MGT/350 Problem Analysis Part IV: Implementing and Evaluating

3605 words - 14 pages ✓ Expert Reviewed
VIEW DOCUMENT
Preview

The problem analysis project clarified the advantage of team decision-making. A team is strengthened by having a balance of powers within its structure. For example, powers of influence help decision-makers market a decision solution in order to make changes. The power of expertise is instrumental in critiquing a solution and its relevance to a problem. Team D found the power of expertise to be critical when the solution selection and analysis of the decision was conducted. Confusion in completing the project resulted from the lack of clarity regarding relevant criteria rather than from a lack of understanding the decision-making process. Nevertheless, team efforts enabled decision-making and allowed the team to analyze the success of their plan to correct the credit account process for the case-study organization.Team D identified that the case-study organization was experiencing a problem with accounts receivable credit processing. The credit accounts were not being processed timely in order to reflect an accurate picture of the accounts receivable status on month-end financials. Symptoms of the problem included inaccurate financial statements and an employee retention issue. The organization also experienced a cash flow problem resulting from high-dollar credit accounts, which were satisfied in one month rather than being expensed over several months. The team's tasks included defining goals and objectives, evaluating problem impacts, identifying problem causes, analyzing solution alternatives, choosing an optimal solution, and developing an implementation and evaluation plan.Framing the ProblemDefining organizational goals, objectives, and choosing the tools or techniques that would be used to frame the problem were part of the decision-making process. The case study revealed accurate financial statements, time management skills, efficient accounts receivable processes, and timely refund processing as the organization's goals. In order to meet the goals, specific objectives were identified: (a) a reporting responsibility to stakeholders, (b) a timely reimbursement to patients, and (c) a healthy work environment for employees. The main value of the organization was determined as responsibility to stakeholders.Learning Team D used the brainstorming technique to frame the problem in the case study analysis. De Janasz, Dowd, and Schneider (2002) say, "Brainstorming is a tool used to stimulate and capture creative thoughts and ideas. It involves the creative generation of many ideas to solve a problem" (chap. 19, p. 4). Each team member presented thoughts and ideas by posting them in the learning team newsgroup, allowing ideas to flow easily and without constraints. Once ideas were communicated, team members asked questions and clarified...

Find Another Essay On MGT/350 Problem Analysis Part IV: Implementing and Evaluating

MGT 350: Tools And Techniques For Decision Analysis

1109 words - 4 pages modeling the problem, choosing the best alternative, performing a sensitivity analysis, and implementing the chosen alternative. Once the decision maker has completed the sensitivity analysis, he or she must determine whether further analysis is needed. If it is, then steps one through three may be repeated before moving to the final step: implementing the chosen alternative.The first step to making a successful decision is identifying the...

Decision-Making Model Analysis Paper MGT 350

1240 words - 5 pages find one alternative that would completely resolve the problem and is heads and shoulders better than all others. When evaluating the positive and negative outcome(s), the decision maker must be careful to differentiate between fact and fiction.This distinction between fact-based evaluation and non-fact -based evaluation is included to assist the decision maker in developing a "confidence score" for each alternative. The decision maker...

MGT 350 Tools And Techniques Paper

764 words - 3 pages the planning process (b) writing down the plan and communicating it widely (c) building in accountability (d) evaluating planning process (e) providing ongoing analysis of planning process (f) giving acknowledgement of completion and celebrating results.Sir Speedy uses this general plan when deciding to purchase equipment. We reference the purpose of the new equipment. Take stock...

An Analysis Of Bateman And Snell Decision-Making Model: MGT 350 Decision Making Model Research Paper

909 words - 4 pages regarding a second vehicle. Throughout this paper an analysis of Bateman and Snell,'s six-step decision-making model will be explained and related to a recent problem my family had to face. I will attempt to explain how we followed each step and where we ran into additional problems. In the end everything will show how proper use of any decision-making model can help benefit you in your decision-making. I will also reference a few other decision-making...

MGT 350 Critical Thinking And Decision Making: Decision Creating Model

1439 words - 6 pages Decision-Making ModelUniversity of PhoenixMGT 350: Critical Thinking: Strategies in Decision MakingJuly 22, 2004Decision-Making ModelAfter doing some research on the Internet and reading some articles, I found the...

