Devry MGMT530 Week 1 discussion dq
1& dq 2 Latest 2016 may
dq 1
|
Defining |
What is the difference between problem solving and decision
making? What are the key aspects to defining the problem for a decision
situation?
Give an example of a decision problem that you are currently dealing with.
dq 2
|
Enabling |
What role does ability, willingness, insight, and commitment play
in the decision-making process? How can constraints and other underlying
elements complicate the decision-making process?
Relate an experience from your work.
Devry MGMT530 Week 2 discussion dq
1& dq 2 Latest 2016 may
dq 1
|
Defining |
Why is it important to define clear objectives for the decision
situation? How can you ensure that you have identified all the appropriate
alternatives? Give an example of a problem that you are in the process of
deciding or have decided on in the past—identify the objectives and
alternatives.
dq 2
|
Intuition |
What role does intuition play in decision making? What role does
quantitative data play in decision making? Identify a decision situation in
which you used both intuition and data for your analysis of the situation.
Devry MGMT530 Week 3 discussion dq 1&
dq 2 Latest 2016 may
dq 1
|
Understanding |
Why can it be difficult to identify consequences for each
alternative and objective? What techniques can be used to simplify the process?
Describe a decision situation in which you made tradeoffs to simplify the
alternatives. Did you use the even-swap method, weighted scoring model, or
another approach?
dq 2
|
Decision |
What process does your organization use to make decisions? Do you clearly
identify the problem, objectives, alternatives, consequences, and tradeoffs?
What special techniques or tools do you use in your process?
Devry MGMT530 Week 4 discussion dq
1& dq 2 Latest 2016 may
dq 1
|
Defining |
How does your organization assess
uncertainties in your decision-making process? What are the benefits to using
decision trees to assess uncertainties?
Provide an example where uncertainties played a major role in a decision
situation.
dq 2
|
Decision Making Styles |
What is your primary decision-making style? What is your
manager’s primary decision-making style? What approaches and tricks have you
learned to persuade your manager?
Devry MGMT530 Week 5 discussion dq
1& dq 2 Latest 2016 may
dq 1
|
Risk |
Describe your risk profile—risk
seeking, risk neutral, or risk averse. What are the pitfalls of your risk
attitude? How can knowing your manager’s desirability curve come in handy
during the decision-making process?
dq 2
|
Sharing Risk with |
Describe a decision situation in which you have shared risk
with an internal or external business partner. What were the conditions of the
shared risk? Explain why the arrangement was successful or not.
Devry MGMT530 Week 6 discussion dq
1& dq 2 Latest 2016 may
dq 1
|
Linked |
Describe a decision situation that involved linked decisions. What
flexible plans did you use for the subsequent decision?
dq 2
|
Course |
Briefly describe your problem and post a brief PowerPoint
presentation that summarizes your Course Project no later than Tuesday.
Give feedback to (at least) two other students’ presentations for your
remaining posts. Be sure to post on a total of three different days.
Devry MGMT530 Week 7 discussion dq
1& dq 2 Latest 2016 may
dq 1
|
Psychological Traps (graded) |
Provide a real-life example of one
of the traps discussed in the text or the lecture. What can be done to avoid
that trap in the future?
dq 2
|
Estate Case Analysis (graded) |
This week, we move from the
theoretical to the real world.
The following group decision problem scenario is outside of the formal
organizational structure but highlights the difficulty in making decisions in
group settings and the need to collectively arrive at a group decision-making
process.
Estate Case Decision Problem Scenario
The matriarch of a family passes away after a long illness, leaving a house
that needs major repair work, a few antiques, and a small insurance
policy.
In her Will, she bequeaths everything equally to her three grown children (two
sons and a daughter), but leaves no instructions on how to go about the
disbursement of the estate.
The three children have drifted apart over the years and are not very close,
but are cordial to one another. The eldest son, who lives locally, is named the
executor of the Will. He is somewhat resentful that he served as the primary
caregiver of the matriarch and the others were less involved. The other two
don’t get along very well.
The son that is the executor is not sure what to do, but would like to hang on
to the house for a while until the real estate market improves and eventually
try to sell it for more money than it is worth today.
The daughter thinks that the house should be fixed up with the insurance money
and then sold immediately.
The other son thinks that the house should be sold as is and to not put any
more money into it, splitting the insurance money between the three.
In summary, the facts are as follows.
Objectives
Objective 1—Achieve the highest sale price (twice as important as the other
objectives)
Objective 2—Keep reinvestment in repair and maintenance in house at a
minimum
Objective 3—Complete transaction in the shortest period of time
Alternatives
Alternative 1—Sell the house as is. The real estate agent feels that the house
would sell for $79,000 and could likely sell the house in approximately one
month. No money would be put into fixing up the house.
Alternative 2—Fix up the house, and then sell. The real estate agent feels that
the house would sell for $96,000 and could likely sell the house in
approximately three months. Approximately $15,000 would be put into fixing the
house.
Alternative 3—Wait until the market improves, then fix up and sell. The real
estate agent feels that the house would sell for $120,000 if the market
improved, but it would take at least one year. Approximately $15,000 would be
put into fixing the house and another $5,000 for ongoing maintenance and upkeep.
