Report Title: Strategic Decision Making within a SME Manufacturing Company

• There are 4 tasks to complete, each with sub-tasks
• Within each task bullet points have been provided which include the content which must be covered within the answers. Please ensure all these bullet points are covered within the answers.
• The report should be written anchored around a SME (£10 million turnover, 75 employees) manufacturing business who design and manufacture products for use in heavy industries such as Mining, Oil and Gas, General industry.

SUBMITTED WRITTEN WORK MUST ;

 

• Be aerial font, size 10 or 12 and double spaced
• Have a word count of 4000 words
• Contain a clear numbering system and a contents page where appropriate
• Include a bibliography/reference of sources used in Harvard referencing format.
• Note, DO NOT use Wikipedia as a source of reference.

 

1      Understand the role of information in strategic decision-making

 

1.1      Discuss the link between strategic decision making and business goals

1.2      Evaluate the role of information in strategic decision-making

1.3      Evaluate the requirement for integrated information systems to support strategic decision-making

1.4      Discuss the need to align information systems with business  strategy

1.5      Assess the need for a corporate information systems strategy

 

Key items to include in answers

Information:

• quality of information e.g.
  • complete
  • organised
  • accurate
  • relevant
  • reliable
  • intelligible
  • timely
  • fit-for-purpose
• type of information
  • tacit
  • explicit
• provision of certainty
• risk reduction
• informed decision making
• prompt decision making
• control
  • strategic
  • managerial
• competitive advantage,
• business insights
• evaluate strategic options
• communication with relevant stakeholders

Information systems:

• networks
  • intranets
  • extranets
• world wide web
  hardware
• software
• communications
• management information systems (MIS)
  decision support systems (DSS)
• automated decision making
• systems integration
• shared data
• systems connectivity
• alignment with business strategy
• costs
• benefits
• corporate information systems strategy

 

 

 

 

2      Understand how information systems support business activity

 

2.1      Evaluate the contribution of information systems to business planning

 

• informed decision making
• uncertainty reduction
• factoring risk
  formulating plans
• objective setting
• establishing benchmarks
• implementing vision
• efficient use of resources
• improved competitively
• systems efficiencies

2.2      Assess the value of information systems to business-decision making

 

• levels of decision making
  • strategic
  • tactical
  • operational
• problem definition
• analysis of alternatives
• prioritising options
• selecting from alternatives
• fallback options
• quantifying costs and benefits of decisions;
• improved reliability;
• speed of decision making
• issues requiring decisions
  • bounded
  • unbounded
• unintended consequences

2.3      Assess the role of information systems in supporting business  operations

 

• operational areas e.g. manufacturing;
• distribution;
• marketing;
• customer relationship management;
• finance;
• human resources;
• activities (plan, co-ordinate, monitor, feedback, control, optimise)

 

 

3      Understand quantitative approaches to strategic decision-making

 

3.1      Analyse ways in which quantitative approaches are used to support strategic decision-making

3.2      Evaluate the reliability of quantitative techniques used in strategic decision-making

3.3      Evaluate the limitations of quantitative techniques in strategic  decision-making

 

Quantitative approaches:

• statistical techniques;
• operational research;
• linear programming;
• business analytics;
• game theory;
• project management
  • critical path management [CPM]
  • performance evaluation review technique [PERT]
• process planning
• simulation
• use of software tools e.g. statistical analysis system (SAS)
• Statistical Package for the Social Sciences (SPSS)
• enterprise resource planning

Limitations:

• assumptions
• quality of data
• qualitative factors
• reliability of technique
• confidence in output information
• predictive usefulness
• system shock
  • exogenous
  • endogenous
• interpretive subjectivity

 

4      Understand systems approaches to strategic decision-making

 

4.1      Evaluate the contribution of systems approaches to strategic decision-making

 

• soft systems methodology
• viable systems model
• system dynamics
• strategic options development and analysis
• critical systems heuristics

 

• advantages and limitations of systems approaches

 

4.2      Discuss how decision making theories can inform strategic decision-making

 

• choice under uncertainty
• theories e.g. rational model
• incremental decision making model
• mixed scanning model
• contingency theory
• expected utility theory

 

4.3      Analyse the limitations of decision making theories in strategic  decision-making

 

• assumptions
• incomplete problem definition
• information overload
• subjectivity