MGT602_Assess 1_Decision Style Analysis Page 1 of 4 ASSESSMENT 1 BRIEF Subject Code and Title MGT602 Business Decision Analytics Assessment Decision Style Analysis Reflective report Individual/Group...

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MGT602_Assess 1_Decision Style Analysis Page 1 of 4 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 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: 1. Decisions actually made during a one- week period (select from weeks 1-3) 2. 1-2 major decisions you have made 3. Your decision-making preferences (see activity Module 1) 4. Personality style/ strengths and their impact on your decision-making style, bias and blind spots 5. Reflection on feedback and insights from at least three class members 6. Sources of data and use of decision-making tools to make decisions 7. Evaluation of those decisions and their significance 8. Visual interpretation of data / trends/ patterns MGT602_Assess 1_Decision Style Analysis Page 2 of 4 9. References from weeks 1-4 (modules 1-2) subject learning resources that demonstrate your reading, understanding and ability to apply effective decision-making tools. MGT602_Assess 1_Decision Style Analysis Page 3 of 4  Please Note: Your Decision Style Analysis is a Reflexive Writing piece - You should write in the first person, because this is about YOU, your reflections and your interpretations. (e.g. “I considered this advice to be…... because it had a big impact on me……...and it helped me to understand my………...”). Try to be as specific as possible, use brief concrete examples from your real experience to illustrate and demonstrate learning outcomes (see grading rubric). All principles of academic integrity apply, including acknowledgement of all sources in your report and a corresponding list of all references cited in your report, using APA 6th edition reference style. Only list references that have been cited by you. The APA referencing guide can be located in the Academic Writing Guide at http://library.think.edu.au/ld.php?content_id=1882254 1. Submit Assessment 1 in Turn-it-In; obtain your report. 2. Upload Assessment 1 PLUS the TII Report via the Assessment link in MGT602 Business Decision Analytics on the Student Portal for Blackboard. Then press ‘SUBMIT’. 3. The Learning Facilitator will provide feedback via the Grade Centre in the Student Portal. The rubric below summarises the grading criteria and standards required for each grade. http://library.think.edu.au/ld.php?content_id=1882254 MGT602_ Assess 1_ Decision Style Analysis Page 3 of 4 Learning Rubric: MGT 602 Assessment One Decision Style Analysis 20 % (20 marks) Assessment Criteria Fail (Unacceptable) 0-49% Pass (Functional) 50-64% Credit (Proficient) 65-74% Distinction (Advanced) 75 -84% High Distinction (Exceptional) 85-100% 1. Reflect on a range of personal daily decisions and one major decision to analyse and evaluate sources of data, decision-making style and decision-making tools. (25% -5/20) Little or no authentic personal reflection on daily decisions or major decision. No, or limited analysis or evaluation of sources of data input, decision-making styles and tools. Some personal reflection on daily decision-making and major decision-making is evident, with reference to at least two sources of data, decision-making styles and tools. A clearly authentic personal reflection on daily decision-making and major decision-making is evident, with clear analysis and evaluation of at least two sources of data, decision-making styles and tools. Comprehensive reflection on daily decision-making and major decision-making is evident, with clear analysis and evaluation of at least three sources of data, decision- making styles and tools. Comprehensive and sophisticated reflection on daily decision-making and major decision-making is evident, with explicit analysis and evaluation of multiple sources of data, decision-making styles and tools. 2. Compare and contrast with other decision-making styles and processes to identify bias and blind spots (25% -5/20) Little or no evidence of discussions and feedback from classmates about bias and blind spots or comparison with other decision-making styles Some evidence of discussion with two classmates and comparative analysis of decision-making styles and the implication of bias and blind spots for own decision-making. Clear evidence of discussion with at least two classmates and comparative analysis of decision- making styles and the implication of bias and blind spots for own decision-making Comprehensive evidence of discussion with at least three classmates and comparative analysis of decision-making styles and the implication of bias and blind spots for own decision-making Sophisticated analysis and comparison of decision-making styles and the implication of bias and blind spots for decision- making. Feedback from at least three classmates is discussed with recommendations to enhance own decision-making 3.Prepare a business style report with headings and content that includes visual representation of the data (25%-5/20) Report lacks logical coherence and clear structure Limited data analysis and no visual representation of data. Report has basic logical flow and structure. Basic concepts and analysis are explained Attempts basic visual representation of data. Report has a clear logical flow and structure, Clear expression of concepts and analysis. Adequate visual representation of data trends/ patterns Report has a strong logical flow and structure. Accurate Executive Summary. Conclusion accurately captures key learning. Clear visual representation of data trends/ patterns Excellent logic and structure. Concise, accurate Executive Summary Conclusion accurately captures deep learning and insights. Creative and engaging visual representation of data trends/ patterns. 4.Support your report with references to key readings from the subject resources weeks 1-4 (25%- 5/20) No, or few references from within subject learning resources weeks 1-4 (modules 1-2) Many errors in text citations and reference list according to APA referencing guidelines. Makes some attempt to use relevant references from within subject learning resources weeks 1-4 (modules 1-2) Several major and minor errors in text citations and reference list according to APA referencing guidelines. References support an adequate argument and application of major concepts from within subject learning resources weeks 1-4 (modules 1-2) Several minor errors in text citations and reference list according to APA referencing guidelines. References support a mostly comprehensive argument and application of major concepts from within subject learning resources weeks 1-4 (modules 1-2). Strong level of accuracy of in-text citations and reference list according to APA 6th ed. style guidelines Sophisticated references support comprehensive argument and application of major concepts from within subject learning resources weeks 1-4 (modules 1-2 and beyond). High level of accuracy of in-text citations and reference list according to APA 6th ed. style guidelines. MGT602_ Assess 1_ Decision Style Analysis Page 4 of 4
Answered Same DayDec 22, 2021MGT602

