Decision Making Problem Solving

Decision Making Problem Solving

Assignment Regulations:
• This assignment is an individual assignment.
• All students are encouraged to use their own word.
• Student must apply Harvard Referencing Style within their reports.
• Student is allowed to cite 10% from the word limit
• A mark of zero will be given for any submission that includes copying from other resource without referencing it
Learning Outcome:
• Explain critical thinking and cognitive psychology as it pertains to analyze and synthesize information for problem solving and decision making. (2.7)
• Employ and analyze aspects of creativity as they pertain to problem solving and decision making in all manners and circumstances. (2.3)
• Develop numerical skills required for quantitative decisions in complex situations. (4.1)
• Create a Decision Making and Problem Solving worksheet document. (4.5)
ASSIGNMENT -III

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: “Process That Prevents Groupthink”
Authored: Art Markman,
Date of Publication: November 25, 2015
Published: Harvard Business Review
https://hbr.org/2015/11/the-problem-solving-process-that-prevents-groupthink

1. Read the attached article titled as “Process That Prevents Groupthink” by Art Markman, published in Harvard Business Review, and answer the following Questions: [3 Marks] a. Summarize the article and explain the main issues discussed in the article. (In 400-600 words)
b. Why groups working together diverge less than individuals working alone.

2. Analyze the spreadsheet shown in figure below which summarizes monthly sales of shoes for Florina, including leather shoes, sport shoes and personalized sport shoes. [2 Marks] a. You have to identify the decision, constants, and output variables in the spreadsheet based on the information given in figure? Indicate how much money Florina can make per month from the sales of shoes?
b. Give your views on which type of shoe they should promote the most aggressively to increase the revenue of the company on the basis of information given in figure?

A B C D
1 Florina
2 Shoe Type Price
(in SAR) Unit to Sell Subtotal
(in SAR)
3 Leather Shoes 200 1200 240000
4 Sports Shoes 350 1800 630000
5 Personalized Sports shoes 400 800 320000
6 Total Revenue 1190000