1PAGE Table of Contents1Introduction2Discussion (Week 8.docx

1
PAGE
Table of Contents
1Introduction
2Discussion (Week 8)
2Decision to be Made
2Stakeholders
4Conclusion
5Discussion (Week 9)
5States of Nature
8Decision Tree
9Conclusion
10References
This week’s paper identifies an important decision I have to
make in my Company. This is a group decision that involves the
provision of a comprehensive enterprise resource planning
technological system for our operations.
Introduction
Decision-making is an essential element in any society;
determining specific actions people take to achieve progress.
Moreover, it is always important for individuals with the
responsibility to make critical decisions to understand the
effects they are likely to have when applied in different
contexts. Thus, they have to understand the environment in
which the decisions they make will be implemented and the
effects they are expected to have to all stakeholders.
Furthermore, the level of involvement of various parties has to
be considered before choices are made by an individual because
this will determine how a decision will be received (Adair,
2013). In this paper, an important decision that needs to be
made will be discussed in several steps, showing its
consequences to various people it targets.

Discussion (Week 8)
Decision to be Made
The company needs a comprehensive enterprise resource
planning technological system to make its operations more
efficient. In effect, the information technology manager has
been assigned the process to search for different vendors who
will undergo a competitive bidding process. After the process is
finalized, the winner will be given the task of developing and
implementing an ERP system, which is customized to conform
to the company’s needs (Adair, 2013). Crucially,
the firm is a mid-sized enterprise with a staff of about 250
employees working in various departments. Therefore, the
decision made affects all functions in the business because it
will determine the nature of results it is likely to attain from
various activities. Moreover, some employees do not have the
technical skills required to operate the system which is likely to
affect how it will be implemented in the firm. Consequently, all
stakeholders have to be involved in the decision-making process
to enable the company to realize all objectives it has set in the
industry (Adair, 2013). Stakeholders
There are different stakeholders involved in the process to
ensure that when the system is implemented, it addresses all
relevant organizational needs. Firstly, managers of various
departments will liaise with the IT manager and propose the
format the system will run on to ensure it enhances the
organization’s capacity. Critically, they will be involved in
developing a budget to ensure all costs are assessed effectively
before the system begins to operate. Moreover, employees will
be encouraged to share their views about the role they can play
after some of its important functions are automated (Adair,
2013). Furthermore, it is also necessary for all employees to
undergo basic training on how to perform various functions
related to the system. Likewise, customers who are primary
stakeholders will use the ERP system to order different products
through electronic methods. Lastly, the organization’s suppliers,

who are secondary stakeholders will also be made aware of the
new system that is meant to
streamline procurement and delivery processes in the firm.
The overall organizational culture supports innovation and any
change that improves the quality of output is received
positively. However, some employees and managers lack the
necessary information technology skills making it hard for them
to deal with the demands of the new system. Similarly, the firm
does not utilize modern technological tools at its disposal to
enhance performance and efficiency in various departments.
Therefore, more funds should be invested in training both
managers and employees to make them more receptive towards
technological solutions that boost performance (Maldonato,
2010). Similarly, there are greater benefits the firm will realize
out of using technological tools to market its products to its
clients in various locations. As a result, managers should share
ideas with all employees in their respective departments to
make them understand what these changes are likely to achieve
in the organization in the long term.
In effect, this is a group decision because
it affects the interests of all stakeholders in the organization.
Managers are interested in a system enhancing transparency in
various departments without compromising the quality of output
attained by their subordinates. On the other hand, employees
require the necessary skills and tools to surpass the performance
expectations the organization has set. Thus, managers will have
a greater contribution to the final enterprise resource planning
system adopted to govern different functions in the organization
(Maldonato, 2010). More importantly, they will also rate the
general performance of the system in achieving the expectations
the firm has set in the industry as a whole. Consequently, they
will point out any problems as the system is being implemented
to prevent unnecessary losses in the long run. Therefore, this
will allow the organization to make all the necessary

