Hi, Please do the Reflection, I provided reference, which is not great though, (RAtional for use docx). make it fancy, My name is Jagadeesh reddy, I am giving feedback on others. I provided the whole solution to provide feedback.
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Case Study Presentation and Report Subject Code: MGT602 Subject Name: Business Decision Analytics Professor: Mr. David McDonald Submitted By: Group 8: Kulbir Kaur Harsh Kamlesh Farkunde Akash Gundla Jagadeesh Reddy Jakkireddy Nitish Kapoor The brief Decision making is known as a possess that is more or less rational or irrational and is generally based on tactics, knowledge and believes. The typical decision process involves identification of the alternatives, gathering of information, identifying problems, choosing among the alternatives and monitoring the result. The assignment is based on the decision making preferences within company Myers for improving the productivity and to ensure sustainability. This assignment depicts the challenges faced by team members due to their decision making preferences for company Myers in regard to improve the productivity with different tools and techniques which helped in selecting the alternatives for their benefits. The assignment includes details description about MYER's challenges in current market scenario for improving the productivity as well as considered situational analysis. The decisions made by company is based on consumers, business and for the benefits of a company. Different style and tools of MYER that will be highlighted in the report along with techniques and technology used. Aim of the study Decision making strategy and tool can help company to prevent possible future uncertainty. However, this report is going to examine the decision making preferences and the methods company performed of utilizing the data and strategy effectively in order to overcome with difficulties for ensuring the sustainability of a company and to improve the productivity by considering all the facts. The scope of the study Decision making occurs at every level of an organisation, which helps in advancing in pyramid life fashion from the decision that is made every day by the lower level to upper level members of a company. There are various kinds of techniques that are used by the manager’s by which they can choose the best solutions and make decision on the basis of it. A major part of decision making involves analysing the finite sets of alternatives that is described in terms of evaluative criteria. The major issues company faced is relate to impact of decision making and preferences for launching new products, recruitments, current pandemic situation as well as in IT sector. Key research questions 1. Critical decision making challenges faced by Australian company named Myers? 2. What are the decision making preferences of Myers? 3. Decision making tools and techniques used by company to deal with challenges? 4. What are the alternatives and situational analysis to ensure the sustainability of a company? Summary of team diversity In order to achieve organisational goals, in all the departments and groups within Myers have their mentors to motivate. Dedication of Myers to diversity is expressed in the way they act, function as well as involve one another. They are dedicated towards creating safe and inclusive atmosphere whereby leaders of a team are motivated to fulfil maximum capabilities which elicits company's effective utilization of decision making preferences. Literature review on teams and decision making Multiculturalism is a part of industry nowadays while people with various backgrounds indulge in decision making process brings opportunity for a company to gather information from various ideologies, perceptions as well as conclusion. Hence, decision making conveys preferential variance as well as preferences towards risk. The evaluations of various qualities in situations of real life provides qualitative as well as quantitative details while qualitative details of company's rational choices is inclined towards maintaining balance, deal with rivalry and market as whole. In rational decision the business requires to recognize the issues then gather relevant data in order to produce alternatives and assess them. All the task of rational decision making required to fulfil in order to lead business efficiently and achieve desired organisational goals. Decision making and preferences helps company to understand the behaviour of a person during recruitment process as well as implementing critical decisions and forming strategy for launching new product in market with help of decision making tools and techniques. Interpretation of selected data The decision making process and preference of the company includes serving the needs of customers, company, prioritising safety and compassion in maturing the office. It includes representation of data through graphs and symbols that helps stating the importance of decision making process for organisation. Through this it can be determine that use of different tools and techniques is crucial for making effective decision into the business. Therefore, through this it can be stated that the decisions making process is an important component that helps in making the critical decisions in the business. In addition, the decisions making process is an important tool for a company as it can help in achieving the goals and eliminate uncertainty of the business. Challenges of Myers The company has felt the need to improvise in their operations by making it efficient for the company to deal with the present market needs and demands. While the company was operating through physical brick and mortar store, it is important for the company now to develop certain other prospects to make it equivalent to the needs of the post pandemic situation. With the new scenario prevailing in the market the company has aimed to make a shift from the brick and mortar business settings to online