Mdq step 3 | Management homework help
MDQ STEP THREE: BUILDING THE DECISION
The purpose of this week’s brainstorming discussions is to address the type of information HH needs to gather in coming up with creative alternatives to use in the MDQ decision making model. Useful information involves researching anything that the decision maker needs to know that might influence the decision making process. This includes experience from past or future situations as well as factual information. Even though the decision maker has no control over future events, information needs to be gathered to anticipate outcomes, consequences or actions when acting on HH’s alternatives.
In Building the Decision, the decision maker will create FOUR viable alternatives. The case study mentions several obvious alternatives, such as:Partnering with the investors or increasing E-commerce sales. However, NONE of these alternatives are strong enough on their own to meet all the objectives HH would like from the decision. Harry must look for ways to combine them with other possibilities to make stronger alternatives. The expectation is to create alternatives that are creative, demonstrate critical thinking, use additional research, and meet as many of the objectives as possible. REMEMBER THE ALTERNATIVES MUST SATISFY AS MANY OBJECTIVES AS POSSIBLE.
1. By FRIDAY, complete the following:
- All conclusions, justifications, reasoning, and explanations must be supported with course material in the form of APA in-text citations (page/paragraph numbers required) and a reference list.
- Discuss in one paragraph the type of information the HH needs to gather to make a decision. Discuss the biases and traps that should be avoided in gathering information and interpreting (selecting it). Watch your predisposition to select information that is in your comfort zone or might lead to a problem solving approach rather than a decision making one.
- Create FOUR possible alternatives for HH. Discuss each of these alternatives in separate paragraphs by explaining the alternative in detail, pointing out the biases, and potential consequences. Additional research will be required to support their viability.