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GSB014 Business Decision Making And Analysis

tag 0 Download 11 Pages / 2,687 Words tag 06-07-2021

Question:

The decisions made in organisations at both strategic and operational levels can have significant implications for success or failure, reputation and morale. For many organisations, little thought is given to the nature of decision-making – the complexity of decisions, the inherent biases of decision-makers, the validity of inputs used to inform decisions, agreed decision-making processes and support systems, when and how to involve stakeholders, responsibilities of participants and the effective communication of decisionmaking outcomes. This course aims to address these issues by developing awareness and competency inmaking thorough, insightful, effective and creative strategic and key operational decisions in line with organisational resources and capabilities.

Knowledge and Understanding

This course is designed to provide students with an understanding of:

  • The decision making environment

o decision making approaches quantitative, qualitative, rational and intuitive

o modelling, forecasting and scenario planning approaches

o decision making processes, phases of the process

o probability, uncertainty and their influence on decision handling and outcomes

o political, resource limitation, human bias and other decision modifiers

  • Decision making activities

o using ‘soft’ and ‘hard’ approaches to identify and define problems or opportunities

o consultation techniques for problem/opportunity exploration and clarification

o techniques for handling risk and uncertainty

o managing time, information and differing personal perspectives and worldviews

o analysis, selection and communication of decision outcomes

o factors contributing to a ‘wise’ choice; the creative decision making group

Learning Outcomes

Following completion of this course, participants should be able to:

  1. Describe the key phases of strategic and operational decision-making processes and assess the effectiveness of decision-making within an organisation.
  2. Identify and apply appropriate rational, quantitative, qualitative and intuitive approaches to making decisions in a range of organisational circumstances.
  3. Recognise the different forms of bias that can inhibit effective decision-making and ways that they may be overcome.
  4. Act independently or collaboratively as a member of a decision-making group in the process of making business decisions.
  5. Apply a systems or holistic perspective to the development and implementation of business decisions within an organisation.
  6. Demonstrate a high order of skill in analysis, critical thinking, communication and professional application.
  7. Demonstrate creativity and flexibility in the application of knowledge and skills to new situations, to resolve problems and to think rigorously and independently.

Plagiarism is the term used to describe the situation where a student has used the words of  authors, corporate writers, journalists or other students without acknowledgement. It is the practice of passing of other peoples’ work as one’s own. In an academic sense it is stealing.

Whether one plagiarises intentionally or unintentionally, both constitute academic misconduct at ABS and indeed at any other academic institution.

The penalties for plagiarism range from a fail for the particular assignment or for a whole course to exclusion from the study program.

Plagiarism is best avoided by

  • Careful planning and allowing adequate time for any writing tasks
  • Carefully noting sources of information during the research phase of your writing task and correctly identifying authorship details
  • Stringently ensuring that the author of each idea, concept or piece of information used in the framework and argument of your written document is correctly cited intext and in your References List
  • Being familiar with your academic institutions preferred system of academic referencing.
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Total 11 pages

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My Assignment Help. (2021). GSB014 Business Decision Making And Analysis. Retrieved from https://myassignmenthelp.com/free-samples/gsb014-business-decision-making-analysis/financial-policies-and-valuation.html.

My Assignment Help (2021) GSB014 Business Decision Making And Analysis [Online]. Available from: https://myassignmenthelp.com/free-samples/gsb014-business-decision-making-analysis/financial-policies-and-valuation.html
[Accessed 30 January 2023].

My Assignment Help. 'GSB014 Business Decision Making And Analysis' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/gsb014-business-decision-making-analysis/financial-policies-and-valuation.html> accessed 30 January 2023.

My Assignment Help. GSB014 Business Decision Making And Analysis [Internet]. My Assignment Help. 2021 [cited 30 January 2023]. Available from: https://myassignmenthelp.com/free-samples/gsb014-business-decision-making-analysis/financial-policies-and-valuation.html.


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