MGT312: Decision Making and Problem Solving – Assignment #3 Solution

Decision Making and Problem Solving

General Instructions – PLEASE READ THEM CAREFULLY

• The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
• All answered must be typed using Times New Roman (size 12, double-spaced) No pictures containing text will be accepted and will be considered plagiarism).
• Submissions without this cover page will NOT be accepted.

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Learning Outcomes:

1. Explain and apply critical thinking and cognitive psychology as it pertains to analyze and synthesize information for problem solving and decision making. (C.L.O :2.1)
2. Demonstrate decision tools and employ appropriate analytical business models to break down complex issues. (C.L.O :2.2)
3. Demonstrate effective leadership skills and teamwork capacity for efficient decision making with the problem owners and other stakeholders as either a team member or a team leader..   (C.L.O :3.1)

 

Assignment Question(s):                                                          (Marks 10)

Assignment Questions:                                             (Marks 10)

Read the passage below:

Abdullah Alarifi, has completed his Master’s in Business. Abdullah’s is passionate about driving and racing car. Another hobby of Abdullah is body cooking international cuisine. His father has a Arabian restaurant in Riyadh. His mother running a beauty salon, while brother has a car rental service.

After MBA Abdullah is planning for his future. He wanted to earn money. He started thinking about how he can start his professional life. He doesn’t want to do any job. He want to do business but how and what business?

Abdullah is confused about what kind of business should he start, traditional or e-commerce? Though his family is running a traditional business, Abdullah has heard and learnt lots about the e-Business and e-marketing.  The question he need to deal with whether he should join his father’s or brother’s business or he should do his own.  He is also considering the financial aspects. Should he take from father? Or bank or other sources such as partnership, etc.

Therefore, this is a question with no easy solution. Considering the above situation prepare a Decision Making and Problem Solving Worksheet answering the following question:

Step 1: Defining and Clarifying the Question (1 Mark)

Step 2: Develop mind mapping for the alternative (2 Marks)

Step 3: Generating Alternatives (1 Mark)

Step 4: Variables to consider (1 Mark)

Step 5: Weighing the considerations (2 Mark)

You may notice that the variables to consider are not of equal importance. Therefore, you need to weigh how important each variable is before you make your decision. In this activity, the following rating scale can be used:

Step 6: Weighing the alternatives (2 mark)

When weighing the various alternatives, how well each alternative fulfills the variables to consider can be expressed as scores. A different rating scale will be used to assess each alternative:

Note: Positive numbers (+2 or +1) indicate that the alternative is able to fulfill the variables, whereas negative numbers (-2 or -1) denote the opposite.

Step 7: Calculating a decision and Overall assessment (1 mark)

[Please answer in the next page]

Decision Making and Problem Solving