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Solution
Table of Contents
1.1 Evidenced based practice. 2
1.2 Macro and Micro Analysis Tool 3
3.1 Financial and Non-financial Measures. 11
3.2 People Practice and Value. 12
Section Two- Quantitative and Qualitative Analysis Review.. 13
2.1 Analytical data using appropriate analysis tools and methods 13
2.2 Key findings from stakeholders 15
2.3 Justified recommendations. 16
Section One-Report
Introduction
Section 1 of the paper offers a summary of the report’s content, detailing its objectives and boundaries. It outlines both numerical and descriptive analysis parts, preparing for subsequent discussions in section 2, setting the stage for further exploration.
1.1 Evidenced based practice
Evidence-based practice combines the most outstanding research evidence from reaserches and studies with a professionals and people preferences and values as evidenced by Young (2023). Professionals carefully consider scientific evidence on treatment risks and benefits alongside each individual patient’s unique medical history, circumstances and priorities to determine the most appropriate course of care. The goal is making informed healthcare choices supported by rigorous research rather than relying solely on tradition, opinion or anecdotal experience.
Evidence-based practice in decision making draws on current research findings to help ensure the most effective strategies are employed. It has benefits of improved outcomes and more informed choices (CIPD, 2023). However, a limitation is that not all situations have a strong evidence base and clinical judgment is also still needed.
Approaches of Decision making
Critical thinking
Critical thinking entails methodically examining and assessing data to form logical judgments based on sound reasoning and evidence. It entails questioning assumptions, assessing evidence, and considering alternative perspectives to reach informed conclusions (CIPD, 2019). This approach fosters deeper understanding and helps guard against biases or logical fallacies.
Critical thinking’s strength lies in its ability to promote analytical skills and logical reasoning, enabling individuals to make well-informed decisions. However, its weakness may stem from potential subjectivity, as interpretations of evidence can vary among individuals
Evaluating evidence gathered from diverse sources. This involves gathering information from diverse and credible sources, such as peer-reviewed journals, reputable websites, and expert opinions as reported by New Mexico State University (2019). By considering multiple viewpoints and sources, individuals can mitigate the risk of misinformation and gain a more comprehensive understanding of complex issues. This method promotes robust decision-making and minimises the influence of biased or unreliable information.
Evaluating evidence from various origins enhances decision-making with broader insights, though it may induce time constraints and information overload if not managed effectively.
Application
Organisation issue-High Absence levels
LinkedIn (2023) point out that utilising critical thinking, organisations can address high absence levels by examining underlying causes beyond surface issues. Rather than simply reprimanding absent employees, critical thinking prompts managers to investigate potential workplace stressors or dissatisfaction, fostering a proactive approach to improve employee well-being and engagement. Meanwhile, assessing evidence from diverse sources enables organisations to develop comprehensive absence management strategies. By analysing data from various channels, including employee feedback, performance metrics, and industry benchmarks, organisations can tailor interventions effectively, mitigating absenteeism’s impact and promoting a healthier organisational culture conducive to employee attendance and productivity.
1.2 Macro and Micro Analysis Tool
Macro Analysis Tool
Porter’s Five Forces
Porter’s Five Forces framework is a robust tool for diagnosing organizational issues, challenges, and opportunities, particularly in dynamic environments shaped by legislation, new competitors, and growth prospects ( Mindtools, 2023). One significant strength is its structured approach, which systematically evaluates competitive forces impacting an organisation.
Organizational Diagnosis– The tool provides a systematic method for evaluating competitive dynamics impacting an organisation’s industry, aiding in identifying key challenges and opportunities. By analyzing supplier power, buyer power, threat of substitutes, threat of new entrants, and industry rivalry, it provides insights into an organisation’s positioning within its industry landscape (Gratton, 2024). This facilitates strategic decision-making by highlighting areas where the organization may need to strengthen its competitive advantage or mitigate threats.