improvements to ensure the expectations of all stakeholders are
fulfilled. Conclusion
The setting up of a comprehensive ERP system requires the
involvement of all stakeholders to ensure the organization
realizes good outcomes in the long run. Furthermore, all
standards should be followed to ensure the firm implements a
strategy which is beneficial to its long-term interests in the
industry. As a result, all managers and employees have to be
receptive towards the process to ensure it satisfies all the
expectations set in the long-term.
Discussion (Week 9)
States of Nature
Decision-making is technically a process of choosing the best
alternative among the choices provided given the available
information that will help in comparing the strengths, as well as
the weaknesses of each option. If there were no alternatives to
the existing course of action, then it would be difficult to make
any decision. However, such a case is often rare since a
decision must be made based on the alternatives. In personal
decision-making, some qualitative factors could be more crucial
than cost when making a decision. However, in business
decision-making, decisions are made after determining the
alternative that has the least cost or the most revenue.
Under this scenario, the company has three alternatives to
choose from, that is, give the tender to vendor A, B, or C to
develop and implement an ERP system, which is customized to
conform to the company’s needs. If the company chooses
vendor A, the initial cost would be $40,000 whereas if it
chooses vendor B, the initial cost would be $30,000. On the
other hand, if it chooses vendor C, the initial cost would be
$50,000. However, after the installation and implementation of
this system, the demand for the company’s products would be
low, moderate, or high. If the demand would be low, then the
probability would be 0.2 whereas if the demand would be

moderate, then the probability would be 0.5. On the other hand
, if demand would be high, then the probability would be 0.3. If
the company chooses vendor A and there is a low, moderate, or
high demand, then the net present value would be $30,000,
$50,000, and $60,000 respectively. If vendor B is chosen and
there is a low, moderate, or high demand, then the net present
value would be -$20,000, $40,000, and $80,000 respectively. On
the other hand
, if vendor C is chosen and there is a low, moderate, or high
demand, then the net present value would be $30,000, $50,000,
and $70,000 respectively. The information above can be
summarized in the table below
:
Possible Future Demand
Alternatives
Low
Moderate
High
Vendor A
$30,000
$50,000
$60,000
Vendor B
($20,000)
$40,000
$80,000
Vendor C
$30,000
$50,000
$70,000
The payoffs are indicated in the table above. In this scenario,
the payoffs are stated in terms of net present values, which
shows the equivalent current dollar values of the estimated
benefit from the installation of the ERP system. This is the best
and the most convenient measure since it compares the available

alternatives to reach on the one that has the highest benefit. If
vendor A is chosen, the payoffs for the three probable states of
nature will be $30,000, $50,000, and $60,000 respectively. For
vendor B, low demand will be tantamount to a NPV of -$
20,000 whereas moderate demand would yield a net present
value of $40,000. On the other hand, a high demand would
result in a net present value of $80,000. However, if the
company chooses vendor C, low demand will yield a NPV of
$30,000 whereas a moderate demand will equal to a NPV of
$70,000.
One of the challenges of the decision maker is selecting the best
alternatives among the three choices, considering the net
present values. For him or her to arrive at the best decision, he
or she must identify the probability of occurrence for all the
given states of nature (unless one of the three alternatives is
dominant, for instance, would yield the highest net present
value to each state of nature. Since the states of nature for any
random variable must be collectively exhaustive and mutually
exclusive, their respective probabilities must sum up to 1.00. In
fact, these probabilities are opinions of experts, which are
always subjective. Therefore, any decision maker must always
be careful not to ask some leading questions, and must be aware
of psychological biases, which include intentional
underestimation or overconfidence by sales/marketing managers
(to make it much easier to meet these goals).
The widely used technique is the expected value method given
the respective probabilities of each state of nature. When you
calculate the expected values alternative, the one that has the
highest value is chosen (when higher is the best, such as for the
Net Present Value). The expected value of any given alternative
is the addition of the states of nature of the payoff times the
probability of each state of nature.
Decision T
ree

$30,000
Low (.2)
Moderate (.5)
$50,000
Vendor A
High (.3)
$60,000

Low (.2)
($20,000)
Vendor B
Moderate (.5)
$40,000
High (.3) $80,000
Vendor C
Low (.2)
$30,000

