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BUSN11079 Analytical Thinking and Decision Making University of the West of Scotland

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University of the West of Scotland

BUSN11079 Analytical Thinking and Decision Making University of the West of Scotland

This module titled analytical thinking and decision making to understand the different
importance of decision making and the application of decision analysis in order to solve the
problem that involves various objectives and to analyze the strength and limitations of my
analysis. Here the technique called simple multi attribute rating technique also called as
SMART. Analytical thinking involves critical analysis of the problem in order to find out the
efficient and effective solutions of the problem as quickly as possible(Cook et al., 2014). It
involves step by step approach of thinking in order to identify major issues and gathering of
relevant information, in order to solve the problems. The whole complex problem is broken into
various parts and these parts are solved in order to solve the complex problem as a whole.
Decision making is the process of making the important decisions to solve the problem
(Hoffenson & Söderberg, 2015). The approach of in today’s organization, everyone is equally
responsible for making decisions. So, as the analytical skills are very common and many people
have got it the problem solving can be done easily using the analytical thinking. Analytical
thinking can be used in order to make decisions and find out the most appropriate decisions
among the list of alternative decisions (Kremer-Asaf, 2015). It involves the process of selecting
the most appropriate options among all the alternative options. In this report the common
problem found in organization i.e. selection of raw materials suppliers are identified and
discussed and the simple multi attributes ranking method is used to analyze and solve that
problem.
IMPORTANCE OF DECISION MAKING AND THE APPLICATION OF
DECISION ANALYSIS
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Decision making is the process of selecting best alternatives from the alternatives available (Kida
et al., 2010). Decision making is one of the most important parts of the business function. The
management has to make different decision daily which ranges from too simple to highly
complex decisions. Some of the key decisions the management has to make are workforce
decisions, decisions related with the employee input, supplier’s choice, production location, etc
(Arvai & Froschauer, 2010). It involves analyzing all the alternatives available in order to find
out the most appropriate alternative in that situation or the alternative which can solve the
problem effectively. According to Kremer-Asaf (2015) decision making is the step by step
approach, analyzing the incremental progress towards solving the problem instead of making the
decisions for achieving certain goal. The Organizational procedure view of decision making
states that the previous experience of organization should be used to formulate the standard
procedures that are used to make decision (Domingues et al., 2015).
As the consequences of selected alternatives can be either successful or failure, the
decision making should be done more effectively.
The various importance of decision making is listed below:-
 Decision making helps in better utilization of resources.
 Decision making helps in growth of the business.
 It helps in facing problems and challenges and to grab the opportunities.
 It helps to increase efficiency.
 It helps to facilitate innovation and motivate employees.
 Decision making is one of the most important concepts that help in choosing the
most appropriate alternatives among the various alternatives available. Here the
decision makers analyze the various benefits and limitations regarding all the
possible alternatives and choose the best alternative that fits in the situation.
 The decision making is the key for the implementation of various functions of
management like planning, organizing, staffing, directing and controlling because
the work done by employees and other members in the organization are carried
out through the process of decision making.

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BUSN11079 Analytical Thinking and Decision Making University of the West of Scotland

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