Week 7
This week, you will pull all of your knowledge together from each week and compile new ideas or parallel ideas that can help improve the decision-making process. So far, you have covered the process of making a decision and the many complexities associated with the process, as well as advantages to an effective process. You have explored decision-making to problem-solving in a unique and strategic way to ensure the correct problem is being identified and investigated. You have given problem solving a process as well. You explored the application of strategic decision-making to support the organizational mission, vision, and values and pass them on to the employees and consumers. You also learned the importance of redesigning a department/process in order to enhance the outcome, which will increase motivation.
Finally, you moved into the last section of the course to utilize technology and the vast amount of data that can be generated and applied to increase decision-making and advance the organization. Through this class, you will expand your knowledge and understanding of the importance of making a decision and developing and implementing an effective process for a successful outcome. Thinking back on each week of the class and the organization(s) you have studied, begin the final assignment.
For the final assignment, you will become familiar with quantitative analytical methods and technology tools that will aid managers in effective decision-making. Quantitative analytical methods involve inputs, algorithms, and outputs. The inputs take the form of numerical data, algorithms take the form of mathematical formulas, and outputs typically take the form of numerical data such as optimal solutions and forecasts, but they can also take the form of new or modified formulas.
Since many quantitative analytical methods are quite complex, and because they may be applied to a tremendous amount of data, computer technology is often needed to utilize them. For example, Material Requirements Planning (MRP) is an analytical method used in factories to help production planners determine which work orders to release to a factory each day. This analytical method can be performed by an individual with a pencil and paper for a single product with only a few parts on its bill of material. But the reality in most cases is that MRP needs to be applied to a great number of products with complex bills of material. As a result, the term MRP is also used to refer to the computer technology that executes the MRP analytical method. In addition to MRP, there are some other options, including Decision Support System (DSS), Enterprise Resource Planning (ERP), and Sensitivity Analysis.
Creating a process for decision-making is essential for any organizational and managerial function. The ability to oversee, intervene and make changes for organizational success is dependent on decision-making. An understanding of the complex mental thought process merged with strategic actions is imperative to the application of successful decision-making.
Effective decision-making is a well-designed process that organizations employ to maximize the use of technology in evaluating and interpreting the data that have been collected. Because there is so much data, managers need to be able to assess, analyze, and determine what data is relevant.
For this assignment, you will prepare a narrated presentation using PowerPoint presentation software. You will create your audio presentation by using an audio/video capturing tool located in NCUOne. To access the capture tool, follow the tutorial found in this week’s resources. Prepare an analysis of the decision-making process currently being used in a selected organization and the changes that need to be made for organizational efficiency and success. Include research on one technological method and one analytical method that will help the organization and influence approaches to decision-making.
Length: 5 to 7-minute video accompanied by 12-15 slides to include 200-250 words per slide, not including title and reference slides.
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