Business Decision Analytics

That has impacted their Profit and Loss statement negatively as the profitability of the company drops drastically. The organization has a substantial financial obligation to meet to the stakeholders like investors, suppliers, and employees at the same time funds are hard to come by (Hemsley, 2018). The company is targeting to reduce operational costs while increasing profitability. The organization team decision making skill is being tested and how the teams are able to reduce biasness like overconfidence, framing issues, among others. The team building skills like communication issues are great interest (Shah, 2018). The rational model has some sequential series of steps that are followed which comprises of the thinking procedures, whereas some options are rated according to the advantages and the drawbacks.

The paper is focusing on the decision models under the rational categories like step decision process, SWOT analysis, and the decision matrix, Pareto Analysis, Decision Trees and the Critical Path Analysis. The Decision Matrix Analysis is used in the evaluation and prioritization of the opinion lists against some criteria. SWOT Analysis helps in decision making by evaluating the strengths weaknesses, threats and opportunities which are drawn in the matrix of 2x2. It suitable in organization like the one we are discussing about but it need to be used alongside other models. Some of the limitations are: Overconfidence; being too optimistic given factual question about correctness of your answers can results in biasness. Anchoring Bias; being fixate about a given idea even after additional information is provided due to first impressions influences.

Selective perception; it cause biasness by influencing what we are paying attention to and the problem we identify and considerations we give such issues. Framing of the problem can results in team biasness even though it should be influencing the solutions. These are the factors we are considering in the decision making as team. The internal environment consists of the employees who are the vital resources in an organization. Since they are responsible for conducting research and producing the products which in return generate the income for the organization, Hence, an organization cannot reduce their salaries since that will act as a demotivation to the employees, and they might as well move to other firms (Ragsdale, 2014).  The organization has both experienced employees as well others who are still new with only one year experience.

However, the new employees especially the young ones below 35 years should be absorbed in the organization for the future continuation of business operation as the older employees retire they young would have got enough experience to resumes the gaps left (Shah, 2018). The only option that is left for the internal organization asset or resources is the laying off the employees who are not very productive, and not reducing the salaries and wages for the employees. The solutions generated should results in the possible good to the organizations. Below are the suggestions for the possible solutions. Analyzing the employees and laying off the employees who are unproductive; the data we have been supplied with consist of 60 percent of the employees who are to be analyzed.

We can investigate the employees by reaching their quarterly targets of the organization. Those that fail to reach their targets be considered for the redundancy. The selection process should be by the employee’s analysis and elimination of the un-efficient ones. We can combine a series of solutions to come up with the best possible solution which will result in long term benefit to the organization (DR. Gallagher, 2018). For instance, instead of eliminating the entire employees that were working on the two key products, we can analyze those who were having high experience in research who was the brainchild of the products to continue researching and producing better products in the future. Those employees who have recorded better performance can also be retained, and through little training, they can prove suitable in the production of other products (Shah, 2018).

The employees under probation, as well as those in extended vocational leave, will be terminated as the company does not have the capacity of accommodating them back. Furthermore, the current problem can only be solved better by the employees who are here with us (Newkirk, 2018). 7 Implementation of the Decisions (choose the solutions that has potential of being effective) The organizational decision needs implementation with immediate effects, and the implementation process starts by informing the employees of the termination reality at least a month early before the actual date. That makes the employees to better adapt to the new changes, and if possible they can start looking for new jobs elsewhere (Hemsley, 2018). It also important as the employees are provided with enough explanation for their termination decisions.

5 Recommendations The team effectiveness that should be implemented for better decisions are: Leadership, effective team depend on effective leadership, contextualising the contribution of the team. The teams that are effective understands their contributions with the company. Clear definition of the team goals helps the team to achieve their goals on the basis of outline steps. In the data employees are given quarterly goals which is a good example. The team work should have clearly defined ground rules as they increase efficiency (Shah, 2018). Nelson Education. Bellinger, G. , Castro, D. , & Mills, A. Data, information, knowledge, and wisdom. (Akinici & Sadler-Smith, 2018) Psychology Says.  Group decision making versus individual decision making [Image]. Retrieved from https://www. youtube. com/watch?v=3ewr3yja7pA Hemsley, F. Com.