Originality report should not be over 15%. This assignment involves applying an analytical tool to a practical decision scenario and assessing the strengths and limitations of the analysis. This assignment is designed to assess your ability to: 1. Apply decision analysis to a problem involving multiple objectives. 2. Evaluate the strengths and limitations of your analysis Produce a report of 3,750 words that addresses the following questions: 1. Discuss the importance of decision making and the application of decision analysis. 2. Identify and outline a decision problem relating to an organisation which involves multiple objectives. In this case am choosing the brand of mobile phones to give to the employees for the purpose of delivering their duties and responsibilities whilst they are on site. There are five brands to choose from (Samsung, Apple, Huawei, LG and Nokia. The multiple objectives are to choose a phone with optimal Operating System
Design and functionality, Size and type of display, Processor, Internal memory and space, Battery life and Camera in relation to Cost of each product. In order words which product provides the optimal characteristics in relation to cost? 3. Apply the simple multi-attribute rating technique (SMART) to the outlined decision problem. Each stage of the analysis should be clearly defined and presented. 4. Discuss and detail the strengths and limitations of your analysis in the context of your decision problem Guidance of information required for each question. The assignment should be presented within a report structure. Each section of the report should be clearly structured and defined and an introduction or overview should be provided. Across the report you will also need to show evidence of assessing a range of resources, e.g. internet, journals, text books and company documents such as annual reports. A Harvard Referencing style should be followed. Question 1 should be based on a critical review of relevant literature and discuss the importance of decision making and the application of decision analysis tools. Your answer may include the features of effective decision making or how decision analysis could be applied to support the performance of an organisation. Within Question 2 you should select a clearly defined decision problem involving multiple objectives. This decision problem could relate to your work. However, the outlined decision problem should have a clear business context or application. The presented decision problem should be clearly presented and where appropriate supporting sources and references should be provided. The decision problem should be of adequate detail in order to support the analysis. The decision problem should involve multiple objectives and it is suggested that the decision problem consist, as a minimum, of at least 5 options (alternatives) and 5 attributes. The context and features of the decision problem should then be discussed. Following a discussion of the decision problem, a SMART decision analysis should be applied. Within your answer to Question 3 you are required to outline and discuss the various stages and outputs of the analysis. Within your analysis, the sensitivity analysis should be critically discussed in relation to the decision problem and the influence of changes in the identified attributes within the decision problem discussed. Finally within Question 4 you should discuss, with the support of appropriate sources, the strengths and limitations of the analysis. Use graphs and tables if necessary. The Marking Matrix is only indicative of the work/word-count required. This coursework assesses the following learning outcomes L1. Develop an in-depth knowledge of management decision making theory L2. Critically evaluate models of management decision making L3. Gather and evaluate data to support analytical thinking and decision making in the organisation Component Weighting Mark/Comment Question 1 30% Question 2 10% Question 3 40% Question 4 10% Report Structure – Structure, flow, presentation, academic writing style 5% Referencing – Use of Harvard Referencing style. Application of academic sources and demonstration of applied critical thought 5% Total