300 words Discussion responses wk3 Finance in 24 hours

Read some of your colleagues’ postings.

Respond to  two or more of your colleagues’ posts in one or more of the following ways : (150 words each Colleague)

· Ask a question about one or both of the professional experiences your colleague described in regard to evidence and decision making.

· Offer an insight you gained from your colleague’s examination into how evidence impacted the outcome of their decision making, including their analysis of the risks and benefits of each approach.

· Ask a question or offer an insight you gained regarding your colleague’s analysis of how evidence-based decision making can promote positive social change within and/or for organizations.

Return to this Discussion in a few days to read the responses to your initial posting. Note what you have learned or any insights you have gained as a result of the comments your colleagues made.

1st Colleague to Respond to:

Describe one professional experience in which you used evidence as the basis for decision making and one experience in which you made a decision and then found evidence to support the decision you made.

 

On one of my previous jobs, I served as the payroll coordinator.  My numbers had to match the numbers of total hour that the business manager came up with.  Many times, we were off with the numbers so I began to monitor closely staff on each shift and I randomly picked employees and from observing them entering and exiting, I noticed time didn’t match.  My proof that something was off was because all of a sudden, our numbers didn’t match. I couldn’t understand how we never had this issue until the last few payrolls period.  Because of this, I began an investigation with supervisor that approved time for particular employees that were being monitored.

 

One the same job, I acted on a decision before gaining all details.  Exempt staff was abusing their privileges.  I noticed that salary staff was missing work and never requested days off.  This caused them to have extra time to burn at the end of the year, this is something most supervisor look forward to, and I was fully aware of this behavior.  I over reacted and went straight the staff and discussed with them what I was observing.  Supervisors taking days off but when I run the numbers for the total PTO (vacation time) the numbers were off.  What I should have done was gathered my evidence and went to the cooperate office with my finding and move forward with the corrective action

Compare both situations regarding how the use of (or lack of) evidence impacted the outcomes of your decision making, being specific in terms of positive and negative impacts. In your comparison, be sure to include the risks and benefits of each approach in terms of the outcomes.

There were positive and negative impacts on both decisions made. First, I got my emotions involved with each decision made.  The company I worked for was known to be one the best facilities that took ethical decision seriously.  We were held to a higher lever of standards compared to our other facilities, and we were one of the highest paid facilities.  Staff should not have been stealing time and supervisor should have been setting an example but they were just as guilty as the hirer staff. All of this was the negative. Now on the positive side, misusing of funds were stopped and unethical staff were let go.

 

 

Based on this week’s Learning Resources and your previous experiences as examples, identify two or more ways evidence-based decision making can be used to promote positive social change within and/or for an organization.

 

The responses to decision making could be the reason staff respects or disrespects the leadership team.  Leaders should value their roles and help to create employees that want to do the right thing and not take short cuts.  Your attitude and the way you approach a situation could cause a manger change.  Being professional and positive about situations and also look at the issue in more that just one way before deciding on how to react.  The major way decision making impacts social change is being respectful and professional can be an example on what to do right and not what’s wrong.

Resources

Tingling, Peter;  Brydon, Michael.  MIT Sloan Management Review; Cambridge  Vol. 51, Iss. 4,  (Summer 2010): 71-76.

 

 

YouTube. (2018, February 8).  Evidence-based management. YouTube. Retrieved November 16, 2022, from  https://www.youtube.com/watch?v=14j3l74Og-I

2nd Colleague to Respond to:

Hello Class,

Describe one professional experience in which you used evidence as the basis for decision-making and one experience in which you decided and then found evidence to support your decision.

When I was a Director in charge of several teams, there was one time in particular when I recall using evidence as a foundation for a decision. I need to discover new methods to enhance sales, and the president wanted to run a promotion that will result in a year-over-year decline in gross margin dollars of 4.5%. I wanted to increase equipment and accessory sales simultaneously, so I polled the sales engineers' existing clientele and combed through the CRM database to set up a three-week campaign. If we could negotiate a discount of 6.5% off the list price of the equipment from our supplier, we would offer it to our customers free of charge. I presented the Projected Sales Forecast to our president, who gave his approval to proceed with this promotion. We achieved a 10% discount from our supplier because we purchase 25% more from them at once, and we boosted our GM to 35%.

Compare both situations regarding how the use of (or lack of) evidence impacted the outcomes of your decision-making, being specific in terms of positive and negative impacts. In your comparison, be sure to include the risks and benefits of each approach in terms of the outcomes.

In a few of the other situations, we did not utilize any evidence finding to make decisions; instead, we relied only on our intuition or hoped that this might make up the gap. After conducting a study and amassing relevant data, I realized that only then should one settle on a course of action that will lead to positive outcomes.

Based on this week’s Learning Resources and your previous experiences as examples, identify two or more ways evidence-based decision-making can be used to promote positive social change within and/or for an organization.

When it comes to determining certain choices, the presence of two distinct aspects makes it possible to consider one or both of them. One in the company makes their decisions the majority of the time when there is no question as to what the conclusion and repercussions will be, whether it will be successful or not. The ideal data for the study of legislators and decision-makers is evidence-based decision-making, which minimizes the number of people who need to be familiar with the specific program and policy decisions and their associated outcomes. 

Reference

 Tingling, P. Brydon, M. 2010. Is decision-based evidence-making necessarily bad?  https://www.proquest.com/docview/633072096?accountid=14872