...Problem Formulation and Identification Every day people take decisions of varying importance. Studies have shown that most people have poorer decision-making skills than they think. Understanding what the decision-making process involves will help them make logical decisions. The first step needed in order to achieve this goal is gaining an understanding the decision-making process. Decision-making allows the identification of as many alternatives as possible for choosing the one that has the highest probability of success based on the values and preferences of the decision maker. Very few decisions are taken with absolute certainty because complete knowledge regarding all possible alternatives is unrealistic; therefore, the decision-making process helps people to reduce the uncertainty about alternatives and select the most logical and reasonable one (Harris, 2008). The most common decision-making styles are democratic, autocratic, collective-participative, and consensus. In the democratic style a decision maker gives up his or her control of a decision to a group. Autocratic style occurs when a decision maker maintains the ownership and control of a decision. Collective-participative style occurs when a decision maker encourages ideas and thoughts from others to make the best decision possible. Consensus style occurs when a decision maker gives up the ownership and control and allows the group to make the decision (Development Center Inc., 1997). Most Favorable Aspects ...
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...Problem formulation and Identification Paper Decision making is one of the most important aspects of leadership in business management. it influences and impacts the success of the organization. Therefore, it is very essential for managers to make great decision rationally and logically. Depending on the situation, there are different decision making models and decision making styles, and their tools and techniques to help manager identifying the root causes and resolutions for the problem. However, in order to execute using these models, styles, tools, and techniques effectively and successfully, a process must be in place to guide us step by step in a discipline manner yet flexible and allow us to alter or adjust and come up with the high quality outcome. Without a process, we are likely to drag decisions into our comfort zone, handling different situation in exactly the same way, even though they have little in common. Without an organizational decision process, dynamic can easily become the predominate driver of our organizational culture and effectiveness. (Decision Quality, n.d.). Decision making process (DMP) is a strategic activity to organizational, economical and societal life. DMP is also a key component of time management skills. An effective decision making process leads to making high quality decision which is what organization expected from managers. (Bloomberg businessweek, n.d.). In my current organization, the rational decision making process is most...
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...Problem Formulation and Identification Problem Formulation and Identification Organizations make decisions every day, but how the solution comes about is most important. When making a decision, it should be sound, because it can affect day-to-day operations of business or even something major. Does the decision reflect solutions to problems? It can depend on the methods used to deal with the problem. This paper will discuss three styles, collective participative, logic, and persuasive and how using each one of them can assist with problem formation and identification. Once a good definition of what the problem is established, the process toward its eventual elimination can begin. (Krippendroff, n.d) Each organization is unique, but all have a common goal; to have a process in which problems are handled. Compare and contrast Logical style, collective participative style, and persuasive style are all commonly used methods in the decision making process. Logical style decision- making involves the use of facts and also logical reasoning. It involves a step by step process that thoroughly evaluates possible solutions to the problem, but in the end, the manager or whoever is in charge evaluates these possible solutions and chooses the one that he or she believes is the best solution to the problem at hand. Collective participative style involves all members of the organization during the decision making process. This style takes longer for a solution to be implemented...
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...Running Header: PROBLEM FORMULATION AND IDENTIFICATION Problem Formulation and Identification Team D December 2009 Problem Formulation and Identification When trying to reach a decision on how to handle a problem, one must know how to identify and formulate what the problem is and how it came to be. With many ways to conduct a decision-making process in a business environment, one needs to learn which style will remove the problem by weighing the pros and cons, the strengths, and weaknesses of the method used. The following is a journey on the seven different decision-making methods: scientific, persuasive, logical, rational, intuitive, recognition primed decision-making and the ultimate decision-making model to see how each method affects the stakeholders. Compare and Contrast Problem Identification Identifying a problem is not a one step process. Identifying a problem involves recognition of something faulting and reason for the problem. Every organization has its own method of identifying and solving problems, some of these methods are known as: scientific method, persuasive method, and logical method. “Scientific is a type of inductive thinking that moves through four major steps: observation, hypothesis formulation, experimentation, and verification” (Kirby & Goodpaster, 2007). Persuasive thinking comes into the situation once a problem occurs. A business, in which persuasive thinking becomes a benefit, would be in the retail...
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...RUNNING HEAD: DECISION-MAKING January 11, 2009 Problem Formulation and Identification Every organization uses its own decision-making style. Some organizations prefer to use a rational style, which centers on facts and figures, and logical and scientific approaches to their problems. Other companies use an intuitive style, which focuses on emotional aspects of problems and gut feelings. Recently, a group of business students observed how decisions are typically made at their own places of employment. Kori at Prescription Solutions, Jacob at Combined Arms Training Center, Isela at Housing Authority of the City of El Paso, and Micah at Brown-Forman where each examined the strategy most often employed at their organizations. It was found that while each has its own particular style, there were many similarities. These working students also found that each style uses its own set of strengths and weaknesses, and explored how a problem can be described to stakeholders in a manner that is sensitive to their perspectives with various style approaches. Rational Decision-Making Rational decision-making is “a deliberate and logical approach” (Robbins, 2004, p. 21). When faced with a decision, a rational thinker will “emphasize facts, details, and rational cause-effect logic” (Robbins, 2004, p. 21). When a decision must be made, Prescription Solutions’ upper management executives consider three logical business factors: customer satisfaction...
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...Problem Formulation Identification Paper Critical thinking is a process that many companies use to operate and run their businesses in a productive and orderly fashion. These decisions should be based largely on the productivity of the growth of the company, and the services that the company performs and offers to the external and internal customers of that business. In this paper the authors will be observing the present decision making processes and discuss the strengths and weaknesses, and the most favorable aspect to describe a process by which the stakeholders can identify in a manner that is sensitive to their perspectives companies. The authors will then do a comparison and contrast of those decision to formulate any particular styles that these businesses may share and if indeed any similar problems or patterns in his or her workplace organizations that may have occurred because of the decisions that have been made. Let s take at look at Valerie’s company which is Acts Retirement Life, Inc. within Acts Retirement Life Inc. the decision making process that is prevalent is Customer Service, set by the CEO of the corporation then filtered down to the different managers and department heads of Acts, Inc. The decision that is created by Acts Inc is that all residents be treated with honor, dignity, and respect, and that no resident should be discriminated for any reason, at any time all, or in any fashion. These decisions that have been made do not only...
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...Problem Formulation and Identification Although problems are typically easy to spot, the formulation and identification of the problem, its effect on the organization, and potential resolutions are more complicated. It is important to understand that any problem presented may not be the actual problem that needs to be addressed. Often an identified problem is merely a symptom of a greater problem that requires a decision. However, the examination of smaller problems or symptoms can largely assist in determining the overarching issues that needs attention. The earliest example of a technique my organization is using is producing Pareto Charts. Pareto Analysis Pareto is a tool or technique that displays information identifying the causes or instances which fall outside of established performance standards. This is typically illustrated in a simple bar chart that provides an easy to read format showing the causes of failures and the number of times the failure was identified. This is organized by the greatest number of instances to the least thus establishing a priority for those problems that will have the greatest opportunity for improvements. The organization measures its performance over a period of time to identify a running monthly performance. This allows the opportunity to more efficiently focus a Pareto analysis where results are going to be more effective. The Problem The supply and logistics business primarily consists of electronic transactions in automated...
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...Running Head: Problem Formulation and Identification Paper Introduction Defining the process of problems occur within the management of each company. Recognizing how the objective will frame the problem and provide process to work through the solution. Companies have metrics to measure forces of influences, and quantitative data determine the scope of the problem and how to resolve issues. Most companies use solving skill methods to address managerial decision, identifying the issue and formulating steps to brainstorm all phases of the solution (Paul & Elder, 2006). Problem Formulation and Identification Marilyn Brandy Everyone knows that within this fast pace world an organization is going to always have problems that have to be determined, there are many of unlike kinds of determination creating procedures that a business could employ to help determine these issues. This document will explore most of the unlike kinds of determination creating procedures with demonstrations from not one, but four businesses. Many of the unlike companies and their determination creating procedures change extraordinarily. The Stanford facility payroll and the organization boss in a wholesale organization appear to withdraw aspects in a resembling way because the most important consideration has to be drafted, revised, worked on, determined, and completed before it could be finalized. The YMCA determination creating procedure also resembles in that the issue could...
