Business Decision Analytics

Assessment checklist: 1: MGT602 Business Decision Analytics: Decision style analysis

Dr Fleur Fallon, Kent St SYDNEY

Trimester 1, 2019

DUE DATE: 11.55pm, Friday 22 March[end of week 4]

See policy on late submission: - 10% per day, for 5 days, then ‘0’ result. Need an extension due to unforeseen circumstances? Submit application BEFORE 22 March.

WORD COUNT: 1,000 words +/- 10%

Does Not include exec summary; table of contents; appendices, list of refs, tables, graphs.

Have you checked the requirements?

Have you checked the learning rubrics – assessment criteria and standards for HD?

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ASSESSMENT CRITERIA AND STANDARDS FOR HD

Assessment Criteria WEIGHTING

% MARK

/20

High Distinction (Exceptional)

85-100% 1. Reflect on a range of personal daily decisions and one major decision to analyse and evaluate sources of data, decision-making style and decision-making tools. (25% -5/20)

25 5 Comprehensive and sophisticated reflection on daily decision- making and major decision-making is evident, with explicit analysis and evaluation of multiple sources of data, decision-making styles and tools.

2. Compare and contrast with other decision-making styles and processes to identify bias and blind spots (25% -5/20)

25 5 Sophisticated analysis and comparison of decision-making styles and the implication of bias and blind spots for decision-making. Feedback from at least three classmates is discussed with recommendations to enhance own decision-making

3.Prepare a business style report with headings and content that includes visual representation of the data (25%-5/20)

25 5 Excellent logic and structure. Concise, accurate Executive Summary Conclusion accurately captures deep learning and insights. Creative and engaging visual representation of data trends/ patterns.

4.Support your report with references to key readings from the subject resources weeks 1-4 (25%- 5/20)

25 5 Sophisticated references support comprehensive argument and application of major concepts from within subject learning resources weeks 1-4 (modules 1-2 and beyond). High level of accuracy of in-text citations and reference list according to APA 6th ed. style guidelines.

A brief guide to Reflective Writing is available at: Laureate academic skills unit (LASU) (n.d). Reflective writing skills. https://laureateau.blackboard.com/webapps/blackbo ard/content/listContent.jsp?course_id=_20163 _1&content_id=_2498857_1&mode=reset

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A/ Select and evaluate the usefulness of a range of decision-making tools

and reflect on your decision-making styles

and contrast with other styles to determine the respective levels of rationality and intuition utilised.

PREPARATION FOR ASSESSMENT 1

PERSONAL DECISION PREFERENCES

1. Identify individual decision preferences – complete the decision style instrument:

Intuition

Logic

Balance

2. On-line or manual: Calculate your rating for each of above: Low, Medium, High

3. Consider ways in which decision preferences could be moved to HIGH.

4.Share insights, experience, give and receive feedback with your study team.

LEARNING OUTCOME

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This assessment draws on learning activities and resources from weeks 1-4. It is designed for you to record and reflect on the decision-making preferences, processes and tools that you use personally on a daily basis and compare and contrast this with one or two major personal or business decisions.

You should include in your reflective report:

1. Decisions actually made during a one- week period (select from weeks 1-3)

2. 1-2 major decisions you have made (these could be past decisions, prior to your enrolment)

3. Your decision-making preferences (see activity Module 1; preceding slide)

4. Personality style/ strengths and their impact on your decision-making style, bias and blind spots – you can use MBTI/ Strengthsfinder/ DISC/ other

PREPARATION FOR ASSESSMENT 1

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5. Reflection on feedback and insights from at least three class members- your study team

6. Sources of data and use of decision-making tools, (eg, flip a coin, dice, brainstorming, cost-benefit -/+ ; scenarios; consultation with others?) to influence decisions

7. Evaluation of those decisions and their significance

8. Visual interpretation of data / trends/ patterns

9. References from weeks 1-4 (modules 1-2; module 4 on bias, blind spots, system1 -2) subject learning resources that demonstrate your reading, understanding and ability to apply effective decision-making tools.

PREPARATION FOR ASSESSMENT 1

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AFM [Dutch Authority for the Financial Markets] 2017. Balanced decision-making: Dealing with blind spots. Case study with management boards of small and medium sized banks. Retrieved from https://www.afm.nl/en/professionals/onderwerpen/gedrag-cultuur-publicaties

Akinci, C. & Sadler-Smith, E. (2012). Intuition in management research: A historical review. International Journal of Management Reviews, 14(1),104-122.

Dhami, M.K. & Thomson, M.E. (2012). On the relevance of cognitive continuum theory and quasirationality for understanding management judgement and decision making. European Management Journal, 30, 316-326.

Klein, G.A. (2009). Streetlights and shadows, Ch. 5 Intuition vs analysis, pp. 67-82. Boston: MIT Press. Retrieved from https://ebookcentral-proquest-com.ezproxy.laureate.net.au. See also Ch 4. How biased is our thinking?

Myers & Briggs Foundation (2018). MBTI Basics. Retrieved from https://myersbriggs.org/my-mbti-personality- type/mbti-basics

NERIS Analytics (2018). Our theory. Retrieved from www.16personalities.com/articles/our-theory

Sadler-Smith, E. & Shefy, S. (2004). The intuitive executive: Understanding and applying ‘gut feel’ in decision- making. Academy of Management Executive, 18 (4),76-91.

HINT: The journal articles and book chapters are available in BBD links in modules 1-2 learning resources.

SUGGESTED READINGS STARTING POINT : ASSESSMENT 1

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STRUCTURE Create structure for your assessment:

a/ cover page – Name, Student id#, subject, class, WORD COUNT # ; academic integrity statement (/ use cover sheet is on mystudent hub@torrens)

b/ Table of contents [section #- sub-title –p.#]

c/ Executive summary [write AFTER you complete d-g; Key focus; points; results; recommendations; significance]

d/ Introduction –what-why-define key terms-structure

e/ Sub-sections: use short sub-headings- guided by requirements.

f/ Conclusion: key learning points? So what? Significance for your learning –theory and practice of decision-making in organisations.

g/ Recommendations for self- actions for your own personal change

g/ List of references [see APA referencing guide, 6th ed.]

APPENDICES a. Personality style/ strengths- summary from on-line instruments b. Feedback from study team

ABSTRACT: precedes a journal article/ book chapter

Aim/ purpose

Method/approach

Findings/ results

Implications of study-practice/ research

Significance

Key words

EXECUTIVE SUMMARY: precedes a business report

Reason for report –research questions

Explicit findings- summary of results- what are they?

Explicit conclusion and recommendations- what are they?

Key learning point/s.-what are they?

[Not an abstract/ introduction/ background. It is a precis of explicit points from the report.]

An executive summary vs abstract

YES! NO X

How many references?

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• More is not necessarily better. You need to show evidence of relevant reading from within the subject modules and Torrens library. You need to make the decision about credibility and relevance.

• Pay attention to detail: match citations in text with a detailed record in the list of references.

• See https://library.laureate.net.au/apa

STUDIOSITY

ACADEMIC SKILLS HELP - ACCESS VIA STUDENT HUB@TORRENS

PLAN YOUR TIME CAREFULLY: SEEK HELP FROM

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