BSBINM601 Manage Knowledge and Information
Advanced Diploma of Leadership and Management
1. Explain the role of quantitative data in the decision making process.
The role of quantitative data in the decision making process can be the objective and evidence based decision making. Also, it is objective that can be measured and finalized to help decision making.
2. Explain the application of quantitative data analysis methods relevant to the decision-making process.
The application of quantitative data analysis methods relevant to the decision-making process include: surveying, cost benefit analysis, feasibility study, prepare the model, break even analysis, sensitivity analysis.
3. Define the team ‘’risk analysis’’
Risk analysis is a technique used to identify and assess factors that may jeopardize the success of a project or achieving a goal. This technique also helps to define preventive measures to reduce the probability of these factors from occurring and identify countermeasures to successfully deal with these constraints when they develop to avert possible negative effects on the competitiveness of the company.
4. Describe the need for risk management.
Any change and decision making in business should undergo risk analysis and risk management planning before any action to make sure the change or the decision is aligns with the organizational goals and meet the legislative requirements. It also help to avoid any consequences that cause by not planing well. That include efficient and cost effective issue.
5. Explain the role of a risk management plan.
A risk management plan is a tool used to record in detail what risks an organisation faces and the strategies in place to prevent or control them.
6. Explain how to use a risk management plan to determine an acceptable course action.
A risk management plan can be use to analyze and assess the:
7. Explain the range of specialist and other relevant groups to consult when making a decision, and provide one example of the reason for there inclusion.
The specialist and other relevant groups to consult when making a decision can be include:
8. Explain the importance of consultation when making decision.
When comes to a decision making of any change or big business decision, it will be the best to have consultation. It will help to ensure the appropriateness and success of the solution. They can also provide accurate information founded on knowledge, expertize and experience. Project or any decision that seek consult will be more likely to success.
9. Describe how you would ensure that decision taken are within the delegated accountability.
You need to check whether the person is authorized by the organization to make that decision before the decision is made. You may need to check the position descriptions refer to the organizational policies and procedures to identify the right person that can make the decision.
10. Explain why the decision you make should reflect your organization's values, objectives and procedures. In your response, provide the consequences of not considering these aspects.
All the decision that the company make should reflect the organization's values, objectives and procedures to ensure that the decision complements the organization's image and contributes to its strategic objectives, such as satisfying customers; meeting goals; remaining competitive etc.
Failure to do so may result in loss of customers, loss of reputation, not meeting targets or even loss your company.
11. Explain the importance of monitoring and reviewing organizational policies and procedures to legislative requirements when implementing and managing change.
The importance of monitoring and reviewing organizational policies and procedures to legislative requirements when implementing and managing change comply with curry legislation and prepare effective and efficient implementation plan.
12. What strategies can be used to ensure decisions are made in a timely manner?
Strategies can be used to ensure decisions are made in a timely manner are: First thing is to find out the time lines, and then develop a action plan to make sure the plan is stay in time line. Also, monitor the plan on going, and ask for support or resources when you think you needed one.
13. What aspects must be considered in order to disseminate information so that it meets the needs of the recipient?
Aspects must be considered in order to disseminate information so that if meets the needs of the recipient are:
Who they are?
What are their purposes?
What is the background?
What are their skill set?
What are their experiences?
14. What questions should be asked to ensure the privacy and confidentiality of information that is disseminated to others?
Some questions that can be asked to ensure the privacy and confidentiality of information that is disseminated to others can be:
15. Why does a communication plan need to be updated?
The reasons that a communication plan need to be updated included:
16. Why is it important to maintain and secure corporate knowledge?
It is very important to maintain and secure corporate knowledge because the corporate knowledge enhances the value of an organisation by identifying its assets and expertise. Also, the company must be secured and protected by procedures such as restricted access, firewalls and data encryption and off-site storage to ensure that data is able to be reliably and consistently retrieved when needed but only by those authorized to do so.
1. What key stakeholder groups would you include in the reference group?
The key stakeholder groups that I would include in the reference group would be all my team members, colleague, supervisor, anyone that do business with our company.
2. List the key of input these stakeholders may have in the decision.
The key of input these stakeholders may have in the decision can be include:
Approval from the stakeholder such as CEO
Seeking advise or expertize from stakeholders
3. What mix of consultation methods would you use?
Some methods that I can use for consultation are:
Face to face meeting to get consultation
Form email or phone consultation
4. How might you communicate effectively with the reference group to ensure all aspects are covered and consultation is effective?
Some communicate method I can to communicate with the reference group are from face to face meeting, phone conversation and email.
5. Why do you think the decision to write and implement bullying guidelines was a timely decision?
It is timely decision is because there are bullying incident at the moment, it is very important to set up guidelines for bullying to stop the bullying right away. Also, it will protect the team member by the new guidelines.
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