Answer To: MGT602_Assess 1_Decision Style Analysis Page 1 of 4 ASSESSMENT 1 BRIEF Subject Code and Title MGT602...

Dilpreet answered on Dec 23 2021
145 Votes
Running Head: Decision style analysis        1
Decision style analysis         
DECISION STYLE ANALYSIS
Executive summary
In the changing business environment for an individual or an organisation to grow it is important that optimum decisions
are made, which may help in sustainable growth and development. In order to make quick decisions with high quality it is important that managers in organisations or individuals in personal life may analyse their decision preferences and make use of efficient tools to make most accurate and effective decisions.
Table of contents
Introduction    4
Major decision making models    4
Rational model    4
Simon’s normative model    5
Identifying the decision preferences and tools    5
Feedback from classmates    7
Comparison and contrast    7
Conclusion    7
References    9
Introduction
    In the spontaneously changing environment within the business organisations, it is extremely important to develop skills and quick, efficient and effective decisions. These decisions should be based on the knowledge gained or the data available so as to ensure that the decision made is accurate and reliable. The decisions made are influenced greatly by the values and biases of an individual taking the decision (Ferrel and Fraedrich, 2015). In this report I shall reflect on the decision making tools and preferences, which I personally prefer to use. I shall also represent a contrasting and comparative view of my preferences with other business or personal decisions.
Major decision making models
    Making efficient and effective decisions is a difficult task both at the professional and personal level. Decision making can be facilitated by making use of decision making models. Some of the most common decision making models, which I are extremely beneficial are discussed below:
Rational model
    In my opinion rational model of decision making is easily understandable and is one of the most classical approaches that may assist me in making efficient and effective decisions quickly. This model assists in decision making through four simple steps:
1. Identification of the problem
2. Determining the alternative solutions
3. Deciding upon or selecting a solution
4. Implementation and evaluation of the problem
Simon’s normative model
    This model is based on the premise that process of decision making is not a rational...
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