Legislation Issues- While Porter’s Five Forces can help organisations anticipate regulatory impacts, it may not fully capture the intricacies of legislative changes. The framework primarily focuses on market dynamics and may overlook specific legal or regulatory nuances that could significantly affect the industry landscape. Organisations using this tool to assess legislative issues should supplement it with legal expertise to ensure a comprehensive understanding of potential impacts and compliance requirements.
New Competitor Challenges- Porter’s Five Forces effectively identifies the threat posed by new competitors by evaluating barriers to entry and existing competitive dynamics. According to Harvard Business School (2008), this enables organisations to develop proactive strategies to defend market share or exploit opportunities presented by new entrants. However, the framework’s static nature may not fully account for rapidly changing competitive landscapes, requiring organizations to continuously monitor and adapt their strategies to effectively address emerging competitive challenges.
Growth Opportunities- Porter’s Five Forces aids in identifying growth opportunities by assessing market dynamics and competitive forces. By understanding supplier and buyer power, as well as industry rivalry, organisations can uncover market gaps or areas where they can differentiate themselves to capitalize on growth prospects (Mindtools, 2023). However, the framework’s focus on existing market conditions may limit its ability to anticipate disruptive innovations or shifts in consumer preferences, necessitating a complementary analysis of broader environmental factors to fully exploit growth opportunities.
Micro Analysis Tool
Surveys- Surveys offer an effective method for diagnosing issues, addressing challenges, and exploiting opportunities within organisations as evidenced by LinkedIn (2023a). However, their success depends on thoughtful survey design, proper administration, and accurate interpretation of results to derive meaningful insights and drive strategic actions.
Diagnosing Issues- Surveys are a versatile tool for diagnosing organizational issues as they provide quantitative and qualitative data on various aspects of the organisation. They allow for gathering feedback from employees, customers, or other stakeholders to identify underlying problems (LinkedIn, 2024). Surveys can uncover issues such as low employee morale, customer dissatisfaction, or operational inefficiencies, providing valuable insights into areas that require improvement.
Addressing Challenges- Surveys enable organiations to systematically assess challenges by gathering data on specific areas of concern. Whether it’s identifying market trends, competitive pressures, or technological obstacles, surveys can collect relevant information from target audiences (Das, 2023). However, challenges may arise regarding survey design, response rates, and interpretation of results. Organisations must carefully construct surveys to ensure they capture relevant data accurately and consider biases that may affect responses.
Exploiting Opportunities- Surveys play a crucial role in uncovering opportunities by soliciting feedback and preferences from stakeholders as evidenced by Huebner et al. (2021). They can reveal unmet needs, emerging trends, or areas for innovation, guiding strategic decision-making. Surveys provide quantitative data on market demand, customer preferences, and competitor analysis, aiding in the identification of growth opportunities. Yet, organisations must be cautious of survey fatigue and respondent bias, ensuring that surveys are well-designed and targeted to elicit meaningful insights.
1.3 Critical Thinking
According to CIPD (2019), critical thinking encompasses actively conceptualizing, applying, analyzing, synthesising, and evaluating information to solve problems effectively, questioning assumptions, and considering diverse perspectives.
Principles of Critical Thinking
Critical thinking is grounded in several key principles essential for effective analysis and decision-making:
Objective rationale thinking: Critical thinking entails tackling problems and information with objectivity, prioritising evidence and logical reasoning over personal emotions or biases. (Laurier, 2022).
Checking source validity: Critical thinkers assess the credibility and reliability of information sources, verifying the accuracy and authority of sources before accepting them as valid (Labaree, 2024).
Considering unconscious bias: Critical thinkers recognize and work to address their unconscious biases, ensuring their judgments remain free from the influence of preconceived notions or prejudices.
Avoiding premature conclusions: Critical thinkers abstain from hastily forming judgments or decisions in the absence of ample evidence or analysis, instead preferring to gather and evaluate information thoroughly before reaching conclusions (Laurier, 2022). This principle emphasizes patience and thoroughness in problem-solving and decision-making processes.
Application of the Critical thinking in my own ideas
In my professional endeavors, I adhere to principles of integrity by meticulously presenting and validating facts and data, prioritising accuracy and dependability. I prioritize objectivity, striving to maintain a neutral stance in both approach and presentation, free from personal biases or emotions. Moreover, I emphasize evidence-based reasoning, relying on empirical data and logical analysis rather than subjective feelings. By adhering to these principles, I uphold standards of professionalism and credibility, fostering trust in my work and ideas among colleagues, clients, and stakeholders, and contributing to informed decision-making and problem-solving processes.
Application of the Critical thinking in other’s work
In my approach to evaluating the work of others, I find myself guided by the principles of critical thinking that I hold dear. As I delve into their research, I’m keenly aware of the importance of assessing an author’s credibility, drawing from my own experiences of establishing trust and expertise in my field. Scrutinizing their methods and sources, I’m reminded of the meticulousness required in my own work to uphold integrity. Fact-checking claims becomes second nature, reflecting my commitment to presenting accurate information over mere opinion. Moreover, my journey in recognizing and mitigating unconscious biases underscores the importance of remaining vigilant in assessing others’ work objectively. Patience and thoroughness, learned through personal trials, reinforce the necessity of avoiding premature conclusions. These principles, drawn from my own experiences, shape my approach to evaluating the work of others with confidence and integrity.
1.4 Decision Making tool
To ensure effective outcomes, various decision-making tools and approaches are employed, each offering a unique perspective and methodology (Indeed, Career Guide, 2022). Three such approaches include;
Best Fit Approach- The best fit approach entails assessing different alternatives and opting for the one that closely aligns with the goals, constraints, and context of the situation. This method emphasis the importance of ensuring compatibility between the decision and the specific situations (Francis, 2012). By carefully evaluating the available alternatives against predefined criteria, decision-makers can identify the option that offers the optimal balance of benefits and feasibility.
For example, in selecting a software solution for a business, best fit model would entail evaluating various software options, considering aspects such as price, functionality, adaptability, and integration with current infrastructure. Additionally, conducting thorough research and seeking user feedback can further refine the decision-making process, ensuring the chosen software aligns effectively with organizational needs and objectives. By prioritizing criteria that are most relevant to the organization’s needs and operational environment, decision-makers can choose the solution that best meets their requirements.
Future Pacing- Future pacing, as outlined by CIPD (2023), entails envisioning forthcoming scenarios to evaluate the consequences of present decisions. By adopting this strategy, individuals can anticipate and ready themselves for future circumstances, ensuring that their choices remain adaptable and robust amidst evolving challenges or prospects. For instance, when considering investment options, future pacing would involve analyzing how each investment might perform under various economic conditions and market trends. By envisioning different scenarios, such as economic downturns or technological advancements, decision-makers can gauge the long-term viability and adaptability of each investment option, ultimately selecting the one that offers the most promising prospects across multiple potential futures.
De Bono’s Six Hats- De Bono’s six hats method offers a systematic approach to decision-making, facilitating the examination of diverse viewpoints. Each “hat” symbolizes a distinct thinking mode, including creativity, critical analysis, optimism, and caution. This structured framework fosters comprehensive exploration and evaluation, enhancing the quality and depth of decision outcomes (MindTools, 2022). By systematically wearing each hat in turn, decision-makers can examine the decision from multiple angles, fostering comprehensive understanding and mitigating the risks of cognitive biases or blind spots.
In the context of strategic business decisions, employing De Bono’s six hats method involves a sequential transition through various thinking modes. Initially, decision-makers wear the white hat to collect factual data, then switch to the red hat to acknowledge intuitive responses and emotions. Subsequently, they may don the yellow hat to assess potential advantages and opportunities, continuing to switch hats to ensure a comprehensive exploration of perspectives and considerations. By deliberately shifting between perspectives, decision-makers can uncover insights, challenge assumptions, and arrive at well-rounded decisions that account for diverse viewpoints and considerations.
1.5 Ethical Perspectives
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