Answer those questions for Activity 1 and 2 for a Business Decision Making class

SoccerBoss
Category:
Business & Finance
Price: $5 USD

Question description

Activity 1: In our Smart Choices link, Ch 3 (pp 31-45 in the text = pp. 23-32 on the reader) offers several ideas on setting objectives. If your boss told you to set objectives on a new payroll system, how would you go about it. Explain the process - not the objectives themselves - for selecting the objectives for this big decision. 

Read: Smart Choices link, Ch 3 (pp 31-45 in the text = pp. 23-32 on the reader) 

http://www.slideshare.net/moatazsamy/2779-smart-choices

1 focusses on objectives from Smart Choices. Yogi Berra famously said: "If you don't know whewre you're going; you might wind up somewhere else!"  One of the key tips re selecting the O in PrOACT is to recognize what you don't want.  

For a new system, you don't want it to be slower or less accurate or hard to understand the reports it gives. Thus, your O's might be:  A specific speed of transactions, say 10 per second / 98% accuracy for routine transactions; the other 2% of complex transactions being sent to the operator or analyst to fix / and clear, organized reports with all acronyms explained.

Thus, objectives are, at first, your wish list. As you gain more insight into what is feasible by gathering info related to such systems, you might refine your objectives to balance out costs available, speed achievable, and miminum quality requirements.

Often, as you re-consider objectives, more come to mind, and some seem less necesssary. Some analysts call objectives "Critical Success Factors" -the key measurable objectives that will determine if a decision solution is successful - or not! 

_______________________________________________________________

Activity 2: After reading Instructor Insights re Type 1 and Type 2 stakeholders, read pages 8-end of the Australian Study link. Identify the stakeholders by type giving reasons why. Think: Who has power / influence - and who lacks them.  

Reading Australian Study:

http://www.buseco.monash.edu.au/mgt/research/working-papers/2005/wp41-05.pdf

2 focusses on stakeholders from the Australian Study link.  Businesses cannot make decisions without considering impacts by and impacts on stakeholders.  A stakeholder is a person, group, or organization that has an interest in or an impact from what a company is doing.  

There are 2 kinds of stakeholders - Type 1 have the power and influence to impact a decision (say, those in authority). Type 2 are those who lack power and influence (say, employees) and are impacted by a decision. The concerns, needs and interests of both types must be considered wisely in an effective decision. 

Also FYI: Thus far in our course, with a decision statement and clear objectives, we are preparing to make a sound, informed decision - not just jump at any solution, yet!  As we move it the ACT of PrOACT in the coming weeks, we will use decision support information and decision tools to determine the best possible decision, given certain alternatives and their consequences! 



I need it done max on Thursday. 1 or 2 full paragraphs per activity. 

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