Moderate (.5)
$50,000
High (.3)
$70,000
Conclusion
The
setting up a comprehensive ERP system requires the
realizes good outcomes in the long run. Further, all standards
should be followed to ensure the firm implements a strategy
which is beneficial to its long-term interests in the industry. As
a result, all managers and employees have to be receptive
towards the process to ensure it satisfies all the expectations set
in the long-term. All the same, before setting out to install the
system, the management must choose the best alternative that
gives the highest benefit in the long run. This means that they
must scrutinize the initial costs and the net present values of all
the available alternatives. Therefore, the alternative that has the
highest net present value must be chosen.
Adair, J. (2013). Decision Making and Problem Solving
(Creating Success). Croydon: CGI Group Ltd.
Maldonato, M. (2010). Decision making: Towards an
evolutionary psychology of rationality. Sussex Academic Press.

Student Name
Total Points Possible
Total Points Received
Late Work Percentage (select from drop down
menu)
Late Work Deduction
Final Points Received
75
67.15
0%
0.00
67.15
Criterion
Superior Criteria (100%)
Excellent Criteria (95%)
Satisfactory Criteria (85%)
Marginal Criteria (75%)

Unacceptable Criteria (0%)
Points Possible
Evaluation (select from drop down menu)
Points Received
Faculty Feedback
Element 1: Improved Descriptions of the Decision (10 points
maximum)
Student integrates instructor feedback and incorporates
additional details and insights to provide better clarity in
his/her descriptions of the decision.
Student integrates instructor feedback and incorporates
additional details and insights to provide better clarity in
his/her descriptions of the decision. There are one or two minor
errors.
Student integrates some of the instructor feedback and enhances
his/her descriptions of the decision.
Student makes minimal changes to improve descriptions of the
decision.
Does not meet minimal standards.
10
75%
7.5
Please see comments in paper. Where did you idetify what the
decision environment is?
Element 2: "States of Nature" & Alternative
Solution
s (15 points maximum)
Student provides a detailed and thorough description of the
"states of nature" with corresponding likelihoods, as well as
potential alternative solutions to the problem, and the utility or

payoff associated with each alternative. Excellent examples and
resources support thinking.
Student provides a detailed and thorough description of the
payoff associated with each alternative. Excellent examples and
resources support thinking. There are one or two minor errors.
Student provides a good description of the "states of nature"
with corresponding likelihoods, as well as potential alternative
solutions to the problem, and the utility or payoff associated
with each alternative. Some details are lacking or missing.
Some examples and resources support thinking.
Student provides a cursory or incomplete description of the
payoff associated with each alternative. Many details are
missing. Few examples and resources support thinking.
15
85%
12.75
Please see comments in apper. You need to provide the analysis
for your decision environment (risk and uncertainty) using the
methods we covered in class.
Element 3: Decision Tree (15 points maximum)

Student creates an accurate decision tree that fully captures
his/her decision problem. No errors are evident.
Student creates an accurate decision tree that fully captures
his/her decision problem. There are one or two minor errors.
Student creates an mostly accurate decision tree that represents
his/her decision problem. Some errors are evident.
Student does not create an accurate decision to tree to represent
his/her decision problem. Many errors are evident.
15
100%
15
Element 4: Critical Thinking (10 points maximum)
The submission demonstrates exceptional ability to engage in
scholarly thinking and writing. Applies new and original ideas
to produce an effective, logical presentation on the selected
organization. Recognizes industry-specific and generalized
impacts and presents viable solutions. There are no errors
related to the analysis or critical thinking exhibited on the
assignment.

impacts and presents viable solutions. However, there are one or
two minor errors in the critical thinking exhibited on the
assignment.
The submission demonstrates higher levels of thinking and
writing. Applies somewhat new and original ideas to produce a
plausible presentation on the selected organization. Recognizes
industry-specific and generalized impacts.
The submission does not follow all instructions. Minimally
demonstrates scholarly thinking and writing. The submission
shows little creative application and is predictable. Minimally
recognizes industry-specific and general impacts.
10
85%
8.5
Please see comments concerning decision environment.
Element 5: Organization (9 points maximum)
Student's submission is well organized. The format is easy to
follow, flows smoothly and logically from one idea to another.
There are one or two minor errors.
Student's submission is mostly well organized and most
transitions are easy to follow but, at times, ideas are unclear.
Student's submission is inconsistent and confusing; format is

difficult to follow; transitions of ideas are abrupt or distracting.
9
100%
9
Element 6: Written Delivery Style & Grammar (8 points
maximum)
Student consistently follows APA writing style and basic rules
of formal English grammar and written essay style. Student
communicates in a cohesive, logical style. There are no spelling
or grammar errors.
communicates in a cohesive, logical style. There are one or two
minor errors in spelling or grammar.
Student mostly follows APA writing style and basic rules of
formal English grammar and written essay style. Student mostly
communicates in a cohesive, logical style. There are some
errors in spelling or grammar.
Student does not follow APA writing style and basic rules of
formal English grammar and written essay style and does not
communicate in a cohesive, logical style.
8

95%
7.6
Please see paper.
Element 7: Formal and Appropriate Documentation of Evidence,
Attribution of Ideas (APA Citations) (8 points maximum)
Student demonstrates full adherence to APA style with respect
to source attribution, references, heading and subheading logic,
table of contents and lists of charts, etc. There are no APA
errors.
table of contents and lists of charts, etc. There are one or two
minor errors in APA style or format.
Student mostly adheres to APA style with respect to source
attribution, references, heading and subheading logic, table of
contents and lists of charts, etc. Some errors in APA format and
style are evident.
Student demonstrates weak and/or inconsistent adherence to
APA style with respect to source attribution, references,
heading and subheading logic, table of contents and lists of
charts, etc. Several errors in APA format and style are evident.
8
85%
6.8

Please see paper.
�Please make sure your paper is set up in portrait.
�I still do not see your decision environment. Is the
environment certain, uncertain, or risky? You need to identify
this so you can apply the proper methods based on what we
learned in class.
�Check for proper format per APA
�I do not think you need this word – it does not make sense
here.
�Are there more primary ans secondary stakeholders?
�Incorporate proper apa headers when you change topics.
�Format – should be left justified – also see previous
comments.

�
�Use a different transition because you have used this more
than once already.
�Please properly format and label tables.
�You should describe what this is and how it is calculated.
�Please properly label figures, etc.
�Remove otherwise the sentence does not make sense.
�Actually, you also need to incorporate methods based on the
decision environment.

PAGE
Table of Contents
1MGMT 8045M Final Project
1Introduction (Week 8)
1Discussion
3Conclusion
5References
This week’s paper identifies an important decision I have to
make in my Company. This is a group decision that involves the
provision of a comprehensive enterprise resource planning
technological system for our operations.
Introduction (Week 8)
Decision-making is an essential element in any society;
determining specific actions people take to achieve progress.
Moreover, it is always important for individuals with the
responsibility to make critical decisions to understand the
effects they are likely to have when applied in different
contexts. Thus, they have to understand the environment in

which the decisions they make will be implemented and the
effects they are expected to have to all stakeholders.
Furthermore, the level of involvement of various parties has to
be considered before choices are made by an individual because
this will determine how a decision will be received. In this
paper, an important decision that needs to be made
will be discussed in several steps, showing its consequences to
various people it targets.
Discussion
The company needs a comprehensive enterprise resource
planning technological system to make its operations more
efficient
. In effect, the information technology manager has been
assigned the process to search for different vendors who will
undergo a competitive bidding process. After the process is
finalized, the winner will be given the task of developing and
implementing an ERP system, which is customized to conform
to the company’s needs (Adair, 2013). Crucially, the firm is a
mid-sized enterprise with a staff of about 250 employees
working in various departments. Therefore, the decision made
affects all functions in the business because it will determine
the nature of results it is likely to attain from various activities.
Moreover, some employees do not have the technical skills

