Business Decision Making Coursework Example | Topics and Well Written Essays - 1500 words

Business Decision Making - Coursework ExampleDecisions range from smaller and simple ones to difficult ones which require great effort to facilitate the arrival to a reliable conclusion. The overall process of decision qualification needs to be executed in a logical and systematic manner that will allow the evaluation of all relevant elements in the beginning adopting one of the available ersatz courses of actions. Therefore, decision making has to be carried out with an organized approach that will facilitate the consideration of all factors. This is according to Baker (2010). Williams (2007) agrees that academic experts in the business sector yield devised models that can be employed when developing a decision. These models advocates for the adoption of various requisite steps in building the decision. The essential steps applied in making decisions at all contexts starts from then definition of a enigma, identification of the alternative, evaluation of the available options, selecting the best alternative, appraising the feasibility of the decision and presenting the proposed decision for favorable reception by the relevant authorities. All major decisions are carried out systematically using these steps without omitting even one. In the business context, once the underlying problem has been defined rationally, the next step will entail the identification of the available solutions. The first two steps of decision making require the application of development concerning the problem situation. The third step on evaluation of the options also needs the appraisal of the situations information. At this juncture, one should be in a position to interpret the collected information appropriately using a suitable interpretation technique. Upon interpreting, the decision maker will pick the best alternative course of action, based on the validity of the findings depicted by the interpretation. This is according to Williams (2007). Baker (2010) asserts that info rmation on a situation needs to be acquired before initiating a decision making process. The data collected from the sources will supplement the values needed to develop a body of information concerning a situation. At this juncture, it is logical to state that the practical part of a decision making process begins from the assembly data on the concept under consideration. Data sight can be carried out using the suitable methods. The data can be obtained from either the primary or the secondary sources. Primary sources data collection entails the process of obtaining information from first hand respondents especially in the field by exercises like surveys and administration of questioners. In our discussion, the decision making process concerning supersede Partnership Team (EPT) will start from the development of an outline illustrating the data collection exercise. Question 1 In the context of the West London transpose company, the Exchange Partnership Team (EPT), data can be o btained with respect to the outline below 1) Primary Data sources a) Administering Questionnaires b) Observations c) Case studies d) Portfolios e) Interviews f) Evaluation of critical incidences 2) inessential Sources a) Internet Databases b) Internal business records c) Government agencies records d) Business directories Question 2 Questionnaire According to Baker (2010), the most appropriate research methodology