Business Decision Making Assignment Sample

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Introduction : Business Decision-Making Model and SWOT Analysis

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The study would provide deep insight into the accurate business decision-making model that the Posturparcel Company should undertake and apply. Moreover, it would also provide a SWOT analysis of the market of the United Kingdom along with referring to the problem-solving techniques that are needed to be adopted by this company.

Task 1

1.1 Utilization of appropriate business decision-making model and identification of major problem within the business 

The accurate business decision-making model is the rational business decision-making model. The different stages of the rational decision-making model are defining the objectives or obstacles, determination of the factual and realistic data, making a list of options, arrangement of options with the help of their value, choosing the suitable option, and finalizing the decision and applying the actions. First of all, the owner or supervisor needs to outline the motive or hindrance they prefer to acquire or tackle. Then they should characterize this allows them to recognize actually the very last consequences their solution wishes to generate. For this step, recall delegating research obligations to the institution or brainstorming all through a crew discussion ( Bag et al., 2021). It is vital for managers to determine the shape of facts concerning their motive or hindrance is relevant to discovering a solution. With the use of factual records, their institution may want to make a list of capable choices for resolutions. They are required to effort to assist their options with proof of the motive they may remedy, reap the organization's objectives or conquer their hindrances. After growing a listing of choices, they would be required to install them via their opportunity of success. 

Alternatives that consist of a suitable scope of achievement definitely have a higher price, at the identical time as options with little evidence might also further have a declined importance. it is some distance crucial to keep in mind the charge of every preference and the manner it could support the business enterprise prevails. With the institution, the supervisor desires to return to a consensus concerning the great preference for a solution to using the data that they had gathered. As quickly as their organization involves a selection on the pleasant solution, truly pointing out their willpower to the solution and asking if any organization members have issues (Nobandegani et al., 2018). After this, the manager should be positioned to impact their answer to their business enterprise. Thus, it can be said that the rational decision-making model very much supports the presence of reasoning, scientific thinking, and logical analysis of the changes and new decisions that are to be made about different operational sectors within the organization. It further makes the managers more mature, analytical, and good observers of prevailing situations. 

On the other hand, it has been identified that the main issues within the organization were the lack of coordination between the employees and the total flow of work and transmission of messages between each department. Moreover, the Posturparcel delivery company seems to face cases of frequent quarrels and conflicts related to the selection of an effective market strategy for supplying the goods to the customers among the managers and employees. This is due to the fact that there was a lack of effective and regular communication between them which generated huge misunderstandings between them (Kondratenko et al., 2018). Moreover, the employees were unable to understand the exact methods and new techniques and digital systems that are to be used for faster and more timely services. It has also been recognized that there were also issues in the financial department as the accountants were not properly providing accurate data about overall purchases and sales.

1.2 Creation of plan for primary and secondary data collection for the above business issue and discussion of issues included in generating complex decisions of business

The primary data is referred to the first-hand information that is accumulated by the researcher itself. However, secondary data is defined as the knowledge that has been gathered by somebody else previously. The planning for accumulation of secondary data is that it could be done through the detailed study and analysis of the above business issue with the help of sources such as reports, books, articles, journals, government publications, and others (Johhson and Sylvia, 2018). On the other hand, the collection of primary data can be done with the help of sources such as conducting interviews, questionnaires, surveys, experiments, observations, and others. Moreover, it has been recognized that the secondary data collection procedures seem to be quite less expensive as only payments for literary sources like books, articles, and reports are to be made. However, the primary data collection seems to be very much expensive and costly due to the fact that much miscellaneous expenditures are involved in it like costs for questions and survey papers, and others. It has also been identified that the accumulation of primary data seems to be very time-consuming as earlier permissions are to be taken from individuals for their interviews and surveys (Prada-Ramallal et al., 2018). However, the time needed for enhancing secondary data is comparatively short.

1.3 Selection and usage of correct methodology tools and techniques for data analysis 

The data collection method that is being selected for the analysis of the data is a primary mixed method consisting of both qualitative and quantitative. Moreover, the research philosophy that is to be selected for analysis of the UK market structure, threats, and opportunities is the positivism research philosophy because both survey and interview are to be done. On the other hand, the research approach that is to be selected is the deductive approach. The research design that is being chosen is the explanatory research design. The sampling technique that is being selected is the simple random sampling method, while the sampling size is 50 respondents for a survey and 2 managers for an interview. The primary qualitative research is being used through conducting interview and survey while the primary quantitative data is being used through acquiring various graphical and numerical data for analysis of the UK market structure, threats, and opportunities. Integration of the qualitative and quantitative methods could then take place via strategies in as a minimum four approaches: analyzing and describing quantitative outcomes with a qualitative method, constructing from qualitative effects to a quantitative aspect, amalgamation of qualitative and quantitative effects, or embedding one. 