Based on the facts described, address the following.
1.
What is the general nature of the problem?
2.
What event triggered the situation?
3.
Are we imposing any constraints on the situation?
4.
What are the underlying elements of the problem?
5.
Are there dependencies on other decisions?
6.
What are the consequences and tradeoffs?
7.
What group decision-making dynamics are in play here?
8.
Based on a weighted scoring model, which would be the best
alternative (show your work)?
Devry MGMT530 Week 1 case analysis Latest
2016 may
Week 1 Case Analysis:
Conference Decision Case
Date: September 2, 2005
In less than two weeks, an accounting system user’s conference
is scheduled to be held in New Orleans, Louisiana on September 13–16, 2005.
Unfortunately, Hurricane Katrina has struck the city leaving a wake of
destruction. Based on what you see on television, the hotel and the city cannot
possibly accommodate this or any conference for the foreseeable future.
Approximately 200 attendees are scheduled to attend, flying in from
all over the country. All attendees prepaid their registration fee for the
conference.
With a lot of competition in the marketplace, getting the users
to participate in the annual user’s conference is critical to retain current
customers. During the conference, several product enhancement ideas are
developed by the users, and this input is often used in future releases of the
product.
Potential new customers are invited to the event, and their
involvement often leads to securing new contracts for the accounting system as
they gain confidence in the system, seeing others use it.
As head of the group that puts on the conference, you are faced
with making a determination of what to do with this year’s conference. You are
getting calls from the registered attendees asking what to do.
Senior management feels that the conference is critical to
ensure continued customer engagement and fears that cancelling the conference
altogether will lose the momentum the company has developed over the past few
years.
Other considerations:
- Keeping
the original dates and moving to a different city may drastically increase
costs due to the short advanced notice. Will people cancel because of the
higher hotel costs? - If
the date is changed, will the speakers and attendees still be able to
attend? - Having
worked with the local Convention & Visitor’s Bureau and the hotel, you
worry about how their businesses will survive with all of this destruction
and wonder what you can do to help.
|
Devry MGMT530 Week 2 case analysis
Latest 2016 may
MGMT530 –Conference Decision
Week 2 Case Analysis Template
1. Define the Objectives for the Conference Decision Case.
Objectives should be separated into fundamental and means objectives.
2. Identify the alternatives for the case.
|
Fundamental Objectives (used to evaluate and compare |
|
Means Objectives (used to generate alternatives and deepen your |
|
Alternatives |
Devry MGMT530 Week 3 case analysis
Latest 2016 may
MGMT530
–Conference Decision
Week
3 Case Analysis Template
The
assignment was to create the following:
·
A
consequence table
·
A
weighted scoring model
Are
there any dominated alternatives that can be eliminated? Are there any even
swaps?
Consequence
Table
|
|
|
|
|
|
|
|||
|
|
|||
|
|
|||
|
|
Scoring Model (Include
Legend)
|
|
|
|
|
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
Weighted
Scoring Model (Include Legend)
|
|
Weight |
|
|
|
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
Recommendation:
.
Devry MGMT530 Week 4 Midterm Exam
Latest 2016 may
Devry MGMT530 Week 4 Midterm Exam Latest 2016 may
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
|
Devry MGMT530 Week 5 case analysis
Latest 2016 may
MGMT530 –Labadee Decision
Week 5 Case Analysis Template
The objectives for the assignment were to define the uncertainties
using a risk profile and make the recommendation for a decision for the Labadee
Case.
Students will have a wide variety of responses based on the
limited information provided in the case.
Risk Profile
|
Uncertainty 1: List |
||
|
Outcome: |
Chance |
Consequences: |
|
Uncertainty 2: List |
||
|
Outcome: |
Chance |
Consequences: |
|
Uncertainty 3: List |
||
|
Outcome: |
Chance |
Consequences: |
Decision Recommendation
|
Decision Recommendation |
|
|
Alternative Recommended |
Summary Rationale |
Course Project: Managerial Decision Making
(MGMT530)
Objectives|Guidelines|Grading Rubrics|Best Practices|Milestones
Objectives
Back to Top
The objective of the Course
Project is to provide you with practice in creating, justifying, and explaining
a decision-making proposal. All elements involved in the creation of this
proposal, from problem definition through action plan, must be covered. Further,
the proposal, as constructed, must meet the tests of any sound business plan,
namely that it has specific and measurable goals and objectives, clearly
defined activities, stipulated time frames during which those activities will
take place, and clearly defined measurable outcomes.
The subject matter of your paper
should be business-oriented in nature and should avoid decisions that depend
largely on intuition to solve.
Guidelines
Back to Top
Although the length of the paper
is not predetermined, a 10–15 page analysis, including data and appendices, is
probably correct. You will also share a summary PowerPoint presentation with
fellow students during the Week 6 Discussion.
The Final Course Project Proposal
with the PowerPoint presentation isdue
by the end of Week 7(graded).
Required Outline
The following outline is required
for your Course Project.
