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Question & Answers

MGT602 Business Decision Analytics

ASSESSMENT 1 BRIEF
Subject Code and Title	MGT602 Business Decision Analytics
Assessment	Decision Style Analysis Reflective report
Individual/Group	Individual
Length	Up to 1000 words
Learning Outcomes	a) 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 b) Compare, contrast and critically evaluate sources of data as influences for decision-making in a range of business contexts
Submission	12 week class: By 11:55pm AEST Friday of Module 2.2 (Week 4) Intensive class: By 11.55 pm AEST Sunday end of Module 2.2 (week 2)
Weighting	20%
Total Marks	20 marks

Context:

Fast changing workplace demands in the 21^st 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:

Decisions actually made during a one- week period (select from weeks 1-3)
1-2 major decisions you have made
Your decision-making preferences (see activity Module 1)
Personality style/ strengths and their impact on your decision-making style, bias and blind spots
Reflection on feedback and insights from at least three class members
Sources of data and use of decision-making tools to make decisions
Evaluation of those decisions and their significance
Visual interpretation of data / trends/ patterns
References from weeks 1-4 (modules 1-2) subject learning resources that demonstrate your reading, understanding and ability to apply effective decision-making

Expert's Answer

Decision making requires knowledge about the problem at hand. The knowledge comes from the information that can be used to solve the problem , while information is processed through the availability of the relevant data. The art of decision making lies in the connectedness and understanding of each of these phenomena. For example,