Reference no: EM133578806

Business Decision Analytics

Assessment - Research Analysis Report

Learning Outcome 1: Select and evaluate the usefulness of a range of decision- making tools and reflect on your decision-making styles and contrast with other styles to determine the respective levels of rationality and intuition utilised

Learning Outcome 2: Compare, contrast and critically evaluate sources of data as influences for decision-making in a range of business contexts

Learning Outcome 3: Examine and evaluate decision-making systems and techniques to engage group decisions and analyse how these can enhance sustainable outcomes

Learning Outcome 4: Critically examine emerging tools and technologies for decision making

Context:
Workplaces today are changing rapidly in parallel with rapid advances in technology and means of communication with teams separated by distance and time. We need to take into account not only time and space, but other elements of diversity to collaborate effectively for organisational outcomes. In such complex environments much can be learned by observing and analysing the decision-making process of business managers. This task requires you to select a decision you have observed in the work place that addresses the assessment topic.

This assessment has been designed to:

Critically reflect on the application of key concepts and theories of MGT602 in the analysis of a decision from your current or previous workplace. In doing so, you MUST consider the meaningful work challenge or topic provided to you by the Learning Facilitator that you were involved in, or observed another person or persons make. If you do not have previous workplace management experience, then you must analyse the group decision-making processes undertaken by your team in Assessment task 2.

In successfully completing this assessment task you are to:

Reflect on a business issue as provided by your learning facilitator in which you have had personal experience. Evaluate the sources of data, and the use of data analytics to identify trends/ patterns that form the evidence for the decision-maker.

Utilise appropriate visualisation of the decision-making process, and analytics to support the decision making;

Select between three decision-making models and concepts from within the subject modules and show their application in analyzing the decision. Evaluate how the decision would be the same/ different by using different theories or concepts.

Present the findings of your results in a business style report that includes clear headings to guide the reader and visualisation of the data sources/trends/ patterns, and is underpinned with evidence from relevant contemporary literature.

Reference according to the APA reference style guide

Report format
Executive Summary: 150 words maximum. The executive summary is a summation of the report. Included are the case being analysed; the data and evidence collected; the theories used and associated conclusion; and the overall findings.

Table of contents.
Introduction: 200 words maximum. The introduction will present the reader with a clear and concise understanding of the following: 1. What is the report about; 2. What theories will be used; 3 Your concise conclusion; and 4 The structure of the submission

Analysis and evaluation: 1600 words maximum. In this section you will reflect on your experience of the topic provided by your learning facilitator. As part of the personal reflection, you will analyse and evaluate at least three decision-making processes or models using selected theories and concepts from MGT602 modules and critique your experience of these processes and theories..

Conclusion: 200 words maximum. In this section you will provide a concise summation of your analysis and conclusion(s).

References: A minimum of 10 academic references are required from seminal sources and books.

Assessment 1
In this assessment you are to use the decision-making models suggested in the Assessment 1 brief. You must show written and visual evidence of the use of those models in addressing the following decision-making issue.
Analyse why you have undertaken postgraduate study. The important emphasis here is on what you hope to gain from this extra level of education, balanced by the various covert and overt expenses you will incur.
This is not a historical record of what occurred to get you to this stage, but rather WHY you chose to undertake further study utilising the few decision models we have covered so far in class.

Assessment 2 Group Case Study

According to many current business sources, one of the key challenges facing businesses going into 2024 will be the effective use of human resource management.

Human resource management

Enhanced neural network capabilities and an increased number of remote workers, especially in IT, make adjustments to the future labour market. Still, despite the AI drastic development, it cannot fully replace humans. And it is a non-trivial task to consider the human factor in a system that is constantly becoming more complex.

Fortunately, the issue of managing a growing workforce is a common business problem. There are a number of efficient solutions for HR management, including complex and free ones, especially for small and medium businesses.

The topic you are to address is to research specific business decision processes that will help address the key business challenge of successful human resource management. Additionally, your team needs to look at options to successfully incorporate HRM capacity in the immediate future.
There are many options to address the HRM challenges which may include but not limited to emerging technology.
It is important that you analyse the various issues at hand and compare and contrast them accordingly. Furthermore, your team must utilise examples from at least 3 different companies where HR is identified as a key management issue. Your report should offer recommendations to address and neutralise this business challenge.

You will need to utilise different decision-making models that you have covered in this subject to date to help address these issues.
It is highly recommended that you utilise issues that face the industry that YOU currently work in or have worked in previously.

In summary

Your team will need to critically analyse and evaluate alternatives to address this issue.
Your team will need to look at the relevant decision-making models that are or may be utilised to address the issue.
Your team will need to propose a list of recommendations to address the issue.
You must support your research with relevant data and use appropriate visuals to enhance the report.
Your team will also need to address all other criteria required from the assessment brief.

Assessment 3

This assessment is primarily developed to give you an opportunity to deal with real-world situations you will encounter in business.
Recent research has shown that a majority of companies have embraced a Focus on Sustainability
Research from IBM and the National Retail Federation shows that half of US consumers say they're willing to pay more for sustainable products, and 62% of consumers are willing to change their shopping habits in order to reduce their environmental impact.
Globally, reports show that 85% of people have changed their purchasing habits to become more sustainable in the past five years.
Businesses are responding to this consumer demand by paying special attention to their ESG processes.
However, a McKinsey survey found the business results for the bottom line might not be quite that promising yet. In their survey, only 22% of respondents reported achieving modest or significant value from their sustainability efforts in the past five years.