required to operate the system which is likely to affect how it
will be implemented in the firm. Consequently, all stakeholders
have to be involved in the decision-making process to enable
the company to realize all objectives
it has set for itself in the industry.
There are different stakeholders
involved in the process to ensure that when the system is
implemented, it addresses all relevant organizational needs.
Firstly, managers of various departments will liaise with the IT
manager and propose the format the system will run on to
ensure it enhances the organization’s capacity. Critically, they
will be involved in developing a budget to ensure all costs are
assessed effectively before the system begins to operate.
Moreover, employees will be encouraged to share their views
about the role they can play after some of its important
functions are automated (Adair, 2013). Moreover,
it is also necessary for all employees to undergo basic training
on how to perform various functions related to the system.
Likewise, customers are important stakeholders who will use
the ERP system to order different products using the electronic
methods. Lastly, the organization’s suppliers will also be made
aware of the new system that is meant to streamline
procurement and delivery processes in the firm.

The overall organizational culture supports innovation and any
change that improves the quality of output is received
positively. However, some employees and managers lack the
necessary information technology skills making it hard for them
to deal with the demands of the new system. Similarly, the firm
does not utilize modern technological tools at its disposal to
enhance performance and efficiency in various departments.
Therefore, more funds should be invested in training both
managers and employees to make them more receptive towards
technological solutions that boost performance (Maldonato,
2010). Similarly, there are greater benefits the firm will realize
out of using technological tools to market its products to its
clients in various locations. As a result, managers should share
ideas with all employees in their respective departments to
make them understand what these changes are likely to achieve
in the organization in the long term.
In effect, this is a group decisio
n because it affects the interests of all stakeholders in the
organization. Managers are interested in a system enhancing
transparency in various departments without compromising the
quality of output attained by their subordinates. On the other
hand, employees require the necessary skills and tools to
surpass the performance expectations the organization has set.
Thus, managers will have a greater contribution to the final

enterprise resource planning system adopted to govern different
functions in the organization (Maldonato, 2010). More
importantly, they will also rate the general performance of the
system in achieving the expectations the firm has set in the
industry as a whole. Consequently, they will point out any
problems as the system is being implemented to prevent
unnecessary losses in the long run. Therefore, this will allow
the organization to make all the necessary improvements to
ensure the expectations of all stakeholders are fulfilled.
Conclusion
The setting up of a comprehensive ERP system requires the
realizes good outcomes in the long run. Furthermore, all
standards should be followed to ensure the firm implements a
strategy which is beneficial to its long-term interests in the
industry. As a result, all managers and employees have to be
receptive towards the process to ensure it satisfies all the
expectations set in the long-term.
Adair, J. (2013). Decision Making and Problem Solving
(Creating Success). Croydon: CGI Group Ltd.
Maldonato, M. (2010). Decision making: Towards an
evolutionary psychology of rationality. Sussex Academic Press.

Student Name
Total Points Possible
Total Points Received
Late Work Percentage (select from drop down
menu)
Late Work Deduction
Final Points Received
75
60.75
0%
0.00
60.75

Criterion
Superior Criteria (100%)
Excellent Criteria (95%)
Satisfactory Criteria (85%)
Marginal Criteria (75%)
Unacceptable Criteria (0%)
Points Possible
Evaluation (select from drop down menu)
Points Received
Faculty Feedback
Element 1: Description of the Decision (10 points maximum)
Student's description is clear and concise, identifying the salient
points related to the important decision he/she will need to
make.
points related to the important decision he/she will need to
make. There are one or two minor errors.
Student identifies the important decision he/she will need to
make. Some details are lacking or missing.