Decision-Making Tool: Brainstorming: MGT 350 Tools And Methods Paper

1236 words - 5 pages your decision making tool. The first part is defining brainstorming. This is where a couple different definitions will be explained and hopefully simplified into a new definition that is easily understood by all. Then it leads into the application and example of application of brainstorming. Brainstorming can be used in many aspects of an organization, my example is from personal experience. Followed by when and when not brainstorming should be used...

Case Study: Faith Community Hospital: MGT 350 Case Study Analysis Paper (Instructors Markings Included)

1974 words - 8 pages >Board of Directors and the executives have developed a new mission statement, then the executives can print new business cards and brochures for Faith Community Hospital. [Insightful analysis] [This paragraph is too long: Remember that a paragraph is a series of sentences that relate to a particular point that you want to make. They usually consist of four or five sentences "bunched" together around one idea.]The second problem...

Critical Thinking And Business. Decisions Critical Thinking Styles And Forces Of Influence By MGT 350

1000 words - 4 pages Critical Thinking Styles and Forces of Influence by MGT 350 Our basic concept of critical thinking is, at root, simple. We could define it as the art of taking charge of your own mind. Its value is also at root simple: "if we can take charge of our own minds, we can take charge of our lives; we can improve them, bringing them under our "self-command" and...

Analysis Of Self-Sacrifice In Part One, Chapter III – IV

1130 words - 5 pages Crime and Punishment, written by Fyodor Dostoyevsky, establishes his motifs through the use of. This novel reinstates the motif of self-sacrifice into different characters that interact with the main character, Raskolnikov. Although the largest case of self-sacrifice lies in the character of Sonya which is not thoroughly discussed in Chapter III and IV of Part One, pages 35 to 64 contributes the largest variety of self-sacrifice that is found...

Part Analysis Of Regional Integration MGT 448 Global Business Strategies

1240 words - 5 pages Role Analysis of Regional IntegrationWikipedia, an internet encyclopedia source, defines globalization as "a social change, an increased connectivity among societies due to transculturation; the explosive evolution of transport and communication technologies to facilitate international cultural and economic exchange (Wikipedia, 2004)." In other words, globalization pertains to the connectivity that allows people and businesses around...

Fallacy Summary And Application MGT 350 - Critical Thinking: Strategies In Decision-Making July 16, 2005

1358 words - 5 pages fallacies, explain their significance to critical thinking, discuss the general application to decision-making, and provide examples that illustrate each fallacy. Further analysis of fallacies indicates several characteristics common in all fallacies. Most typical are logical fallacies. Logical fallacies are errors in interpretation. They can be categorized into relevant fallacies, where the premises are not relevant to the conclusion...

Other MGT/350 Problem Analysis Part IV: Implementing and Evaluating Essays

MGT 350: Problem Research Essay

1393 words - 6 pages PART II: PROBLEM ANALYSISLengthy hours and infrequent vacations can oftentimes contribute to increased stress levels in employees. The increase in stress not only affects the employee, but also their family. Overworked employees suffer from the stress of working too many hours and a lack of quality family time which, in turn, decreases ...

MGT 350 Problem Research Paper

942 words - 4 pages Problem AnalysisThe problem is finding resolution to an unfavorable employee performance review. We will review the goals and objectives used to frame the problem, as well as how the effects of this problem influence the company. We will also examine the forces of influence, and different ways to establish a favorable outcome.It was November of...

Mgt/350 Decisions In Paradise Part 2

1039 words - 4 pages Decisions in Paradise II � PAGE \* MERGEFORMAT �1� Running Head: DECISIONS IN PARADISE IIDecisions in Paradise, Part IIUniversity of PhoenixMGT 350: Critical ThinkingSeptember 29, 2008�Decisions in...

Mgt/350 Decisions In Paradise Part 3

1186 words - 5 pages Decisions in Paradise III � PAGE \* MERGEFORMAT �1� Running Head: DECISIONS IN PARADISE IIIDecisions in Paradise, Part IIIUniversity of PhoenixMGT 350: Critical ThinkingOctober 6, 2008�Decisions in Paradise IIIThe island of Kava is faced with many problems, including location, stakeholders, and economic structure. ...