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March 13, 2016
RDM group working reflective
What do I learn from the group working?
My group took four days of working on the presentation, it was the good learning experience especially on the decision making. Although, from my angle, in some points were not robust decision judging, I had learned to negotiate, brainstorm and critical analyzed through the case study.
The first day of group meeting, we have made a clear understanding of the objectives of this given case but we faced many unclear issues. We first assumed based on our own understanding for example, the date of possible staring production. Then, as the group we had consensus to go back and ask our module leader, Jeff. From this point, I am truly appreciated that we had ask to get the clear instruction. In the real life when we face the unclear situation and it is possible to ask. Then we are better to do so rather than just doubt and keep doing without the clear direction.
The second day, we had constructed the outline presentation and analyzed the techniques and tools that we could use. We had produced as many ideas as possible. All ideas are carefully listened since we are all come from different backgrounds. Besides, we had a deep discussion about the tools, for example SMART and decision tree. I found both techniques are powerful, particularly when we have various alternatives on hand. In SMART, I recognize the importance of interrelationship between the value and the cost. Furthermore, this tools also guided us to see the sensitivity which can confirm the level of our robust decision making. However, the challenge which I found was the consideration of criteria. For myself, in the future if I apply these tools I would more carefully about the chosen criteria as well as the weight graded.
The third day was finalized the presentation, we decided to apply tools as listed: Rich pictures, decision tree, AHP, SWOT, and PESTEL. Cleary, since we had been discussing all these tools and techniques I understand more and not be afraid if I have to use it again. Nevertheless, through this process it was not the challenge to use the tools but it was about the founded information and critical analyzed. We were not sure to what extent we should rely on the information, so the group consensus was very helpful to summarize the task and made it done. In brief, I have learned to evaluate the tools as well as the founded information.
The final day, we were going through the whole presentation together with the aim to analyzed and double checked the result once again. As the group working I have found that we gain more board perspective and made healthier judgment rather than individual. Nevertheless, we diagnose the group pitfalls were the limitation of risk taking and the minority of in depth information. To improve this areas, personally, I prefer to spend more time finding and justifying information.
All in all, the group assignment is obvious advantages since it is allowed us to practice the robust decision making through the simulation of real life situation.
March 05, 2016
Robust decisionmaking– imodule week
Robust Decision Making- In module week.
The first day of RDM, normally when we first have module class, it begins by explanation of objectives but this module started with a briefly of details following by the individual test. Personally, this is suitable for this kind of subject because the test result shows how poor of decision making we made. Therefore, we recognize the importance of this module since it is not purely business or academic study but it is also useful for our daily life. Then we have introduced to how our brain work through the system one and two. It is easy for me to understand that human’s nature is easily falling into biases, for instance, anchoring bias and framing bias. Consequently, I am now being aware of biases and also much more interest to the bias avoidance strategy. I, therefore, will practice theses presented strategies into my routine practice to improve my judgement.
The second day, RDM introduced us about the tools and methods that would help us to make more robust decision making. Although it is briefly since the time constraint and the designed module, in my opinion it is enough for guiding us to go further explore. Turning to the detail, the first section was the decision making basics which allow me to understand about the type of decision making, assumption of simple decision theory, organizational making and so on. This section provided me the big picture of the decision making process in organization. Hence, I could imply into the real situation in the future. Subsequently, the methodologies which would help us to make the decision for example, grid analysis, trade off, cost benefit analysis, risk analysis, AHP, SSM and the rest have been taught. My understanding is all tools and techniques have various benefits and limitations, it is our accountable to consider and apply which one is more suitable to adopt in the various situations. The last section, seminar, the brought examples showed us in reallity practice. This section encourages me to go further exploring the exists practice in today's business.
In addition, it is important to mention here that the decision making does not relate to the result, it means good decision making does not always come with good result. However, the healthy decision making has more chance to have the good results. Hence, we just try our best to gather information and use the appropriate tools and techniques to support our decision making. Individually, I do believe that it is right or wrong answer but it is suitable or not to the various faced situations.
All in all, from my viewpoint, this module week is the window which introduced us the exist of methodologies and techniques. It is our own interesting which one that we prefer to explore more, and or any tools and technique can be used in real life. The most imporatant is how we make the decision to pick up the tools and technique and be able to apply in the near future, the group assigned project as the typical example with the aim to have the robust decision making.