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HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Final Assessment Tutorial Questions Unit Code: HC1062 Unit Name: Decision making and problem solving Assignment: Final Tutorial Assignment Questions Due: 11:59pm 13th October 2020 Weighting: 50% Total Marks: 50 marks Purpose: This assignment is designed to assess your level of knowledge of the key topics covered in this HC1062 unit Unit Learning Outcomes Assessed: In your business career you will face many decisions. This subject examines the techniques available for undertaking research, analysing data, identifying alternatives, making choices and formulating recommendations. Research that is well planned and well executed can improve the quality of business decisions. This subject will explore the alternatives available for undertaking research and equip students with the skills required to manage effective research projects. Description: Each week students were provided with three tutorial questions of varying degrees of difficulty. These tutorial questions are available in the Tutorial Folder for each week on Blackboard. The Interactive Tutorials are designed to assist students with the process, skills and knowledge to answer the provided tutorial questions. Your task is to answer a selection of tutorial questions for weeks 2, 3, 4, 5, 8 and 11 and submit these answers in a single MS word document. Requirements: Please note all questions are compulsory. Furthermore, it is important when you answer the questions, you do not just copy and paste the answers from other sources, but rather, try to paraphrase it and provide 2 – 5 references (in- text referencing) per question. Where the word limit is not specified, you are required to write in between 200-300 words. The questions to be answered are; Question 1 (Week 2 Tutorial) Discuss in about 300 words the Hierarchy of the information- based business decision makers. Which level has the best chance of success and why? (7 marks) Question 2 (Week 3 Tutorial) The business research process involves a series of steps that systematically investigate a problem facing the organization. Select one example of a business problem and in about 500 words, discuss the sequence of steps that can be followed to conduct the business research to help in decision making. (11 marks) Question 3 (Week 4 Tutorial) Case studies usually involve in-depth and detailed examination of a particular case and are widely used in exploratory investigations. Describe in detail the three major types of asymmetrical causal relationships. Provide relevant example for each type (7 marks) Question 4 (Week 5 Tutorial) The qualitative data collection takes many forms but interviewing and observing are among the most frequently used. Describe in detail the different interview formats used in the gathering of qualitative data. Provide relevant examples of the scenarios where each format is more appropriate. (7 marks) Question 5 (Week 8 Tutorial) Differentiate the following set of terms in relation to evaluation of the measurement tools. Provide relevant examples. (7 marks) a) Validity, Reliability, and Practicality b) Content, Construct and Criterion Question 6 (Week 11 Tutorial) a) Select an appropriate graph to present the data in the table below. Briefly explain your graph highlighting the keys points between 2019 and 2020 (Hint: Use MS Excel to produce the selected graph). (6 marks) All arrivals to Australia in April 2019 and in April 2020 Country of citizenship Apr-19 Apr-20 New Zealand 163,130 1,180 India 53,450 990 UK 83,960 530 Philippines 23,070 360 China 132,360 320 Pakistan 4,780 280 Indonesia 17,870 270 Germany 17,900 220 Malaysia 36,670 220 USA 63,270 200 Source Australian Bureau of Statistics b) Briefly explain the meaning of the following terms. Provide at least one relevant example (5 marks) • Central limit theorem • Confidence interval • Confidence level • Interval estimate • Point estimate

hc1062t22020final-assessmenttutorial-questions-dbxtrlku.pdf

Moumita · Accepted Answer

DECISION MAKING AND PROBLEM-SOLVING
Table of Contents
Question 1: Hierarchy of information-based business decision-makers	3
Question 2: Statement of a business problem and suggesting the steps for conduction of the research	3
Question 3: Addressing three types of asymmetrical causal relationship	5
Question 4: Describing the different interview format that has been used in business research conduction	6
Question 5: Evaluation of the measurement tools	6
Question 6: Explanation of the key details on below-mentioned graph	7
References	9
Question 1: Hierarchy of information-based business decision makers
Top tier hierarchy or the visionary step:
The consideration of all decisions that are conducted with help of the business research is obvious. The proprietary methodologies that help in developing innovative methodological points for consideration are also subjected to be researched and analysed at this stage of decision-making (Adair, 2017). Further, this stage follows enterprise-wide access for the research of data and findings.
The middle tier that is, the standardized decision maker stage:
This stage formulates distinctive information and undermines those in context to the business research process. Business organizations, in attempting business research, undergo the methodologies on basis of the acquired data and information out of the research (Taylor, 2018). This process is associated with limited enterprise specific data that initiates the finding process.
The base tier that is the intuitive decision-making process:
This process undergoes the analysis and research on the experiences to find relevant data on the process. With help of the instinct or incident that took place earlier, this stage continues to count points and find decisions. Furthermore, limited qualitative research is also a part of this stage through which real data can be gathered and decision can be taken
Among three distinctive hierarchy, the base tire that is, intuitive decision-makingprocess is best decision-making process as this helps enabling knowledge from the personal experiences and the collected data are judged with true incidences. This helps in strengthening knowledge, enable critical thinking from a general incident. This is further helpful to create practical resonance to build up efficacy incrosschecking relative factors in making decision.Therefore, in developing ideas with help of the personal experiences might get helpful with this process. Regarding the situation, one can generate valid examples and come to an ultimate point (Simon et al., 2017). The assessment of data, evaluation can be considered with reality with help of this process thus, bridging concepts and final consideration with the collected data gets smooth. Hence, this stage considered to be the best process of decision-making.
Question 2: Statement of a business problem and suggesting the steps for conduction of the research
For the analysis of this question, globalization has been taken as a business problem and research steps associated to this issue have been synced. Problem associated with globalization is a serious concern of the CEOs, regarding the understanding of foreign cultures and adopting business efficacy to deal with foreign countries (Gouran& Hirokawa, 2016). For the penetration of existing products in new markets, having a clear concept of globalization is very necessary. Globalization helps in addressing customer base in different markets and producing designs with the existing products based on the requirement of the customers and helps in gaining new customers. This is further associated with the identification of and recognizing the emigrants and helps in knowing disruptive competitors which in terms helps in outlining points for improvement. Therefore, knowing the market essentials associated with the stated factors is important for understanding international cultures as well as the market better (Isen, 2018). Hence, undermining the better information gathering process and gaining knowledge on globalization for market expansion is the issue associated with market research.
Research steps:
1.The research stages are associated with clearly defining the purpose. In context to the issue of Globalization, organizations find a proper way of understanding the process of addressing market entrants, a way of understanding business policies and culture to expand the business internationally. Getting aligned with the business essentials of the international market so that investing, promoting, and finding customers from different regions get adoptable,

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