- Executive
Summary(less than one
page)
This summary is a short, carefully worded description of the problem
situation that identifies the recommended solution. A brief justification
and explanation of the selection method is to be included, highlighting
factors that contributed to selecting the recommended alternative. - Decision Problem
Overview
Describe the nature and scope of the decision problem selected, its
history together with causes, and the outcomes of any previous attempts to
deal with it.
In order to define the problem correctly, the following questions
should be addressed.
- What is the
general nature of the problem? - What event
triggered the situation? - Are we imposing
any constraints on the situation? - What are the
underlying elements of the problem? - Are there
dependencies on other decisions?
Briefly introduce the key decision elements—objectives,
alternatives, consequences, and uncertainties; details are to be discussed in
the following sections.
- Objectives
Statement
Explain each objective in detail. Separate objectives into fundamental and
means objectives. A minimum of three objectives is required.
- Alternatives
Describe each alternative, and explain how the alternatives differ from
one another. A minimum of three alternatives is required.
- Selection
Describe the alternative recommended and why. Explain the tradeoffs you
utilized or present a weighted scoring model. Explain why you feel that
this report contains sufficient information to make a decision on the
problem. Describe any additional information that would be useful to have.
- Consequences
Explain how you determined the values for each alternative and their
corresponding objectives. Show your consequence table, either in this
section or as an appendix. Include the bases for forecasts and any
techniques or tools used to estimate consequences. Discuss the reliability
of your predictions. Indicate what events were considered to be uncertain,
explain the probabilities of their occurrence, and what information you
used to establish your confidence level in these probabilities. A minimum
of two uncertainties is required for the paper.
- Implementation,
Monitoring, and Control
This section contains a detailed implementation plan. There will be an
explanation of how the recommended alternative will be implemented,
resources dedicated to accomplishing it, and key individuals who will be
responsible for the plan’s success. Details should be included on how the
plan will be monitored, subsequent evaluation criteria, and how the plan
can be amended.
- Works Cited(at least two
external sources should be used)
Presentation
Once you have outlined your paper, you should be ready to begin a
PowerPoint presentation. As you develop the contents of the sections in your
paper, you should extract bullet-point ideas that best express your intended
message. If you prefer, use the slides to brainstorm and organize your thoughts
before writing the paper. Then refer to your presentation to guide and remind
you of the flow of your storyline.
The presentation will be used to showcase your decision problem in
one of the Week 6 Discussion topics, where you will receive feedback from your
fellow students. This exercise will assist you in finalizing your Course
Project prior to submission at the end of Week 7.
A recommended Course Project
template can be foundhere. This document is also posted in
the Doc Sharing tab.
Grading Rubrics
Back to Top
|
Category |
Points |
% |
Description |
|
Documentation and Formatting |
60 |
25 |
A quality paper will include an |
|
Organization and Cohesiveness |
60 |
25 |
A quality paper will include an |
|
Editing |
24 |
10 |
A quality paper will be free of |
|
Content |
96 |
40 |
A quality paper will have |
|
Total |
240 |
100 |
A quality paper will meet or |
Best Practices
Back to Top
Additional hints on preparing the
best possible project follows.
- Apply a
three-step process of writing: plan, write, and complete. - Prepare an
outline of your research paper before you go forward. - Complete a first
draft and then go back to edit, evaluate, and make any changes required. - Use visual
communication to further clarify and support the written part of your
report. Example graphs, diagrams, photographs, flowcharts, maps, drawings,
animation, video clips, pictograms, tables, and Gantt charts.
Milestones
Back to Top
Suggested:
Week 1:Determine your Course
Project decision problem you want to research.
Week 2:Identify and share the
decision problem for your project in the third Week 2 Discussion topic
(ungraded).
Week 3:Identify objectives and
alternatives for your project.
Week 4:Identify the consequences
and tradeoffs for your project.
Week 5:Identify and analyze your
uncertainties for your project. Also, make your decision and prepare your
initial PowerPoint presentation.
Required:
Week 6:Submit a draft of your
PowerPoint presentation to this week’s second Discussion topic, and offer
feedback to at least two other students’ presentations.
Week 7:Submit your completed
Course Project and finalized PowerPoint presentation to the Dropbox.
The following are the best
practices in preparing this paper.
- Cover Page—Include who you
prepared the paper for, who prepared it, and the date. - Table of
Contents—List the main
ideas and section of your paper and the pages in which they are located.
The illustrations should be included separately. - Introduction—Use a header on your
paper. This will indicate you are introducing your paper.
The purpose of an introduction or
opening is to
- introduce the
subject and why the subject is important; - preview the main
ideas and the order in which they will be covered; and - establish a tone
of the document.
Include in the introduction a
reason for the audience to read the paper. Also, include an overview of what
you are going to cover in your paper and the importance of the material. (This
should include or introduce the questions you are asked to answer on each
assignment.)
- Body of Your
Report—Use a header
titled with the name of your project. Then proceed to break out the main
ideas. State the main ideas, state major points in each idea, and provide
evidence. Break out each main idea you will use in the body of your paper.
Show some type of division, like
Categories: