- April 5, 2012
- Posted by: essay
- Category: Sample essay papers
1. 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 thinking simulation places the participant in a challenging situation where managerial decisions have to be made similar to those challenges taking place in real life. In the simulation, the framework for decision-making was used which consisted of three major steps: framing the problem, making the decision and evaluating the decision.
The framing set of actions (identifying the problem, determining the criteria, goals and objectives, and evaluating effect of the problem) was similar to the ones I would have chosen for problem solving. However, steps of making decision included such important issues as framing the alternatives and evaluating their impact. These are the actions which I might miss myself. Also, the approach to measuring impacts was useful: instead of selecting one metric for one solution, there were various metrics compared and the one best suitable for measuring the impact of the decision was selected. I would rather choose only one suitable metric, so it has been a valuable decision-making experience.
2. Describe the evaluation tools and techniques that you would have applied.
There are several tools for decision-making that would be useful in addition to the framework considered in the thinking simulation. In my opinion, Venn diagrams might be a useful method to identifying problems and distinguishing between critical/non-critical as well as urgent/non-urgent problems. Also, among the decision list, SWOT analysis of the competitors would be very appropriate, as it’ll allow building an efficient marketing strategy.
3. How did these techniques assist with the evaluation of decision-making processes and outcomes?
As for the techniques in the framework, the development of alternative metrics was highly important to improve the whole decision-making process. Concerning additionally suggested techniques, Venn’s diagrams would visualize the process of identifying and classifying problems and make it more efficient. As for SWOT analysis, this new solution might make a significant contribution into final set of solutions, and would also require a set of metrics for evaluating its effect; thus, the whole framework would be reshaped as a result.
4. What was the outcome reached in the simulation and what changes in your decision-making techniques would have generated better results?
The outcome of the simulation was to try to participate in a real-time management decision-making process, make use of decision-making framework and critically assess own abilities for making decisions. In my case, the result would be better if I could better associate the metrics with the chosen solutions, and explore the background of each solution. Also, the use of SWOT analysis of competitors would generate better results if included into the set of solutions.