Student vaguely identifies the decision he/she will need to
make. Many details are missing.
10
95%
9.5
Please support your writing with concepts we learned in class.
Element 2: Description of the Stakeholders Involved (10 points
maximum)
points related to the stakeholders involved in the important
decision he/she needs to make.
points related to the stakeholders involved in the important
decision he/she needs to make. There are one or two minor
errors.
Student identifies the stakeholders involved in the important
decision he/she needs to make. Some details are lacking or
missing.
Student vaguely identifies the decision he/she will need to
make. Many details are missing.
10
95%
9.5

See comments in paper.s.
Element 3: Description of Decision Environment (10 points
maximum)
points related to the decision environment.
points related to the decision environment. There are one or
two minor errors.
Student identifies the decision environment. Some details are
lacking or missing.
Student vaguely identifies the decision environment. Many
details are missing.
10
0%
0
Missing this information
Element 4: Individual or Student Decision (10 points
maximum)
Student presents a detailed and thorough explanation of whether
his/her decision is an individual or group decision. Excellent
examples and resources support explanation.
Student presents a detailed and thorough explanation of whether
his/her decision is an individual or group decision. Excellent
examples and resources support explanation. There are one or

two minor errors.
Student presents a good explanation with some details of
whether his/her decision is an individual or group decision.
Some examples and resources support explanation.
Student presents a cursory or incomplete explanation of whether
his/her decision is an individual or group decision. Few
examples and resources support explanation.
10
95%
9.5
You might incorporate key information concerning advantages
and disadvantages.
Element 5: Critical Thinking (10 points maximum)
impacts and presents viable solutions. There are no errors
related to the analysis or critical thinking exhibited on the
assignment.

impacts and presents viable solutions. However, there are one or
two minor errors in the critical thinking exhibited on the
assignment.
The submission demonstrates higher levels of thinking and
writing. Applies somewhat new and original ideas to produce a
plausible presentation on the selected organization. Recognizes
industry-specific and generalized impacts.
The submission does not follow all instructions. Minimally
demonstrates scholarly thinking and writing. The submission
shows little creative application and is predictable. Minimally
recognizes industry-specific and general impacts.
10
85%
8.5
Missing section concerning decision environment.
Element 6: Organization (9 points maximum)
There are one or two minor errors.
Student's submission is mostly well organized and most
transitions are easy to follow but, at times, ideas are unclear.
Student's submission is inconsistent and confusing; format is

difficult to follow; transitions of ideas are abrupt or distracting.
9
95%
8.55
See above.
Element 7: Written Delivery Style & Grammar (8 points
maximum)
communicates in a cohesive, logical style. There are no spelling
or grammar errors.
communicates in a cohesive, logical style. There are one or two
minor errors in spelling or grammar.
Student mostly follows APA writing style and basic rules of
formal English grammar and written essay style. Student mostly
communicates in a cohesive, logical style. There are some
errors in spelling or grammar.
Student does not follow APA writing style and basic rules of
formal English grammar and written essay style and does not
communicate in a cohesive, logical style.
8

95%
7.6
Please see paper.
Element 8: Formal and Appropriate Documentation of Evidence,
Attribution of Ideas (APA Citations) (8 points maximum)
table of contents and lists of charts, etc. There are no APA
errors.
table of contents and lists of charts, etc. There are one or two
minor errors in APA style or format.
Student mostly adheres to APA style with respect to source
attribution, references, heading and subheading logic, table of
contents and lists of charts, etc. Some errors in APA format and
style are evident.
Student demonstrates weak and/or inconsistent adherence to
APA style with respect to source attribution, references,
heading and subheading logic, table of contents and lists of
charts, etc. Several errors in APA format and style are evident.
8
95%
7.6

Please see paper.
�Where is the section concerning the decision environment?
�It looks like your line spacing is not consistent.
�consider supporting your writing with appropriate reference
information.
�Decision to be made. You should have a paragraph header for
this section.
�
�You need a header for the stakeholder section.
�Use a different transition – you used “moreover” in the
previous sentence.

�Please discuss stakeholders in the context of whether they are
primary or secondary stakeholders.
�Group decision
© 2014 Laureate Education, Inc.
PAGE

1PAGE Table of Contents1Introduction2Discussion (Week 8.docx

Recommended

Recommended

More Related Content

Similar to 1PAGE Table of Contents1Introduction2Discussion (Week 8.docx

Similar to 1PAGE Table of Contents1Introduction2Discussion (Week 8.docx (11)

More from felicidaddinwoodie

More from felicidaddinwoodie (20)

Recently uploaded

Recently uploaded (20)

1PAGE Table of Contents1Introduction2Discussion (Week 8.docx