Task 2

2.1 Analysis of data accumulated for decision-making procedures and SWOT analysis 

The data that has been gathered about the decision-making procedure is the basic meaning and steps of the rational business decision-making theory which assists in understanding without proper utilization of the intellectual factor. Moreover, the information about rational decision-making has assisted in knowing that this version often consists of an evaluation of the numerous solutions at one time for choice of the individual answer that gives the great popular effects. Furthermore, it has been diagnosed that the crew makes use of the rational decision version in the course of the scenario once they have a period to do studies and conferences, thereby allowing them to make a listing of all likelihood solutions. 

SWOT Analysis of the UK market 

Strengths 

The biggest strength of the UK market is that it has been able to generate a good public reputation and financial gains which made this country the sixth-biggest GDP in the world. Moreover, the market of the UK is very diverse with a large number of importers, distributors, suppliers, and exporters. On the other hand, it has been identified that the country is also having a strong build service sector consisting of highly skilled and educated employees and new digital companies including delivery service companies (Sarsby, 2016). The stable political atmosphere has also helped the country to influence foreign direct investors to make funding in the market in the UK. 

Weaknesses

The current weakness of the UK market is the emergence of Covid pandemic and its related strict lockdown and shutdown of all shops for the last two years which has generated a huge halt and decline in the growth of the profits and shares of the UK market. Moreover, this pandemic led to a lack of generation of foreign reserves and daily incomes from the UK market, thereby making it impossible for many international firms to operate and continue their business anymore (Phadermrod et al., 2019). On the other hand, the UK market has also been facing declination and slow growth due to bad industrial transportation. It has also been identified that there is a tremendous gap in wealth distribution within the business market of the UK.

Opportunity 

The UK has the scope of expanding its business functions within its own domestic market through trade relationships and partnerships with rising and emerging new markets of the Middle East, Asia, and throughout Europe. On the other hand, this will further increase the market value and share of the UK too in the future. The rising industry 4.0, artificial intelligence, and the rapid expansion of the tech culture and business will further create the scope for the UK market to increase the foreign direct investment (Jha-Thakur and Fischer, 2016). On the other hand, the rising immigration of educated migrant workers from Asia and Africa to this country will help the market of the UK to increase diversification in their working pattern. This will also lead to creation of huge jobs and reduce any sort of unemployment in future.

Threats 

The biggest threat is that the UK market is facing tough competition from the rising market of the other European and Asian nations such as Germany, France, China, Indonesia, and Japan. This is because it generates blockades in front of the market of the United Kingdom from dominating the world market as a monopoly. On the other hand, this current pandemic situation has also generated a huge threat for the UK market to again recover its past glory in the global business sphere (Phadermrod et al., 2019). Moreover, the event of Brexit can also be considered a huge threat to the UK's open market existence.

2.2 Usage of accurate business decision making models and evaluation of the procedure

The accurate business decision-making model that could be used is the rational business decision-making model. As per this model, a huge focus is to be given to the utilization of the effective logical and intellectual steps for coming to the suitable solution possible. This model would also further help in understanding the different factors both positive and negative of each department of an organization for business purposes to be taken for decision-making so that operational efficiency can be increased (Wang et al., 2020). On the other hand, this model frequently includes an analysis of the various solutions at one time for selection of the single solution that provides the best standard results. Moreover, it has been recognized that the team utilizes the rational decision model during the situation when they have durations to do research and meetings, thereby permitting them to generate a chart of probable solutions and explanation of the advantages and disadvantages of every factor. The steps that are needed to be followed while using rational decision-making model are:

Defining the obstacle or goals

Firstly, the proprietor or supervisor ought to outline the purpose or impediment they desire to obtain or triumph over. Then they must signify this facilitates them to apprehend precisely what final results their answer needs to generate (Abubakar et al., 2019).

Determining the authentic data 

For this stage, recollect delegating studies responsibilities to the group or brainstorming for the duration of a group assembly. It is necessary for managers to decide the form of data regarding their purpose or impediment is applicable to locating an answer.

Creation of a chart of options

With the usage of the applicable data, their group could make a listing of capacity alternatives for resolutions. They are needed to attempt to help their alternatives with proof of the cause they could remedy, obtain the enterprise's purpose or triumph over their hindrances.

Arranging options through their value

After developing a listing of alternatives, they may be had to set up them through their probability of achievement. Alternatives which have a better scope of fulfillment actually have a better value, at the same time as alternatives with little proof may additionally have a decreased value (Kazimieras Zavadskas et al., 2018).

