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5 EFFECTIVENESS OF DECISION THAT ARE MADE UNDER DIFFERENT TYPE OF CONSTRAINTS Weightage: 20% Submitted by: Sujan Thapa Student Id: 12069994 Melbourne campus, CQUniversity Submitted to: Dr. Md Tarikul Islam Lecturer, Melbourne campus. CQUniversity Table of Contents Problem statement3 Aim and Objectives:3 Methodology:4 Literature review and data collection:4 Secondary data:4 Data analysis:4 Qualitative approach:4 Quantitative approach:4 References:5 Problem statement Every successful organization has achieved its success from a decision made at a point of their struggle. A planned and well-developed decision and effective execution is a key for the success. Just a thrown decision is not the point here, strategic decision is which converts an organization’s dream into reality. Making decision for managers is important not only for operation and success of organization but it must consider employees and other stakeholders (Negulschu & Doval, 2014). Decisions are always made under some constraints. Every decision made under different constraints may have its different effectiveness. An effective decision depends upon understanding and appreciation of constraints of the environment (Dean & Sharfman, 1996). Such as pressure from time, clients, work load, stress, pressure from boss etc all things matter in the quality of decision made at that time and measures the effectiveness that decision. Situation, time and environment greatly affects the quality of decision made by any managers or professionals (Ytangi et al, 2012). Age, gender and risk-taking capabilities in an individual are also governing factors for an effective decision (Lauriola & Levin, 2001). This concludes that decisions made under certain constraints have their different level of effectiveness. For instance, a decision made within a time frame and without a time frame has by far vast difference. Aim and Objectives: The core aim of this research is to investigate the relation between the effectiveness of decision that are made under different type of constraints. The objectives which will justify this research aim will be, · To study the effectiveness of decision made under time pressure · To create a data supporting the result for my finding · To find how different constraint determine productivity of a decision · To find how to take best decisions under different constraint · To evaluate ways to deal with different constraint and decide an effective decision. Methodology: Literature review and data collection: Literature on the topic of effectiveness of decision that are made under pressure and the results brought by that decision will be studied. Organization and success mainly depends upon this decision made under various factors. So, literature available will be studied and reviewed as a reference. Literature will be collected from university online library, text books from university library in Melbourne campus, from google scholar, and some other online resources like websites and blogs. Secondary data: Secondary data would be collected related to this topic from sources available. Information in accordance with decisions that are made under pressure will be considered most. Since, environmental factors affect the effectiveness of decision made and research has been done under various constraints, secondary data will be collected from these researches but only for reference. Further, data will be collected from surveys (questionnaire, email), interviews, online survey. Data analysis: To analyse the matter, various data will be collected and interviews will be conducted with organizational peoples. Not only this, online surveys will also be done. Qualitative approach: Questionnaire will be prepared and requested via online and email to staff of various organization through online sources. Also, there will be discussion with effectiveness matter with willing employee of some organizations. Quantitative approach: The analysed data will be showed up in chart and bar graph between the constraints and effectiveness of the decision. References: Byrne, Silasi-Mansat, & Worthy. (2015). Who chokes under pressure? The Big Five personality traits and decision-making under pressure. Personality and Individual Differences, 74, 22-28. Dean, J.W & Sharfman, M.P. (1996). Does decision process matter? A study of strategic decision making effectiveness. Academy of management journal, 39(2), 368-396. Negulescu, O. & Doval, E. (2014). The quality of decision making process related to organizations’ effectiveness. Procedia economics and finance, 15, 858-863. Ytangi, O. Ewarum, U.J.F., Upere, W.I. (2012). Evaluation of decision making criteria with special references to quantitative and qualitative paradigms. African journal of business management, 6(44), 1110-1117. 1 Investigation of EFFECTIVENESS OF DECISIONs THAT ARE MADE UNDER various DIFFERENT TYPE OF CONSTRAINTS Weightage: 20% Submitted by: Sujan Thapa Student Id: 12069994 Melbourne campus, CQUniversity Submitted to: Dr. Md Tarikul Islam Lecturer, Melbourne campus. CQUniversity Table of Contents Problem statement3 Aim and Objectives:3 Methodology:4 Literature review and data collection:4 Secondary data:4 Data analysis:4 Qualitative approach:4 Quantitative approach:4 References:5 BUSN20016: Assessment of Assignment 1 Criteria Total marks Marks Obtained 1. A brief statement of the problem, research aim and objectives 4 3 2.A brief methodology 4 2.5 3. Sources of secondary data, data presentation and analysis methods 4 2 4. Accurate referencing, use of correct English and logical sequences between sentences and paragraphs 4 2.5 5. Topic presentation (for on-campus students)/ topic discussion on the unit Moodle side (for distance mode students) 4 3 Total = 20 13 Penalty for late submission (5% reduction for each day of late submission) Penalty for high level of Turnitin similarity (Marker/UC decides) GRAND TOTAL = Problem statement Every successful organization has achieved its success from a decision made at a point of their struggle. A planned and well-developed decision and effective execution is a key for the success. Just a thrown decision is not the point here, strategic decision is which converts an organization’s dream into reality. Making decision for managers is important not only for operation and success of organization but it must consider employees and other stakeholders (Negulschu & Doval, 2014). Decisions are always made under some constraints. Every decision made under different constraints may have its different effectiveness. An effective decision depends upon understanding and appreciation of constraints of the environment (Dean & Sharfman, 1996). Such as pressure from time, clients, work load, stress, pressure from boss top level management etc. all things matter in the quality of decision made at that time and measures the effectiveness that decision. Situation, time and environment greatly affects the quality of decision made by any managers or professionals (Ytangi et al, 2012). Age, gender and risk-taking capabilities in an individual are also governing factors for an effective decision (Lauriola & Levin, 2001). This concludes that decisions made under certain constraints have their different level of effectiveness. For instance, a decision made within a time frame and without a time frame has by far vast difference. Comment by tarikul islam: You have defined the importance of decision making and decision made under various constraints in effectiveness of the decisions. You now need to summarise the discussion to link with the research problem. Aim and Objectives: The core aim of this research is to investigate the relation between the effectiveness of decision that are made under different type of constraints. The objectives which will justify this research aim will be, · To study the effectiveness of decision made under time pressure · To create a data supporting the result for my finding · To find how different constraint determine productivity of a decision · To find how to take best decisions under different constraint · To evaluate ways to deal with different constraint and decide an effective decision. Methodology: Literature review and data collection:Comment by tarikul islam: Be aware that this is not a part of the research problem. Literature on the topic of effectiveness of decision that are made under pressure and the results brought by that decision will be studied. Organization and success mainly depends upon this decision made under various factors. So, literature available will be studied and reviewed as a reference. Literature will be collected from university online library, text books from university library in Melbourne campus, from google scholar, and some other online resources like websites and blogs. Secondary data:Comment by tarikul islam: You need to specify the sources. You will be marked down if you failed to mention this in your final project proposal (Assignment 3).Also need to say what data from these sources that you collect and to address what objectives.Whether these data are available online or have access to anyone to do research. Secondary data would be collected related to this topic from sources available. Information in accordance with decisions that are made under pressure will be considered most. Since, environmental factors affect the effectiveness of decision made and research has been done under various constraints, secondary data will be collected from these researches but only for reference. Further, data will be collected from surveys (questionnaire, email), interviews, online survey. Data analysis:Comment by tarikul islam: Unclear! Refer to the relevant chapter of the textbook and fix this issue in the assignment 3 otherwise you will be marked down. To analyse the matter, various data will be collected and interviews will be conducted with organizational peoples. Not only this, online surveys will also be done. Qualitative approach: Comment by tarikul islam: Confusing, you must fix this in the research proposal. Questionnaire will be prepared and requested via online and email to staff of various organization through online sources. Also, there will be discussion with effectiveness matter with willing employee of some organizations. Quantitative approach: The analysed data will be showed up in chart and bar graph between the constraints and effectiveness of the decision. References:Comment by tarikul islam: Review thoroughly the APA referencing guidelines and follow them strictly to avoid penalty of marks reduction in the assignment 3. Byrne, Silasi-Mansat, & Worthy. (2015). Who chokes under pressure? The Big Five personality traits and decision-making under pressure. Personality and Individual Differences, 74, 22-28. Dean, J.W & Sharfman, M.P. (1996). Does decision process matter? A study of strategic decision making effectiveness. Academy of management journal, 39(2), 368-396. Negulescu, O. & Doval, E. (2014). The quality of decision making process related to organizations’ effectiveness. Procedia economics and finance, 15, 858-863. Ytangi, O. Ewarum, U.J.F., Upere, W.I. (2012). Evaluation of decision making criteria with special references to quantitative and qualitative paradigms. African journal of business management, 6(44), 1110-1117. 1 BUSN20016 RESEARCH IN BUSINESS, T2, 2017 ASSESSMENT 3 Project Title: Comparative analysis on impact of adopting design thinking on four chosen Australian banks NAME OF THE STUDENT: Student ID: Tutor’s name: Campus: ASSESSMENT SHEET Criteria Total marks Marks obtained Overall comments A statement of the