College of Administrative and Financial Sciences Assignment 3 Decision Making & Problem

College of Administrative and Financial Sciences

Assignment 3

Decision Making & Problem Solving (MGT312)

Deadline for students: End of Week 13 (4/12/2021@ 23:59)

Course Name:

Student’s Name:

Course Code: MGT312

Student’s ID Number:

Semester: 1st

CRN:

Academic Year: 1442/1443 H, First Semester

For Instructor’s Use only

Instructor’s Name:

Students’ Grade:

Level of Marks:

Instructions – PLEASE READ THEM CAREFULLY

This assignment is an individual assignment.

Due date for Assignment 3 is by the end of Week 13 (4/12/2021).

The Assignment must be submitted only in WORD format via allocated folder.

Assignments submitted through email will not be accepted.

Students are advised to make their work clear and well presented. This also includes filling your information on the cover page.

Students must mention question number clearly in their answer.

Late submitted assignments will NOT be entertained.

Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.

All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).

Submissions without this cover page will NOT be accepted.

Course Learning Outcomes-Covered

Define different perspectives and concepts of problem solving in diverse contexts and business situations. (C.L.O :2)

Demonstrate decision tools and employ appropriate analytical business models to break down complex issues. (C.L.O :4)

Demonstrate effective leadership skills and teamwork capacity for efficient decision making with the problem owners and other stakeholders as either a team member or a team leader. (C.L.O :5)

Assignment Instructions:

Log in to Saudi Digital Library (SDL) via University’s website

On first page of SDL, choose “English Databases”

From the list find and click on EBSCO database.

In the search bar of EBSCO find the following article:

Title: “How to Make Better Decisions with Less Data”

Author: Tanya Menon and Leigh Thompson

Date of Publication: November 07, 2016

Published: Harvard Business Review

Assignment Questions: (Marks 05)

Read the attached article titled as “How to Make Better Decisions with Less Data” by Tanya Menon and Leigh Thompson, published in Harvard Business Review, and answer the following Questions:

Summarize the article and explain the main issues discussed in the article. (In 500-600 words) (Marks 2)

Discuss in relations to what you have learnt in the course about the four steps of intentional thought to help convert data into knowledge and wisdom? Use additional reference to support your argument. (In 200-400 words) (Marks 1.5)

Critical Thinking Question

If you collect too much information for analyzing a decision, you can suffer from analysis paralysis, where you spend too much time thinking about a decision rather than making one. Recall a major financial decision you made recently, such as of a car or housing purchase or rental. Describe your process for making the decision. How could analysis paralysis have affected this process? (In 200-400 words) (Marks 1.5)