BBA 312 Decision Analysis Midterm Report Vladimir Manaev Tas

Bba 312 Decision Analysis Midterm Report Vladimir Manaevtask B

Your task is to select an important decision you have to make in your personal or professional life. The assignment should be structured into the following stages:

  1. Situation: Describe the situation you are currently facing, explaining why this decision is important to you personally or professionally.
  2. Factors: Identify the key factors influencing your decision and how these impact available choices.
  3. Choices: List the various alternatives available and discuss if there are additional options worth exploring.
  4. Criteria: Specify the criteria you will use to evaluate each choice and how you will weigh their importance.
  5. Analysis: Analyze each choice against your criteria, assessing strengths and weaknesses, advantages, and disadvantages.
  6. Conclusion: Choose the most suitable option based on your analysis, explaining why it aligns with your objectives.
  7. Lesson Learned: Reflect on what you gained from this decision analysis exercise.

Submission is due in Week 6 via Moodle (Turnitin) by November 11, 2023, at 23:59 CET. The report should not exceed 2000 words, excluding cover, table of contents, references, and appendix. Use Arial 12 pt font, justified alignment, and Harvard citation style for references. The report should demonstrate clear decision analysis application with academic rigor and proper formatting.

Paper For Above instruction

In this midterm report, I will explore a significant decision I am currently facing in my professional life, specifically regarding whether to accept a promotion offer or seek alternative opportunities. This decision bears critical importance to my career trajectory, financial stability, and personal development. The structured decision analysis approach will be employed to systematically evaluate the available options through multiple stages.

1. Situation

The situation involves a leadership promotion within my current organization. The promotion offers increased responsibilities, salary advancement, and recognition. However, it also entails a higher workload, longer hours, and relocation to a different city. This decision is important because it affects my career growth, work-life balance, and personal goals. Accepting the promotion could accelerate my professional development, whereas declining might allow me to focus on personal projects or explore other job opportunities.

2. Factors

The key factors influencing this decision include career progression, financial benefits, work-life balance, job stability, organizational culture, and geographic location. These factors impact my choices as follows: career growth aligns with my long-term ambitions, financial incentives support my financial goals, work-life balance concerns affect my personal wellbeing, and organizational culture influences my job satisfaction. The relocation factor also impacts lifestyle considerations and family commitments.

3. Choices

The available options are: (a) accept the promotion and relocate; (b) decline the promotion and stay in the current role; (c) negotiate the terms of the promotion; or (d) seek opportunities outside the organization. Additional options could include delaying the decision or pursuing further professional development before making a commitment.

4. Criteria

The evaluation criteria include career advancement potential, salary increment, personal fulfillment, work-life balance, stability of the new role, and alignment with personal values. Each criterion will be weighted based on its importance to my overall objectives, for instance: career progression (40%), personal fulfillment (20%), work-life balance (15%), salary (15%), and stability (10%).

5. Analysis

Accepting the promotion offers significant career advancement and salary benefits, presenting a clear strength. However, it compromises work-life balance and entails relocation, which pose considerable challenges. Declining the promotion preserves current stability and personal life but limits career growth. Negotiating the terms could mitigate some disadvantages by adjusting workload or remote working options. Seeking opportunities outside the organization offers wider possibilities but involves uncertainty and risk.

Assessing each alternative against the criteria reveals that acceptance aligns well with career goals but less so with personal life. Negotiation could optimize this alignment, balancing professional and personal interests. Declining maintains current stability but sacrifices growth prospects. External moves, while potentially rewarding, require significant effort and uncertainty.

6. Conclusion

Based on this analysis, I recommend accepting the promotion with negotiated terms that address workload and relocation concerns. This option offers the best alignment with my long-term career objectives while allowing some flexibility to preserve work-life balance. It also demonstrates a proactive approach to managing challenges, enabling professional advancement without severely compromising personal priorities.

7. Lesson Learned

This decision analysis exercise highlighted the importance of systematically evaluating options beyond intuitive judgments. It reinforced the value of clearly defining decision criteria and objectively assessing alternatives. The process demonstrated that a rational, structured approach can facilitate balanced decision-making, reduce bias, and enhance confidence in the chosen path.

References

  • Hammond, J. S., Keeney, R. L., & Raiffa, H. (2015). The Hidden Traps in Decision Making. Harvard Business Review, 83(9), 118-126.
  • Edwards, W. (2016). Decision Theory and Behavioral Decision Theory. In G. Wright & P. Ayton (Eds.), A Companion to Decision Making. Wiley.
  • Saaty, T. L. (2008). Decision Making with the Analytic Hierarchy Process. International Journal of Services Sciences, 1(1), 83-98.
  • Clemen, R. T., & Reilly, T. (2014). Making Hard Decisions: An Introduction to Decision Analysis. Cengage Learning.
  • Bazerman, M. H., & Moore, D. A. (2013). Judgment in Managerial Decision Making. Wiley.
  • Keeney, R. L. (2012). Value-Focused Thinking: A Path to Creative Decisionmaking. Harvard University Press.
  • McDaniels, T., & Chase, R. (2008). Decisions and the Environment: The Role of Analytic and Experiential Processes. Journal of Environmental Management, 86(3), 676-684.
  • Vroom, V. H., & Yetton, P. W. (2012). Leadership and Decision-Mlication. University of Pittsburgh Press.
  • Kahneman, D. (2011). Thinking, Fast and Slow. Farrar, Straus and Giroux.
  • Framing Decisions: Essays on Risk and Rationality (2002). Edited by R. H. Thaler. Cambridge University Press.

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