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...Problems Formulation and Identification Problem identification and formulation is the most critical element of the decision-making process. Problems defined as perceived gaps between an existing state and the desired state, a deviation from the norm, status quo or set standard; difficulties arise when the solution to mend the deviation is not clear. Problem Formulation Widely known, is a well formulated problem is a problem nearly solved. Breaking up a complex and unclear situation into a set of individual, well-defined problems is vital to finding solutions, (Problem Formulation, 2005). An activity aimed at identifying a problem by specifying the undesirable and problematic state currently occupied the resources currently available to move away from the problematic state, particularly the available courses of actions, and the criteria that need to be satisfied to say that a problem no longer exists, (Kirby G. & Goodpaster J. 2007). The solutions to problems may encompass many styles of decision-making, collaborative, consultative, and autocratic. Decision-Making Model One organization in this scenario is an owner-operated small business, the Razorback Lodge. A family-owned business where sometimes used is a collaborative decision-making model, but most times, used is a consultative model. The problem defined, formulated, and the model of decision-making decided. Another of the companies considered is a large glass manufacturer using a team setting for...
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...your current employer is the organization represented by Alex, Nik, and Chris. You will also use the mission of your current organization to assist you in decision making in discussing this business scenario. There are three phases to this assignment which will be cumulative, meaning that each part will build upon the next. You will use this paper and feedback from your instructor as input to improve your Week Four and Week Five assignments. The three deliverables for this project are: Week Three: Decisions in Paradise Paper, Part I Week Four: Decisions in Paradise Paper, Part II Week Five: Decisions in Paradise Paper, Part III Learning Team Instructions Individual Decisions in Paradise, Part I Begin working on your Problem Formulation and Identification Presentation due in Week Four. Beginning in Week Three and for the remainder of the course, you will be working with the Decisions in Paradise Business Scenario where you...
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...situation analysis, strategy formulation, strategy implementation, and strategy evaluation. These elements are steps that are performed, in order, when developing a new strategic management plan. Situation Analysis The situation analysis provides the information necessary to create a company mission statement. Situation analysis involves "scanning and evaluating the organizational context, the external environment, and the organizational environment" (Coulter, 2005). This analysis can be performed using several techniques. Observation and communication are two very effective methods. To begin this process, organizations should observe the internal company environment. This includes employee interaction with other employees, employee interaction with management, manager interaction with other managers, and management interaction with shareholders. In addition, discussions, interviews, and surveys can be used to analyse the internal environment. Organizations also need to analyse the external environment. This would include customers, suppliers, creditors, and competitors. Several questions can be asked which may help analyse the external environment. It examines the company’s relationship with its customers and its suppliers. It also seeks to find out if the company have a good rapport with its creditors, if it’s actively trying to increase the value of the business for its shareholders and who the competition is. Strategy Formulation Strategy formulation involves designing and...
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...INTRODUCTION It is useful to consider strategy formulation as part of a strategic management process that comprises three phases: diagnosis, formulation, and implementation. Strategic management is an ongoing process to develop and revise future-oriented strategies that allow an organization to achieve its objectives, considering its capabilities, constraints, and the environment in which it operates. Diagnosis includes: (a) performing a situation analysis (analysis of the internal environment of the organization), including identification and evaluation of current mission, strategic objectives, strategies, and results, plus major strengths and weaknesses; (b) analyzing the organization's external environment, including major opportunities and threats; and (c) identifying the major critical issues, which are a small set, typically two to five, of major problems, threats, weaknesses, and/or opportunities that require particularly high priority attention by management. Formulation, the second phase in the strategic management process, produces a clear set of recommendations, with supporting justification, that revise as necessary the mission and objectives of the organization, and supply the strategies for accomplishing them. In formulation, we are trying to modify the current objectives and strategies in ways to make the organization more successful. This includes trying to create "sustainable" competitive advantages -- although most competitive advantages are eroded...
