|ASSESSMENT 1 BRIEF|
|Subject Code and Title||MGT602 Business Decision Analytics|
|Assessment||Decision Style Analysis Reflective report|
|Length||Up to 1000 words|
Fast changing workplace demands in the 21st century call for greater flexibility in the ways individuals and work teams make and implement decisions.
This assessment draws on learning activities and resources from weeks 1-4. It is designed for you to record and reflect on the decision-making preferences, processes and tools that you use personally on a daily basis and compare and contrast this with one or two major personal or business decisions. You should include in your reflective report:
Decision Style Analysis Reflective report
Decisions actually made during a one- week period
According to Akinici & Sadler-Smith (2012), the intuition in the decision-making process can lead to the inclusion of important oversight on the part of the managers. The decision that was taken during the period was that the individual decision-making process is much more apt for a corporate culture due to its various advantages. Due to the non-engagement of the different members of the group, some discrepancies always slip through the cracks and lead to inefficient decisions being made. Cook & Gonzales (2016) also states that the scrutiny of the decisions made by the managers of the business by the employees and subordinates often lead to error detection and helps refine the decision-making process. The individual decision-making process is also speedier and momentary decisions can be made without any lagging that has an impact on the operational efficiency of the business.
1-2 major decisions you have made
The two major decisions that were made are as follows:
a. Quasirationality of the decisions being taken by the management of the company is also often the determinant of the contextual application (Dhami & Thomson, 2012). The idea of the use of intuition and cognitive thinking for taking accurate decisions by the leaders of the company can have deeper impacts on the organizations and its output itself.
b. It was also decided that the use of the conventional means of thinking and reasoning may often lead to redundant decisions being made that affects the effectiveness of the decisions themselves (Klein, 2009). The decision-making process should be adaptive and conform to their needs. The idea for the decisions to be rooted in wisdom and information should be a metric for the judgement.
Your decision-making preferences
I prefer an individualistic approach to the decision-making process. It is due to the complexities of the group based decision-making process that has led me to believe that the idea of the members not being able to work and accept other members can have adverse effects on the management decisions. I also believe that not being authoritarian in the decision-making process but make the use of the quasirational principles to have engaged employees while the decisions are being made by me. I can take quick and spur of the moment decisions that can work with the same vigor and effectiveness as well. My references also include mixing intuition from experience to drive the thinking process for making the decisions that can have future relevance and impacts.
Personality style/ strengths and their impact on your decision-making style, bias and blind spots
According to Phillips et al. (2016), personal goals and strengths can have an impact on the decision-making style of the managers of the company. The people who are more controlling in their management style would often lead to the authoritarian leadership style that takes all the decisions by oneself. The bias is also responsible as it impairs the ability of the professional to take valid considerations such as the context, nuances of time, skills of the employees and others for the decision making process. The bias is also often interpreted in the form of blind spots as it blinds the person from seeing the actual facts and as always decisions based on wrong facts will always have disastrous effects. The personality style is also often affected by bias and blind spots.
Reflection on feedback and insights from at least three class members
Student 1: The friend reiterated the idea that the use of the individualistic approach is better than the group-based decision-making process. While he also said that the personal traits of the leader should also be realized in order to function properly.
Student 2: The student disagreed that individualistic approach is better. He believes that the use of the group-based decision-making process has more minds at work and so would elicit better solutions to the problems and detect error more prudently.
Student 3: The third student said that the use of the cognitive ability of the professional combined with intuition has the most benefit. This would combine the contextual references as well as court the speediness of the individual decision-making process to make the decisions more effective.
Sources of data and use of decision-making tools to make decisions
The sources of data such as the skills of the employees of the company can be utilized by the leader as well as the requirements of the tasks to make the decisions. The decision-making tools such as the Cognitive Continuum Theory can also help the managers of the business to take into consideration the various facets of conditions of the business (Ishizaka & Siraj, 2018).
Evaluation of those decisions and their significance
The decisions for the consideration of the individualistic approach for the decisions making process are apt as it combines the speed and adaptability. The significance of the decisions is on the value it adds. The differences of the group members may result in a deadlock or it may lead to errors being undetected. The decisions and their significance are for the contextual use of the theories as well as the information that is available at the disposal of the leaders for making the decisions. This approach is thus a
Visual interpretation of data / trends/ patterns
The visual interpretation of the trends and patterns would help the leader to detect and take into stride the characters of the employees of the business. The idea for the use of the data and the trends would help the business to maintain contextual relevance of the decisions that are taken by the leaders. The value that is added with the identification of the data, trends and patterns would cause for the information to be assimilated into the decision making process. The visual interpretation thus helps shape the decisions based on facts whilst the individualistic approach takes into account intuition. The combination of facts and intuition can help the leaders to take proper and justified decisions.