Part ii mgt 350


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Part ii mgt 350

  1. 1. PARADISE PART II1 Paradise Part II MGT350 Nik’s organization is going into the project a little deeper and need to decide if Kava isthe right thing to do. In Decisions in Paradise Part I, issues facing by Nik’s organization bothinternal and external were identified and also possible solutions were addressed. Decision-
  2. 2. PARADISE PART I 2making is an important process to effectively decide if Kava has potential. This paper willdiscuss the following topics: decision-making techniques, steps used in applying the techniques,and an examination of the decision-making model chosen with an explanation of how itinfluences and/or the proposed solution Decision-Making Techniques Decision making is a necessary skill that a leader should master. Nik and Alex need tomaster it so that they can make timely, well-considered decisions. If Nik and Alex make poordecisions, the project in Kava will come to end and they will have failed the company, the islandof Kava and the stakeholders. The decision making techniques that Nik and Alex should considerto master the decision making process are making the choice in advance, compare similaroptions, avoid decisions under pressure, and finally used commitment devices. If Nik and Alex make decisions in advance it will make Nik and Alex in charge of thesituation. Even though Nik and Alex have to overcome many obstacles, making the decision inadvance will likely cut down on detrimental outcomes. This will also assist in the finishing wellahead of time and if something goes wrong they have time to fix whatever comes in their way. Nik and Alex need to compare the options of decisions. Without comparing them, thiswill justify for bad decision. By comparing options, Nik and Alex will be able to make thechoice in their long-term interests which that is seen the Kava project come a reality. Even though Kava has many obstacles, Nik and Alex need to find their peace and notmake decisions under pressure. They should try to avoid making decisions under pressure so thatthey can consider what they should do and not make mistakes. If they give time to think, they aremuch more likely to reach the right decision.
  3. 3. PARADISE PART I 3 The technique to use commitment devices is a terrific tool for decision making. Forexample, stay dedicated to the people of Kava, the long-term goal and the stakeholders as well. Ifthey stay committed the decisions will come easy and will not get off track of their project. Step-by-Step The first step that Nik and Alex would need to take is complete a cost benefit analysisand determine the advantages and disadvantages of the project of Kava by using this decision-making process and the techniques mention before. Using the cost benefit analysis may helpidentify any unexpected costs that may be needed. The second step would be to identify theperspective, limitations, and timelines. It is helpful when knowing the timeline and extent of theproject to help determine the cost of the project. The third step would be to assign the costs.During this step it is important to classify and allocate the costs likely to be acquiring whenstarting this project. The fourth step in this process is to assign financial values to the benefits.The fifth step is to consider the longer-term effects. If the project were to go on longer thanexpected, it is important to make sure that the future value is calculated. In the last step it isimportant to beware of assumptions. During this step it is necessary to make sure that Nik andAlex are attentive of the statements that have been made to arrive at all the numbers that havebeen used in the cost/benefit analysis. Decision-Making Model After Nik completes the step-by-step of cost benefit analysis, he should use the nine-stepdecision-making model to reach his decision. The first step that should be taken is identifying theproblem. Once the problem is identified a successful decision can be made. If the problem is not
  4. 4. PARADISE PART I 4identified correctly then the correct decision will not be made. The second step is to identify thedecision criteria. The third step of this process is to evaluate the effect of the problem. The fourthstep is to identify causes of the problem and the fifth step in the process is to frame alternatives.During this step it is important to try to think of other solutions that can help resolve the problemat hand. The sixth step of the rational decision-making model is to evaluate impacts ofalternatives. This step is important so that the decision maker can determine the advantages anddisadvantages of each alternative. The seventh step in this process is to choose the best decision.However, it does not end here. The last two steps are implement decision and measure impacts.Using this decision-making process will allow Nik to go through and determine whichalternatives have the best advantages and disadvantages. This will allow him to make hisdecision without possessing a bias opinion or thinks is best. Conclusion The cost benefit analysis will be useful to help Nik determine if it is cost worthy ofadding this organization to Kava. If all works out well the decision making techniques and thenine-step decision process model will help Nik make the best decision. The decision-makingprocess could take some time, but it will be worth it when Nik makes the correct decision and theorganization sees the dream come true. ReferenceUniversity of Phoenix. (2013). Decisions in Paradise Business Scenario. Retrieved from University of Phoenix, MGT 350 website