Business Decision Making Essay

Step 1: Strategic Analysis. City Flowers should analysis external and internal environment and first. By collecting and reviewing of information about firm’s internal processes and resources and external marketplace factors, firm can understand the situation and position well. By using PESTLE to analysis external environment and SWOT to analysis internal environment are efficient.

As a business decision maker it is vital to evaluate your research resources. There are many resources available ranging from free resources to paid subscription resources, research libraries available in certain locations only, blogs, and business publications. Another alternative would be to research the company on its own website. While doing the research the researcher must be aware of the validity and unbiased research available. Free resources are a general starting point in research.

Based on your Week 3 collaborative learning team discussion, submit, individually, a 350- to 700-word summary of the work completed by your team.

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Allocation, this method uses larger region’s population or projections and percentage of population of a smaller area in the larger region to estimate smaller area’s population.

The best method would probably be a stratified sampling, in which we split the population into two groups

The sampling of the observed subjects was obtained through the sampling design of Quota Sampling. According to Polit and

Evaluate the entire selection process for the position. Judge whether mistakes were made and discuss what could have been done differently.

“In systematic sampling when population size N is a multiple of the sample size n, (N = nk), where k is the sampling interval, a unit is selected at random from the first k units and then every kth unit is selected to get a sample size” (Khan, Shabbir, & Gupta, 2013, p. 2659). A systematic sample frame for a healthcare management position will look like a list of all qualifying candidates (N) and every kth candidate is chosen for interviews from the

The population for this study is women who delivered and are breastfeeding. The reason I chose this sample is because I will be able to survey the sample to see if the mothers received education on the benefits of skin to skin contact during their prenatal classes. If they received information on skin to skin contact, they can answer questions on how that influenced them to breastfeed. A chart review would also be done to see if the mother did skin to skin then breastfeed. This group of women who did skin to skin and breastfeed would be classified as stratified random sampling because they are a subgroup of a population that delivered. Stratified Random Sampling is when a population is divided into subgroups or strata (Patton, 2014). According to Patton (2014), stratification is based on a variable that is relevant to the issue being studied.

To draw a simple random sample can be drawn using sampling frame in each organizations is assignment a unique identification number. Then, random numbers are generated to determine which organizations to include in the sample. If we want to choose 100 organizations, we just need select 100 from the sampling frame containing many organizations.

To conduct an effective market research survey, it is also critical to avoid sampling bias in selecting a population for

The rational decision-making model describes a series of steps that decision makers should consider if their goal is to maximize the quality of their outcome. In other words, if you want to make sure that you make the best choice, going through the formal steps of the rational decision-making model may make sense. The following are the steps taken to come to a rational decision: 1. Identify the problem, 2. Establish decision criteria, 3. Weigh decision criteria, 4. Generate alternatives, 5. Evaluate the alternative, 6. Choose the best alternative, 7. Implement the decision, 8. Evaluate the decision.

According to Hair et al. (2003), in the research, the sampling process enables identifying, developing and understanding an interested object that need to be determined (p.333). Hence, in order for the researcher to carry out the sampling appropriately, advantages and disadvantages of the various sampling methods should be considered along with the theoretical component of the study (Hair et al. 2003, p. 368 f). Theoretically, the sampling procedure is divided into two major types which consist of probability and nonprobability sampling. In probability sampling, individuals have a known chance of being selected. While, in non-probability sampling, individuals do not have a known possibility to be selected (Sekaran 2003, p. 269 f). Also, the different sampling methods provide different advantages and disadvantages. Hence, the researcher should consider this point before choosing the sampling method for the

Thinking critically and making decisions are important parts of today’s business environment. It is important to understand how the decision making process works and the steps involved. The nine steps of the decision making process are: identifying the problem, defining criteria, setting goals and objectives, evaluating the effect of the problem, identifying the causes of the problem, framing alternatives, evaluating impacts of the alternatives, making the decision, implementing the decision, and measuring the impacts. (Decision, 2007.) By using various methods and tools to assist in making important business decisions an individual can ensure the decisions they make will be as successful as possible. In this paper it