Influencing and Decision Making for Elders Limited- myassignmenthelp

Question: Discuss about theInfluencing and Decision Making for Elders Limited. Answer: Introduction Decision-making is a vital part of planning process. In all management functions, decision-making and problem solving plays a very significant role. While running a business or working in an organization, making right decisions may lead to success, whereas, wrong decisions can result to failure. There are wide ranges of decision-making tools and techniques, decision-making styles and one need to be conscious about what type of decision-making process and techniques to consider. Discussed below four (4) case study of an area of indecision that are recently occurring. Sko-Die is a manufacturing company where the two generations namely, Gen X and Gen Y are clashing in the workplace. The management team are facing problem, as they are unable to take any proper decisions. Since, the Gen Y employees have been in the company for a short amount of time, they have a very little loyalty or reason to stay in the workplace. Elders Limited is a food and beverage company, which with the rise of the cost of materials and wages, profits proves to be low. Due to the unfortunate situation, the company needs to let some employees go. Therefore, the company needs to hold a meeting because none is on the list. Here company faces problem as they lack to take any decision regarding how many workers to sustain in the workforce for reducing the cost of wages. Boral Limited is a construction company and has a supervisor of a five person work group. The team manager has approved the purchase of one new computer for the group. The computer will go to one of the five employees. An individuals capability to work may highly vary, but in a group the capability of all the group members leads to the groups success. So, in this case the company faces priority based problem to judge which employee to give the computer, when and on what basis. Mr Paul is a supervisor in B9 Region. He supervises 8 employees who are Field inspectors and supporting staffs. The Field inspectors travel within the region to survey and other state occupied buildings for compliance with state policies and guidelines for risk management. The risk mananegment policies and guidelines are a bit complex, so there is a need for the Field inspector to be skilled at interpretating the policies and understanding on how the policies and guidelines apply in a wide variety of risk management senario found in state occupied buildings[1]. Most of the performance problems began when the state policies and guidelines were overhauled. From the above four cases, B9 Region case is taken into consideration. Given below the methods relating to the tools, techniques and skills used in decision making. Decision making tools and techniques There are different decision-making tools and techniques, among which some are implemented in the B9 Region with the help of Mr. Paul, are as follows: Decision matrix A decision matrix is used to evaluate all decisional options. While using a matrix, one can create a table with all the options in the first column and factors relating it in the first row. Then one needs to score each option with the respective weigh of factors. At last, the final score is tallied to find out the best option. In this decision matrix made in B9 Region T-Chart is used to weigh the plus and minus of the options[2]. While making a decision, all the plus signs and minus signs are taken into consideration. Pareto analysis It is a technique used for finding large number of decisions in B9 Region. It helps in prioritizing which one should be done first based on its decisions, which are having greatest impact. Here cost benefit technique is used in weighing the fiscal ramifications of each possible alternative and at last coming to the final decision and makes the most meaningful sense in respect to economic perspective[3]. Decision making Styles In B9 Region organization, the decision-making is crucial and important. If I take any wrong decision, then its impact seem to be enormous and critical. So, I have to think repeatedly before taking a solid and concrete decision[4]. In the B9 Region, I have implemented three (3) decision-making styles, they are rational, intuitive and spontaneous than the dependent and avoidant decisional styles: Rational Rational decision-making style normally prefers a structured and reasonable approach. Before making such type of decisions, I need to have all relevant information and then only i can come out with a specific decision. It also helps in evaluating the pros and cons of each decision. This decision making style is applied in context surroundings big risks which includes big amounts of money. Intuitive I in B9 region case, with intuitive decision-making style seems to be confident and prefer to take decisions listening to my inner voice. Spontaneous Spontaneous decision-making style is based on the impulsive decision making style, which is oftenly taking by the decision maker in B9 region. Here the Field inspector travels to other state without the knowledge of others. Group decision making Group decision making is a process where the multiple individuals act cooperatively, analyze problems or situations, evaluate the alternative course of actions and finally select the solution or alternatives of the solution. The number of people in a group decision making varies from the range of two to seven[5]. Benefits of Group Decision Making Group decision making is advantageous of its group diverse strengths and expertise. By combining the unique qualities of each individual group member, the group as a whole can generate greater number of alternatives, which proves to be of higher quality than the individual[6]. Generating higher quality of solution becomes sure that the group will definitely reach in providing superior problem solution than the individual. Weaknesses of Group Decision-making Groups prove to be slower in taking any decisions than the individuals, so it becomes difficult to implement those decisions in situations where urgent decisions are required. Group polarization seems to be one of the disadvantages of the group decision-making process. It is the tendency of the group to congregate on facing more extreme solutions to a problem[7]. Compare, contrast and critically evaluate sources of data for decision-making in respect to B9 Region context The data driven decisions prove to be better decisions in the business sector as it helps in understanding the decision more effectively. Firstly, the volume of data manifested each day is increasing day by day. Secondly, the speed of data creation is becoming more decisive in nature. Thirdly, the variety sources of data are gained through messages, updates and through images of social network[8]. This helps to reduce the complexities. Two factors are essential for managing a big data, they are: Firstly, clear strategy should be build based on the implementation of data and analytics. Secondly, organize the best and right technological architecture. Conclusion Decision-making and problem solving plays a vital role for the successful growth in the competition market. Hence, we conclude that group decision-making proves to be more important and significant than the individual decision-making and discussed above with the help of a case study. 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