Question

175 words:

Discuss risks and biases for a chosen organization. How can they taint analysis? How could you minimize resistance to the use of analytics-based decision-making?

Answer 1

My chosen organization is Acme Incorporation which deals with cosmetic and skin care products and operates in Beverly Hills, California. The organization faces majorly two great risks : One being associated with its Dynamic Environment resulting in creation of Operational risk which has the potential of hauling the smooth functioning of operations. The advent of new technological developments, the environmental regulations on production of products and operational methods, changing preferences and needs of customers and competitors pressure; all act as threats to the business and thus need to be addressed regularly.

Another risk being the Strategic risk such as the failure of getting products acceptance, poor quality maintenance , deviated outcomes, not meeting deadlines, exceeding budget etc. They also need to be addressed to prevent them from becoming complexities and problems.

The various biases faced by the organization include :

The Halo effect of employees due to which the mistakes or error are mostly over looked. The primacy or recency effect resulting in firing reasonably able candidates, development of Stereotypes among co workers hampering the coordination, the favouritism attitude of managers making some employees fall behind.

I can reduce resistance to the use of analytical decision making through establishing effective communication which will highlight its benefits and clears all sort of doubts or confusions regarding it. Providing critical thinking and analytical knowledge based training to employees will also help in removing the resistance to a very great extend. Staying transparent and providing proper guidance and support whenever required will help in raising their confidence and morale for using Analytical Based Decision Making.

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Thanks dear student... Hope this helps...

Good luck :)