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...Decision Making MGT 350 Problem Formulation and Identification Problem formulation and identification is an important part of any organization due to the limitless amount of problems that can transpire. By having a proper plan of action to help identify problems, an organization can quickly implement the needed procedures to alleviate it whether it is personnel or resources. The organization I represent, Shannon Missionary Baptist Church, is linked to another other organization that can have problems to arise at any given time and problem formulation and identification methods are as crucial in church as with any other organization. We have formulated a method of problem identification internally and try and use our handbook, the Bible, to the letter. Our handbook offers unswerving directions on how every member of the organization is to carry out his or her services, the organizations purpose and goals, the rules and regulations, and also the behavior of the organization and its members. When any member of the organization notices a problem or issue, it is his or her responsibility to report that problem to other members so that a meeting can be held to handle it swiftly. Our organization handles all problems openly, with all its members, allowing each individual to express their concerns about the problem and then a vote is made. The decision of what action to take to deal with the problem is decided by the majority vote. Compare and Contrast of Decision Making ...
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...Table of Contents 1.0 Introduction 2.0 Strategic Analysis 2.1 The Strategic Management Process 2.2 Stages of the Strategic Management Process and Contribution to Strategic Management Process 2.3 Definition of Strategic Analysis and Component 2.4 Techniques for Analyzing the External Environment 2.5 Techniques for Analyzing the Internal Environment 2.6 Roles of SWOT Analysis in Strategic Analysis 3.0 Strategy Formulation, Evaluation and Choice 3.1 Strategy Formulation stage and Contribution to Three-stage Strategic Management Process 3.2 Key Differences between Business Strategy and Corporate Strategy 3.3 Implications of Differences for Strategy Formulation 3.4 Key Differences between the Market Positioning and Resource-Based Strategy 3.5 Strengths and Weaknesses of Porter’s Generic Strategies 3.6 Resource-Based Approach Implications for Business strategy 3.7 Industry Lifecycle and Market Turbulence Implications for Business Strategy 3.8 Corporate Level Strategy Decisions 3.9 Relevant Growth Strategies to Qatar Airways 3.10 Advantages and Disadvantages of Related and Unrelated Diversification 3.11 Important Strategies to Qatar Airways 3.12 Portfolio Analysis 3.13 Aspects of International Strategy that are Relevant to Qatar Airways 3.14 International Strategies that are Appropriate 3.15 Market Penetration Strategies that are Appropriate 3.16 Evaluation Technique of Best Strategy to Adopt 4.0 Strategy...
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...The Nature of Strategy Implementation Successful strategy formulation does not guarantee successful startegy implementation. It is always more difficult to do something (strategy implementation) than to say you are going to do it (strategy formulation). Although inextricably linked, startegy implementation is fundamentally different from strategy fromulation. Strategy formulation and implementation can be contrasted in the following ways: * Strategy formulation is positioning forces before the action. * Strategy implementation is managing forces during the action. * Strategy formulation focuses on effectiveness. * Strategy implementation focuses in efficiency. * Strategy formulation is primarily an intellectual process. * Strategy implementation is primarily an operational process. * Strategy formulation requires good intuitive and analytical skills. * Strategy implementation requires special motivation and leadeship skills. * Strategy formulation requires coordination among a few individuals. * Strategy implementation requires coordination among many individuals. Management perspectives Implementation problems can arise because of the shift in responsibility, especially if SF decisions come as a surprise to middle- and lower-level managers. Therefore, it is essential to involve divisional and functional managers in strategy-formulation activities. Management Issues Central to Strategy Implementation * Establish annual objectives ...
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