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Business Decision Analytics

Assessment - Decision Style Analysis Reflective 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.

Context:
Fast changing workplaces call for greater flexibility in the ways individuals and work teams make and implement decisions. Alongside the increasing rate of change are the demands for better decision making through understanding and mitigating personal preferences and biases.

This assessment has been designed to:
• Appraise your ability to research academic literature on decision making. You are expected to utilise the literature provided in Modules 1 and 2 as a foundation that guides your further academic research.
• Select and evaluate the usefulness of a range of decision-making tools and reflect on levels of rationality and intuition utilised during the decision-making process.
• Compare, contrast and critically evaluate sources of data as influences in the decision-making context
• Identify the relevant sources of influence and limitations in your decision-decision making process

It is designed for you to engage in the decision-making process and then reflectively analyse your decision-making process using only theories and concepts from the Business Decision Analytics course (MGT602).
You should include in your reflective report:
• The decision-making problem detailed by your learning facilitator
• Analysis of your decision-making preferences (see activity Module 1)
• Analysis and influence of your personality traits and the impact on your decision-making
• Details of the sources of data collected during the decision-making process and how this data was evaluated/analysed
• Analysis of the decision-making process using any of the models discussed in Modules 1 and 2
plus any of your further relevant readings
• Analysis of written feedback from at least 2 other people from within the MGT602 class on your decision-making process in the topic nominated by your Learning Facilitator
• Discussion of your biases and blind spots uncovered from research of your personality traits and feedback from your peers.

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.
In this assessment you are to critically reflect on the application of key concepts and theories of MGT602 in the analysis and adaptation to a focus on sustainability as identified from your current or previous workplace. In doing so, you MUST consider a meaningful challenge that YOU encountered or observed another person or persons make. You need to research and address

the various elements of this important decision-making environment that has been covered in your classes this trimester.
If you do not have previous workplace management experience, then you must analyse the challenges that your team experienced in the group decision-making processes undertaken by the team in Assessment task 2. This analysis should be based on your personal perceptions, not the group's. This is a reflective assessment, not a descriptive essay.
To successfully address this assessment, you will need to review the models we addressed throughout the trimester or others that you have come across through your studies this trimester and use them to back up your analysis.