Decision Analysis in Organizational Success

Decision analysis is an effective way to imporve the process in the organisation, understand the intuition of the managers and develop effective decision after proper in-depth analysis. It is a structured approach, where the manager and the leaders of the conglomerates aim at maximising the organisational performnace and achieving the prespecified objective of the companies through develop effective decision (Greco, Figueira, and Ehrgott, 2016). Hereby, the decision analysis is helpful for the multinational corporations to conduct an in-depth analysis for acknowledging the internal organisational culture, financial performnace of the firm and resources and capabilities as well as external factors such as political, social, economic condition of the country, technological upgradation and legal legislations as well as environmental policies, so that the managers can develop a fruitful decision after in-depth analysis (Elbanna, and Elsharnouby, 2018). The decision analysis in this regard provides an opportunity to the managers to identify existing problems at the workplace as well as analyse the problem so that it is easy to make effective solutions. Through decision analysis, the managers and the leaders of the organisations aim to enhance the performnace of the firm as a whole and establish the business at the competitive market. In addition to these, the decision analysis is beneficial for evaluating the organisational decision and develop alternative solutions for enhancing the organisational performnace (Bryson, 2018). Through decision analysis, the managers can make alternative solutions, evaluate the decisions, select the best alternatives and implement the decision efficiently to maximise the organisational value.

Additionally, decision analysis is advantageous for the managers and leaders of the organisation to utilise the organisational resources in different operational activities, so that it is easy for the organisation to improve efficiency of performing in the market which in turn helps the companies to gain highly competitive advantage over other competitive firms operating in the market (Amir, and Auzair, 2017). Through decision analysis, the companies also can enhance the organisational capabilities and improve performnace of the employees through utilising the skill and abilities of the staff, improving communication and increasing cooperation in the workplace. The decision analysis plays a crucial role as employee’s motivation, where encouraging the employee’s creativity, making best solution which will be helpful for maximising the values of all the stakeholders engaged with the organisation. Hence, the decision analysis is also useful for satisfying the stakeholders of the business, where the managers choose the best decision after making alternative solutions and analyse it for selecting the best one (Cairns, Goodwin, and Wright, 2016). Achievement of the organisational gaols and objectives, maximising the performnace of the firm as a whole, improving efficiency, gaining high competitive advantage and market share across the international borders as well as motivating the employees, improving profitability, increasing sales volume of the firm and proper utilisation of the organisational resources and capabilities are the major values of decision analysis, where the companies can establish the business at the global market. Through decision analysis, the organisations also can facilitate innovation, increase efficiency, achieve objectives, resolving problems and changes and enhance business growth successfully.

Reference List

Amir, A.M. and Auzair, S.M., 2017. Re-Examining Organizational Life Cycles Criteria: An Analysis of Service Organisations in Growth and Maturity Stages. Jurnal Pengurusan (UKM Journal of Management), 50.

Bryson, J.M., 2018. Strategic planning for public and nonprofit organizations: A guide to strengthening and sustaining organizational achievement. New York: John Wiley & Sons.

Cairns, G., Goodwin, P. and Wright, G., 2016. A decision-analysis-based framework for analysing stakeholder behaviour in scenario planning. European Journal of Operational Research, 249(3), pp.1050-1062.

Elbanna, S. and Elsharnouby, T.H., 2018. Revisiting the relationship between formal planning process and planning effectiveness: Do organizational capabilities and decision-making style matter?. International Journal of Contemporary Hospitality Management, 30(2), pp.1016-1034.

Greco, S., Figueira, J. and Ehrgott, M., 2016. Multiple criteria decision analysis. New York: Springer.