MGMT1020 Management Decision Making Assignment Sample Canada

MGMT1020 Management Decision Making course is designed to develop students’ ability to analyze business problems and make sound decisions using management tools and techniques.

Students will learn how to identify and define business problems, collect and analyze data, develop alternative solutions, select the best solution, and implement the chosen solution. The course also emphasizes the importance of ethical considerations in decision-making.

In addition, students will have the opportunity to practice their decision-making skills through group activities and case studies. At the end of the course, students should have a good understanding of the decision-making process and be able to apply it to real-world business problems.

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In this section, we describe some assigned tasks. These are:

Assignment Task 1: Perform a Strategic Analysis of a firm by assessing associations, among the firm’s resources and competencies and its external environment, with its strategy.

A strategic analysis is a process of assessing a company’s business model and competitive environment in order to formulate a strategy that will allow the company to remain competitive and profitable.

In order to perform strategic analysis, you will need to gather information about the company’s resources and competencies, as well as its external environment. This information can be gathered through research, interviews, and observation.

Once you have gathered all of the necessary information, you will need to analyze it in order to identify any trends or patterns. After you have identified these trends or patterns, you will need to formulate a strategy that will allow the company to capitalize on its strengths and mitigate its weaknesses.

The following are some tips for performing a strategic analysis:

1. Make sure you have a clear understanding of the company’s business model. What does the company do? How does it make money?
2. Research the company’s competitive environment. Who are its competitors? What are their strengths and weaknesses?
3. Identify the company’s resources and competencies. What does the company do well? What does it need to improve upon?
4. Analyze the information you have gathered. What trends or patterns do you see?
5. Formulate a strategy that will allow the company to capitalize on its strengths and mitigate its weaknesses. Be sure to consider the company’s competitive environment when formulating your strategy.
6. Implement your strategy and track the results. Make adjustments to your strategy as needed.

These are just a few tips for performing a strategic analysis. The most important thing to remember is that you need to be thorough in your research and analysis in order to formulate an effective strategy.

Assignment Task 2: Appraise a company’s competitiveness in its business environment through the use of analytical tools.

There are many ways to appraise a company’s competitiveness in its business environment. One way is to use analytical tools such as SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis.

• SWOT analysis is a tool that is used to assess a company’s strengths, weaknesses, opportunities, and threats. This information can be used to formulate a competitive strategy.
• PESTEL analysis is a tool that is used to assess the political, economic, social, technological, environmental, and legal factors that can impact a company’s business. This information can be used to identify opportunities and threats.
• Porter’s Five Forces analysis is a tool that is used to assess the competitive forces that are at play in the industry. This information can be used to formulate a competitive strategy.

Other ways to appraise a company’s competitiveness include benchmarking, customer analysis, and supplier analysis.

• Benchmarking is the process of comparing a company’s performance against that of its competitors.
• Customer analysis is a process of assessing a company’s customer base.
• Supplier analysis is a process of assessing a company’s supplier relationships.

These are just a few of the many ways to appraise a company’s competitiveness in its business environment. By using analytical tools, you will be able to understand the competitive landscape and develop a strategy that will help the company to improve its competitiveness.

Assignment Task 3: Evaluate the effectiveness of a firm’s strategy through financial analysis.

Financial analysis is a process of assessing a company’s financial statements in order to understand its financial health. This information can be used to evaluate the effectiveness of a company’s strategy.

There are many ways to perform financial analysis. One way is to use ratio analysis. This involves calculating ratios such as the debt-to-equity ratio, the interest coverage ratio, and the operating cash flow ratio. These ratios can be used to assess a company’s financial health and to evaluate the effectiveness of its strategy.

Another way to perform the financial analysis is to use trend analysis. This involves looking at trends in a company’s financial statements over time. This information can be used to identify whether a company’s strategy is effective or not.

Assignment Task 4: Defend a proposed strategic direction, on the basis of strategic analysis, creating a desired “Go Forward” plan for a firm.

Based on the findings of your strategic analysis, you should have a clear idea of what direction the company should take. You will need to develop a “go forward” plan that outlines how the company can achieve its desired results.

This plan should be based on the company’s strengths and weaknesses, as well as the opportunities and threats that it faces. The plan should also take into account the resources and capabilities that the company has.

Once you have developed the plan, you will need to defend it to the company’s management. You will need to convince them that this is the best course of action for the company.

If you are able to do this, then you will have successfully defended a proposed strategic direction.

Assignment Task 5: Create an implementation strategy, for a strategic “Go Forward” plan, through change management.

Once you have developed a “go forward” plan, you will need to create an implementation strategy. This strategy should outline how the company can implement the plan and achieve its desired results.

The implementation strategy should take into account the resources and capabilities that the company has. It should also take into account the risks and challenges that the company faces.

The strategy should be designed to minimize the risks and maximize the chances of success. Change management will be an important part of this process.

You will need to convince the company’s management that the implementation strategy is the best course of action. If you are able to do this, then you will have successfully created an implementation strategy.

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