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BUMGT5980 Managerial Decision Making

Question

Answered

Questions:

In this assignment you are expected to follow the problem solving stages (start with course Topics 1-3) to identify a specific problem, generate and evaluate solutions and devise an implementation plan.
You should take some time to identify a problem suitable for this assignment. This may have been, say, a past problem you’ve encountered at work, a situation reported in the media or a case study based on a fictitious scenario. Your task is to address this problem in a new way by application of tools and methods starting with those enunciated by Wood et al. (2009). Four more (at minimum) academic references should be cited in the report.
Specific tasks or report elements:
1. Problem background
2. Problem definition
3. Solution generation
4. Solution evaluation
5. Implementation and action plan
 
Marking criteria – Items listed below do not necessarily carry equal weight:
General criteria:
Structure – appropriate, professional, and accessible
Process – reasoned, coherent and consistent
Solution – original, compelling, and justified
Application of appropriate tools and techniques
Professional presentation including referencing
 
Specific criteria
Problem identification – validity and clarity
Solution generation – creativity and scope
Solution evaluation – logical and practical
Implementation – relevant issues considered
Action plan – consistent, rational, and succinct
 
Notes:
1. You should provide in the report a statement that specifies in clear and succinct terms the problem that is to be addressed.
2. The problem should be specific. To ensure this, the problem is likely to focus on or at an organisation’s operational level rather than at the more broad strategic level of operations.
3. A review, detailed description or theory-based evaluation of problem solving or other tools or concepts is not required. This assignment requires application only of the tool to assist or direct the problem solving process. Nevertheless, the limitation of applied tools may be
accounted for in the report with regard to the efficacy of the chosen solution.
4. A clear solution to the problem (see note 1 above) is required. This chosen solution is to be specified within a plan with the assumption that this plan will be implemented by the organisation at a later point.
5. Submit the report as a word document. Use left justified (not centred!), 12 point font and 1.5 spacing. The reference style is APA. Marks may be deducted where this criteria is not met.
6. Headings, figures, tables and diagrams where appropriate are encouraged.

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