business conduction. Therefore, the company has realized the need to collect differential data in order to induce sustainability to the business. Myers has selected the five important aspects of business operations in order to keep their business focused on sustainability. As the functions of the company were required to be turned towards online experience, certain new data was required to be integrated in the operations. While comparing the two forms of data that was used by the company prior to building its online settings and after the same, certain important aspects would be highlighted through the discussion in the present part. Launching new product: While launching a new product in the market to sale the same through online shopping, Myers had to be more attentive towards the need that has aroused in the market. In this situation it must be understood that the pandemic situation has changed the overall scenario of the market and the market has been more inclined to concentrate on the needs rather than luxury items. Therefore, one most important aspects data collection by Myers is to understand the commodities that would have raised demand in the market (van den Broek & van Veenstra, 2018). On the other hand, while the company used to function from its brick and mortar settings it could produce equal importance to all kinds of products like footwear, clothing, electronic appliances, etc. Recruitment: While conducting business through the brick and mortar model, the company Myers has to be more attentive towards the workplace safety functions. In contrary to the situation, the present online functioning of the company would require to worry less about the workplace safety measures in most cases as the number of workers working physically in the shop may decline. Therefore, while recruiting new individuals the company has to focus more on the qualities or eligibility of the employees to work online. The employees must be aware of the IT induced structure of functioning of the company and handle the IT infrastructure more fruitfully. On the contrary the recruitment factors were more dependent on the eligibility of the employees to conduct sales and move products physically to supply them to their customers. However, the recruitment functions must consider developing opportunity based functioning for example to be able to derive opportunities to hold credibility to help the customers to find the right products they are looking for. After the shift of the company in the online selling or e-commerce model, the hiring or recruitment functions should be based on the sound ability of the employees to handle online and technological functions (Kaptein, McFarland & Parvinen, 2018). IT: The IT infrastructure of the company is required to be changed as remodelling is required to be done to meet the online functioning needs of the company. In an e-commerce structure the business should involved systems like a running supply chain which can be tracked real-time. Besides, warehouse management should also include real time tracking operations in order to ensure that the products status can be tracked without the risk of running out of the products (Peisl & Shah, 2019). Such an infrastructure is also helpful for the company to reduce the number of workers working in a particular area owing to the pandemic situation. On the contrary the IT operations prior to the shift to online selling functions Myers was limited to money collection and updating procedures of daily sales. Recommendations Decision making style and tool of MYERS: Rational Decision Making: ( According to Rational decision making model, the company should follow all six rules in order to achieve goals and success in rational decisions while the steps should be in sequence is not necessary but each should be fulfilled. ) Rational decision making theory is used for successfully achieving of short-term, mid-term and long-term goals by efficient decision making as well as in order to eliminate consequences. In organisation to improve the productivity, optimise the resources and to run business efficiently the planning and implementing of strategy is necessary. First task in decision making process is to identify the problem then process the information, search for alternatives, isolating the choice, implementing the idea and ask for feedback for further changes and improvement. MYER'S is in the market running business since 120 years and have faced several ups and downs in the business. According to the general manager of MYERS Robbie Tutt, the customers were unsatisfied due to lack of innovativeness while competing with disruptive companies such as Amazon was difficult for several companies especially MYERS and due to all factors in six month Myers have lost half Billion dollars. In addition, availability of similar products from rival company was also a major concern for MYER'S. In order to attract customer MYER'S realised, providing better customer service, members of team conveying knowledge of the products for making the customers understand that the products they manufacture are unique, improve delivery system, if not satisfied with product then in store return policies and collect data of customers. For instance, if any customer had purchased moisturiser before 3-4 months then reminding them their product needs a refill by sending an Email. MYERS decision to implement improved online services have helped to increased company's growth in online selling by 50 % in 2017. Risk impact matrix: In order to manage risks and effective decision making in organisations creating the risk matrix is necessary. The 3*3 risk matrix depicts the probability and likelihood of MYERs my store Australian company reflecting the consequence severity. Colour green represent the low risk areas which does not have to be change while the yellow colour block represent the risk for which company needs to concern about though the value of company will not decrease. However, red blocks represents