Decision Making custom essay

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Use the decision making process and associated tools (below) to make a real decision or solve a real problem/challenge/issue in your current organization or personal environment. This project ties into learning outcomes (LO) numbers three and four.
LO3. organize human, physical (OPERATIONS), and financial resources for the effective and efficient attainment of organizational goals (IMPLEMENTATION OF STRATEGY).
LO4. develop measures and assess outcomes against plans and standards to improve organizational effectiveness.
A short 2-4 page report. Please ensure to properly list references and cite sources using APA guidelines.
Select a real problem in your current organization or personal environment and solve it! Use the process illustrated and described in the textbook (Figure 7.3, page198). Be as comprehensive as possible, but keep the problem/challenge/decision/issue scope small enough that you can complete the exercise within two weeks. Don’t try to solve world hunger! The problem/challenge/decision/issue should be a work related or actual personal problem/challenge/decision/issue that is in close proximity to you and one in which you can effect real change. In other words select something in which you have a stake in the outcome!
Required components of the assignment include:
1. Students must address all seven steps of the process. Obviously you may not be able to actually complete all the steps of the process in just two weeks, so you may make assumptions and/or projections as required, but make sure you articulate the assumptions/projections made and explain why the assumptions/projections are necessary.
2. Students must use “the funnel” tool (figure 7.4, page 199) to define their problem/challenge/decision/issue.
3. Students must use a tree diagram (figure 7.5, page 201, figure 7.9, page 207, or figure 7.11, page 215) to analyze alternatives. Students must clearly demonstrate (using facts, data, or other information) that the selected alternative is indeed the best alternative and why (support your selection with something).
4. Students must clearly discuss the necessary steps required to implement the selected alternative and how the decision will be “translated to action” (figure 7.6, page 202).
5. Students must show an economic component (cost/benefit analysis or “payback analysis”, figure 7.12, page 216) associated with the decision or selected alternative. `

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