Selecting the best option

It is far important to remember the price of every choice and the way it is able to assist the organization to be triumphant. With the group, the manager needs to come to a consensus regarding the fine choice for an answer to the usage of the data they had accumulated.

Finalizing the decision and implementing actions

As soon as their group comes to a decision at the fine solution, without a doubt state their dedication to the answer and ask if any group contributors have worried. After this, the supervisor could put into effect their solution in their organization (Abubakar et al., 2019).

Task 3

3.1 Analysis of the problem-solving technique and proposed solution

Defining the problem

The first and foremost problem-solving method is the proper identification, recognition, and defining of the issue or problem that the company might be facing. This is due to the fact that in the absence of proper understanding of the issue that is being faced by organizations, it would be impossible for the manager or owner to further practice the other steps such as creation of alternative solutions and its evaluation cannot be possible at all. On the other hand, it has been recognized that the business-main issue of the Posturparcel Company is the huge competition that they have to face from the market competitor (Pereira et al., 2021). This means that as Posturparcel Company seems to enter the new UK market, they would be facing stiff competition and rivalry from the already established and prevailing market competitors. Hence, it will be very difficult in the initial phase for them to gain a stable position and a significant number of customers. Moreover, they might also have to face intimidation from the owners of the competitors thereby, generating taking of governmental and legal action in the very first attempt. The recognition of the problem will additionally help the owner and manager of Posturparcel Company to be dedicated and focused on the problem and thereby, chalking out alternative solutions for mitigating it. 

Alternative Solution

The next technique that Posturparcel Company had to follow is the proper understanding of the consequences of the prevailing competition in future and thereby, generating effective alternative solutions and trying to diminish it. On the other hand, it has also been identified that the alternative solution that this organization should create for reducing threats of high competition in the UK market is firstly, doing deep studies and research on their rivals and thereby, finding out their strengths and weaknesses. This will help the manager of Posturparcel Company to be very much aware of the additional technological, digital, and market wise developments, innovations, and improvements that they have to make for gaining an edge over their competitors in the very first moment (Buheji, 2018). This will further make this company conscious of the regular changes and developments that are being done by their rivals. Hence, it can be said that the creation of alternative solutions will make the company feel relaxed and tension free in the sense that they would at least take initial preventive measures which will help them gain a substantially stable position in the market in the UK.

Evaluation and selection of alternative 

This is the most important problem-solving technique that would help the managers and owners of the company in enhancing the advantages and disadvantages of the alternative solution that has been made and selected. This means that they would be able to analyze the different positive or negative consequences that they have to face due to the chosen alternatives. If the selected alternative solution of the organization seems to generate a positive outcome then they must go forward with it. On the other hand, if they seem to discover any flaws in the alternative solutions, then they must make meetings and consider the weaknesses of the solutions and thereby, correct and amend it so that no further chances of negative outcomes can be generated from it after its final application (Atanasiu, 2021). Hence, it can be said that the managers and owners of the Posturparcel Company should take into consideration the different inabilities that their chosen alternatives of selecting the method of doing deep research about new progress and innovations that are being made by the competitors are having very much. Thereby, they should enhance their better understanding of certain changes in their way of doing competitor's analysis which should be done by them.

Implementation

After the proper inspection of the strengths and weaknesses of the selected solution and its related correction by the Posturparcel Company, they are needed to finalize this alternative solution as the ultimate technique. Thereafter, they should apply and implement it into practice after the finalization when they will initially enter and create a certain number of customers and a certain amount of sales in the market of the United Kingdom. Hence, it can be said that the establishment and success of proposed solutions can only be achieved by this company after enhancing its implementation of it in the real business world (Buheji, 2018). On the other hand, it has been found that there are many organizations that make the implementation of the solutions in the wrong way and at the wrong time, thereby gaining no achievements. Hence, it can be said that the manager and owner of Posturparcel Company should have knowledge about the way all the finalized alternative solutions are to be applied and the exact duration or period when they are to be implemented so that fruitful results can be gained by them.

Recommendation 

It can be recommended that the Posturparcel Company should firstly analyze the different organizational problems that are pertaining to their offices and different departments and thereby make logical decision-making steps (Wang et al., 2020). Moreover, they are also needed to analyze the different regions where the changes are to be made for entering into the market of the UK. It is also necessary for them to recognize the power and weaknesses of the UK market and thereby, make effective planning for gaining a stable position, market value, and profits in the market. They are needed to adopt rational business decision-making models for solving the problems.

Conclusion 

From the above study, it has been analyzed that the market of the UK is very diverse with a large number of importers, distributors, suppliers, and exporters. On the other hand, it has been identified that the country is also having a strong build service sector consisting of highly skilled and educated employees and new digital companies including delivery service companies.