Decision-making in a business scenario

Summary: Students will be required to apply the business concepts that were covered in lectures (Weeks 1 to 4) to a business decison-making scenario. Additional

research will be necessary to complete the task. The (first) online modules ‘Critical Thinking for Business’ may also prove useful.

Task: Students will be required to apply business concepts, tools and decision-making traps (from Week’s 1 to 4) to a decision-making process. Students will choose one

decision-making scenario from three provided via Blackboard in Week 1. The decision-making scenario should be examined using the range of business concepts, tools and

decision-making traps from lectures as well as business concepts gleaned from additional research.

You are required to (a) start with the brief description of your chosen scenario, (b) describe the decision-making process in the scenario, using concepts and tools

introduced in lectures, as well as any other business concepts derived from additional research and (c) outline at least one decision making trap that may occur during

the decision-making process.

Assessment Criteria

> Apply business concepts and tools to a decision making scenario

> Use business concepts, tools and decision-making traps from lectures (Weeks 1 to 4)

> Undertake additional research in order to include further, relevant business concepts

> Demonstrate an ability to synthesise lecture material and to carry out additional research on a business situation

> Use an academic writing style **Reference sources by using the BSRG. Not doing so will incur a penalty.

Concepts, tools, traps covered in weeks 1 – 4:

·    SWOT, PESTLE, Porters 5 forces
·    DM tools
·    Individual biases
·    DM traps
·    Group decision-making

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