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MOD000978 Decision Making And Problem Solving

tag 0 Download 14 Pages / 3,375 Words tag 22-07-2021

Question:

You are the managers of a large, multinational company which manufactures and sells white goods.  The company has a product range of over 10 different models of washing machines and refrigerators, total international employees of approximately 2,200, 2 large factories in Poland and retail outlets in Europe and Australia.

There are some investment funds available through a loan from a UK bank and the CEO of your company is considering the following two possibilities for company development:

  • Acquiring a new, modern production method for both factories which would potentially cut costs and reduce labour by up to 500 staff.
  • Establishing retail outlets in another continent.

The CEO has also asked his managers to identify a third option for him to consider for the company to invest in.  The CEO wishes to implement only one development project at this time.

Produce and deliver a 20 minute presentation where you discuss what issues need to be considered when deciding whether to pursue either of the two possible development possibilities.  Include a potential third possible investment for a company of this nature and discuss what would need to be considered when deciding whether to pursue it.

Include in your presentation what additional information you would need to make the final decision on which of the three potential options the company might implement.

Evaluate how one of these three development possibilities could be implemented and how to overcome the challenges the company might face in implementation.

elect and describe a recent major decision / problem / issue tackled by your organisation or one with which you are familiar (module tutor will advise on this where necessary), including a description of the approach the organisation took to tackle it. 

Guidance: Students should be justifying their choice of problem, not just describing the problem, supported with justification from organisational data.  The justification should include introductory theory on problem solving to support why the student selected this decision.  The student should describe the approach to decision making and problem solving taking by the organisation, not just the solution reached.

Critically appraise the approaches used by the organisation, suggesting how they could have been improved, or other approaches that could have been used, and what decision making and problem solving techniques would have been most appropriate for this decision or problem. (Learning Outcomes 1-4)

Guidance: Good answers here will be supporting their evaluation with theory, and providing other options and arguing the optimal way of tackling this problem or decision.  Students should support their proposed options with evidence from theory, and potentially other contemporary companies’ successes and failures.

Discuss the way in which solutions and decisions generated for question two would best be implemented for the organisation to achieve maximum success.

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Total 14 pages

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My Assignment Help. 'MOD000978 Decision Making And Problem Solving' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/mod000978-decision-making-and-problem-solving/cognitive-processes.html> accessed 27 January 2023.

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