making the decision of visiting the restaurant. It would have supported me in identifying
the proposition that is being proposed by the organization and the feasibility of the same in
alignment with my own preferences.
Feedback 3
A peer stated that my rational decision making assisted me in choosing the best career
route for driving my future course. However, he also commented that I might have taken steps to
speed up the evaluation process for the alternative course of actions, which would have
supported me in grabbing the best possible instance for the development.

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References
Baumann, D. J., Fluke, J. D., Dalgleish, L., & Kern, H. (2014). The decision making
ecology. From evidence to outcomes in child welfare: An international reader, 24-40.
Cascetta, E., Carteni, A., Pagliara, F., & Montanino, M. (2015). A new look at planning and
designing transportation systems: A decision-making model based on cognitive
rationality, stakeholder engagement and quantitative methods. Transport policy, 38, 27-
39.
Groeneveld, J., Müller, B., Buchmann, C. M., Dressler, G., Guo, C., Hase, N., ... & Liebelt, V.
(2017). Theoretical foundations of human decision-making in agent-based land use
models–A review. Environmental modelling & software, 87, 39-48.
Lieder, F., Griffiths, T. L., & Hsu, M. (2018). Overrepresentation of extreme events in decision
making reflects rational use of cognitive resources. Psychological review, 125(1), 1.