Week 4 Discussion Response- Managerial Finance

Colleague 1

Lydia Alobwede

Evidence-based decision making (EBDM) emphasizes using reliable data, stakeholder input, and professional expertise to guide organizational choices (CEBMa, 2017). In contrast, decision-based evidence making occurs when leaders choose a path first and then search for evidence to justify it (Tingling & Brydon, 2010). I have experienced both approaches in practice, and the outcomes were notably different.

My Professional Experiences 

In a previous role, my team used EBDM to plan a project under a strict schedule and budget. We analyzed historical velocity data, team capacity, and internal survey feedback to determine how much work to commit to each iteration. This evidence-based approach enabled us to complete the project on time and within budget.

In another instance, my team decided to switch courier vendors due to frequent delivery delays. However, we made this decision before gathering performance data on the new vendor. Only afterward did we learn that the new vendor had similar issues, which prolonged delays and reduced throughput. This reflected decision-based evidence making and led to preventable inefficiencies.

Comparison of Outcomes

Using evidence in the first situation resulted in accurate planning, improved predictability, and stronger stakeholder confidence. In contrast, the lack of evidence in the vendor decision created operational setbacks and eroded trust. While decision-based evidence making may offer speed, it often increases risk and leads to suboptimal outcomes (Tingling & Brydon, 2010). EBDM, though more time-intensive, produces more reliable and sustainable results.

Promoting Positive Social Change Through EBDM

Evidence-based decision making can support positive social change by:

1. Enhancing fairness and transparency—reducing bias and increasing trust among employees and stakeholders (CEBMa, 2017).

2. Improving resource stewardship—ensuring decisions benefit the broader community and align with ethical, data-informed practices (Walden University, LLC, 2021b).

Overall, my experiences affirm that EBDM not only strengthens business outcomes but also contributes to more ethical and socially responsible organizational cultures.

References:

California Management Review. (2018). Evidence-based management [Video]. YouTube.
CEBMa. (2017). What is evidence-based management and why do we need it? [Video]. YouTube.
Tingling, P., & Brydon, M. (2010). Is decision-based evidence making necessarily bad? MIT Sloan Management Review, 51(4), 71–76.
Walden University, LLC. (2021b). Evidence-based decision making [Video]. Walden University Canvas.

Colleague 2

Tameika Coates

Evidence-Based Decision Making

Nursing is a profession that requires the use of research evidence to make informed decisions regarding client care and to maintain safe nursing practices within health care facilities. From my experience, I have worked with both types of evidence-based nursing practices. The ones where I make a clinical decision based on scientific evidence before doing anything else, and the opposite, where I first intervene and then seek evidence after an event occurs, with each case resulting in a different outcome.

In one instance, I had a large number of falls in my facility, so I began investigating the causes of these unnecessary falls. I compiled the fall reports from our data collection system and analyzed the time of day and the patient's mobility level at the time of the falls. I then reviewed the current literature on best practices for preventing patient falls, found evidence supporting the implementation of hourly rounding and adherence to bed alarm protocols, and put these evidence-based recommendations into practice. It is crucial to pilot evidence-based approaches, as this gives clinicians a chance to verify their effectiveness, recognize potential problems, and adjust interventions before implementing them on a large scale (Rousseau, 2018). Through piloting these evidence-based approaches, we experienced a significant decrease in patient falls and an increase in staff confidence when caring for patients at risk of falls. This instance demonstrated how an evidence-based approach increases patient safety and positively affects the overall outcome of nurse teamwork.

In contrast, I once trusted my intuition to make a hurried decision without properly reviewing the evidence. While I was giving medication to a patient who was becoming more and more agitated, I supposed that the agitation was due to the patient's anxiety. Acting on that assumption only, I called the doctor to ask for an anxiolytic. Additional evaluations later revealed that the patient's agitation was caused by pain from a urinary tract infection. If only I had first done a thorough assessment, I could have given the correct treatment earlier, and consequently, I would not have been kept waiting. It was almost a terrible situation, but the event that happened gave a clear warning about the risks of making decisions on your own and then supporting them afterwards without really thinking them through, particularly in medical settings.

When I compare these two different experiences, I see that evidence-based decision-making has many advantages over making a decision first. Evidence-based decision-making provides a clear, safe, efficient outcome, and most importantly, the patient's treatment is based on the patient's actual needs, thus reducing the risk of harm and improving the quality of care. The primary disadvantage of an evidence-based approach is the time required to gather all necessary information. Conversely, making a quick decision increases the likelihood of being influenced by bias and of providing ineffective or poorly matched treatment interventions.

In healthcare organizations, evidence-based decision-making is the primary driver of positive social change. Firstly, it helps establish a culture of responsibility and fairness by basing decisions on verified data rather than making assumptions or following the hierarchy (Walden University, LLC, 2021). Secondly, it deepens the call for changes at the system level, such as staff organizing, safety procedures, and equal care practices, as the suggestions are backed by data and research, not opinion. Hence, by adopting evidence-based approaches, social healthcare organizations become safer, more just, and more patient-centered.

References:

Rousseau, D. M. (2018). Is decision-based evidence making necessarily bad? Industrial and Organizational Psychology, 11(1), 34–41. https://tinyurl.com/yssya85mLinks to an external site.

Walden University, LLC. (2021). Evidence-based decision making [Video]. Walden University Canvas. https://waldenu.instructure.com