Business

The use of evaluation tools in aid of decision-making is a major concern both in the academe and in the industry. Thus, there is an impetus for the analysis of different tools and the extent to which they are practicable and effective in specific situations. This paper describes evaluation tools encountered in a simulation and compares and contrasts the said tools with others that the author would have used given the situation. This comparison and contrast specifically includes a surface-level discussion of the principal similarities and differences among the different tools and a functional level discussion of what benefits could have been gained if the authors choice of tools were used in the simulation rather than what were actually used. This paper aims to broaden current knowledge on the levels of value and applicability of different evaluation tools when considering a possible decision-making circumstance. Towards this end, this paper hypothesizes that a holistic, critical approach which involves analysis of elements according to their significance to the problems at hand and consideration of all stakeholders affected by decision-making is effective in undertaking the given simulation.

What problem evaluation tools and techniques were encountered in the simulation and how do they differ from the tools and techniques that you would have used in this situation

The two main evaluation tools and techniques used in the simulation were importance weighing and brainstorming. Importance weighing and brainstorming were used during the decision making steps to identify the problem, causes of the problem, formulate the alternatives, and to then make a decision. These allowed the organization to branch out and establish what the problem are, and what may just be a symptom of these problems. Importance weighing looked at the different problems and possible symptoms and fallacies and organized them according to what needed to be taken care of the most, while brainstorming allowed for the discussion of the different necessary actions for these problems.

After using these techniques the focus of the electronics store was turned to reorienting the product mix, offering discounts, giving the employees a discretionary bonus, and challenging the legal notice to alter their entrances to the building. The organization believes these to be important issues that need to be taken care of so follow through and monitoring will begin immediately.

The tools and techniques utilized were effective, but there are others that could have also been utilized such as a flow chart. This would allow the organization to put their ideas and plans into a more visual step by step instruction sheet. This would also tie all of the problem and solutions together for a more comprehensive looking plan.

Describe the evaluation tools and techniques that you would have applied.

Making effective business decisions is an important part of maintaining a successful business structure. It is vital that an organization is able to pinpoint critical and non-critical matters that can affect the productivity of the business. Business leaders must determine the best evaluation tools and techniques that are appropriate for the obstacle at hand. To effectively address the sales dilemma, legal threats and competitive market trends of the organization, stakeholders must evaluate the situation to ensure the proper solution is applied. Problem-solving and decision-making are closely linked, and each requires creativity in identifying and developing options, for which the brainstorming technique is particularly useful (Chapman, 2009).

Once the problem is identified, it is important to define the criteria, goals and objectives.  This can be accomplished by evaluating the effects of the problem in relation to the decision to be made.  During the decision-making process, it is imperative that alternatives are explored and assessed for their potential impact. It is also beneficial to measure the impacts of the decision prior to implementing it. During the simulation, the primary objective was to improve the sales of the company. Several factors helped to determine the impact on the business map.  Before applying the solutions, the organization must keep in mind the effect on its employees, headquarters, available budget, and of course, sales. Solution elements such as recommending new pay plans, reorienting the product mix, challenging legal notices and hiking promotional expenditure were considered. Ultimately, the most fitting alternate approach must be selected to incorporate into the business plan to help restructure and reinforce company objectives. This helps the organization to produce the best results.  

How did these techniques assist with the evaluation of decision-making processes and outcomes

The problems addressed in the simulation were, decrease in sales, amount of products available, variable pay, competition, WAN and legal action. The tools and techniques used to solve the simulation were brainstorming and cause-and-effect techniques.

Brainstorming helped to first identify the problems with the store and then later used to figure what areas were urgent and critical. The new nearby store had more inventory and that increased sales. Employees did not feel motivated and resigned from this store to work in a store that was busier and had steady sales. Brainstorming allows the manger to decide the urgent and critical tasks that need to be addressed immediately.

In every aspect of business there is a cause to have and effect. The electronic store had an abundance of inventory that was not being used. Consumers would flock to our store and find none of the products or sales that they were looking to purchase. Therefore, consumers had no choice but to turn to competitors who indeed had a larger inventory with sales promotions running. Cause and effect had also allowed employees to quit and seek employment with the competition. By restructuring pay options, employees will feel motivated and willing to improve performance. According to Linda James, performance is directly related to how motivated employees feel.

Brainstorming and cause and effect helped identify the problems and apply the proper decision making techniques to solve some of the problems at the electronic store. Moving forward, management now knows the proper channels and actions that need to be addressed to think critically and solve the problems at the electronic store.

What was the outcome reached in the simulation and what changes in your decision making techniques would have generated better results

We could have more precisely identified the effects of our decisions in relation to employees, associates, and competition. Although it is enjoyable to open new stores, hire new employees, and expand the product inventory, finances and timing does not always allow for that. Finding the right balance of mixing business and marketing metrics, and proper outcomes for corporate and employee performance is a daily effort that extends beyond daily operations. Other daily operations include dealing with legal issues, and these pose another challenge that can affect decision making efforts and techniques.

To generate better results and efforts, we should have observed to a greater extent, the WAN and IT networks and support systems to quicken the sales processin addition, to streamlining and quickening the process, our inventory management decisions and turnover should have been re-organized and marketed to its full potential.

The choices to re-organize, generate better results and efforts, and improve sales and hardware operations would give a competitive advantage in the community and among the company itselfinternal and external competition drives innovation, and continued results that drive profit.

The different evaluation tools that were used in the simulation as well as the tools that the author would have applied were both explained clearly in detail. Based on comparing and contrasting the value of these different tools, it was found that applying the authors choice of evaluation tool would have produced more positive outcomes in the given situation. The authors selected tool would have been able to distinguish between critical and non-critical matters in the decision-making process and concentrate on the former to more accurately identify and appraise the effects of decisions to stakeholders.