Here you can read ultimate free detailed guide of BUS 225 2-2 Discussion: Making Decisions and Overcoming Bias Using Research and see its solution.
Instructions of BUS 225 2-2 Discussion
Discussion
For this discussion, imagine you’ve taken on the role of a manager at an engineering company. You’ve been approached by a supplier of goods—one you haven’t worked with before. The supplier shows you the new software package it is launching in a few months, and it piques your interest. The demo of the new technology shows you how it could really help your team design and develop projects faster. It also includes many add-ons for items that your company is not currently working on, but that your intuition says it should be.
The supplier’s study says that 90 percent of your industry will be transitioning to this new technology in a couple of years, and that if your company doesn’t move forward with it, you will fall behind. You are eager to grow revenue, develop your team, and wow your clients. The supplier says it is not making the new technology available to your competitors because it would prefer to partner with a prestigious company like yours. You think the supplier’s representative is knowledgeable about the new technology and your industry, and you enjoy the conversations you’ve had, but you still feel uneasy about making a decision on whether to partner with this new supplier.
In your initial post, address the following:
What research steps need to take place before you can make a decision?
How would you use qualitative or quantitative data to help you make a decision? Explain the difference between these two methods.
How would you use primary and secondary sources to support your decision? Explain the difference between these two source types.
In response to at least two of your peers, address the following:
Can you spot bias or illogical or unethical arguments your peer’s initial post? Explain your response and give examples.
To complete this assignment, review the Discussion Rubric.
Step-By-Step Guide on BUS 225 2-2 Discussion: Making Decisions and Overcoming Bias Using Research
Introduction to BUS 225 2-2 Discussion
This discussion post revolves around your understanding of decision-making and overcoming bias using research. I will provide brief and descriptive guidelines to solve the BUS 225 2-2 Discussion: Making Decisions and Overcoming Bias Using Research post and a dummy solution for each section. This Owlisdom How-To Guide will equip you with guidelines to tackle all the queries related to the bus 225 discussion 2 post. Let us begin with the guide.
Introduction to the Scenario
We will briefly introduce the scenario to start the BUS 225 2-2 Discussion: Making Decisions and Overcoming Bias Using Research,
- Introduce the context of being a manager at an engineering company faced with a decision regarding a new supplier’s software package.
- Summarise the scenario, highlighting the potential benefits and concerns associated with the new technology and the decision to be made.
Example
As a manager at an engineering firm, I am evaluating a new supplier’s software that promises to enhance our project development speed. While it is enticing as it aligns with industry trends and potential expansion areas, concerns about its novelty, exclusive supplier terms, and our readiness for technological adoption necessitate careful decision-making.
What research steps need to take place before you can make a decision?
Research Steps Before Decision-Making
For this section of BUS 225 2-2 Discussion: Making Decisions and Overcoming Bias Using Research, we will discuss the necessary steps to take before decision-making. We will identify the research steps needed to decide on partnering with the new supplier.
- Market Analysis: Conduct an industry-wide analysis to verify the claim that 90% of the industry will transition to this new technology.
- Competitor Analysis: Understand competitors’ technologies and whether they plan to switch.
- Supplier Background Check: Research the supplier’s history, reputation, and reliability.
- Technology Evaluation: Assess the software’s compatibility with current systems and scalability for future needs.
- Cost-Benefit Analysis: Compare the costs of adopting the new technology against the projected benefits and revenue growth.
Example
Before deciding to partner with the new supplier, we must undertake a thorough research process. First, a market analysis is necessary to verify the supplier’s claim that 90% of the industry will adopt this new technology, ensuring our move aligns with broader industry trends (Wang et al., 2020). Next, a competitor analysis will help us understand the technologies currently employed by our competitors and their plans for future upgrades. Additionally, a background check on the supplier will provide insights into their reliability and reputation. We must also evaluate the software’s compatibility with our current systems and its potential for future scalability. Finally, a cost-benefit analysis will compare the financial investment required against the projected benefits and revenue growth, helping us to make an informed decision (Mishan & Quah, 2020).
How would you use qualitative or quantitative data to help you decide? Explain the difference between these two methods.
Utilising Qualitative and Quantitative Data
For the next section of the BUS 225 2-2 Discussion: Making Decisions and Overcoming Bias Using Research, we will explain how both qualitative and quantitative data can assist in making the decision.
- Qualitative Data: Gather opinions and feedback from your team and industry experts about the software’s potential impact on workflow and innovation.
- Quantitative Data: Look at statistical data, such as projected return on investment (ROI), market trends, and the technology’s adoption rate within the industry.
- Difference Explanation: Highlight the difference between qualitative data (non-numerical insights and opinions) and quantitative data (numerical data and statistics).
Example
Qualitative and quantitative data are invaluable in making an informed decision about the new software. Qualitative data involves gathering insights from team members and industry experts to understand the potential impact of the software on our workflow and innovation (Muhammad, 2021). On the other hand, quantitative data involves analysing numerical statistics such as projected ROI, market trends, and adoption rates within the industry. The critical difference lies in the data: qualitative data offers subjective perspectives and insights, whereas quantitative data provides objective, numerical evidence that can be statistically analysed.
How would you use primary and secondary sources to support your decision? Explain the difference between these two source types.
Leveraging Primary and Secondary Sources
In this section of BUS 225 2-2 Discussion: Making Decisions and Overcoming Bias Using Research. We will describe using primary and secondary sources to support the decision-making process.
- Primary Sources: Direct information from the supplier, including demonstrations, technical specifications, and pilot testing results.
- Secondary Sources: Independent reviews, industry reports, competitor announcements, and academic studies on similar technology adoptions.
- Source Types Explanation: Clarify that primary sources offer direct evidence or first-hand accounts, while secondary sources involve analysing, interpreting, or synthesising primary source information.
Example
In the decision-making process for adopting new technology, utilising both primary and secondary sources is crucial (Li et al., 2022). Primary sources provide firsthand evidence directly from the supplier, such as demonstrations, technical specifications, and pilot testing results, allowing us to assess the technology’s direct impact and functionality. Secondary sources, such as independent reviews, industry reports, and academic studies, offer an analytical perspective by interpreting and synthesising primary data, giving us insights into broader industry acceptance and comparative effectiveness. By integrating both sources, we can form a well-rounded perspective that enhances our decision-making accuracy and confidence.
Can you spot bias or illogical or unethical arguments in your peer’s initial post? Explain your response and give examples.
Peer Responses
Responding to peers is one of the vital parts of the BUS 225 2-2 Discussion: Making Decisions and Overcoming Bias Using Research posts. We need to provide at least two peer responses. I will provide one example post. You can write your peer responses by keeping the below points in mind.
- Recognition of Bias: Look for undue favour or scepticism towards the supplier or technology without sufficient evidence.
- Logical Fallacies: Identify if conclusions are drawn without a clear connection to the evidence presented.
- Ethical Considerations: Point out if any ethical issues are overlooked, such as the supplier’s exclusivity claim potentially limiting competition.
- Constructive Feedback: Offer feedback respectfully and constructively, focusing on the argument’s content rather than the individual’s character.
Response 01
Reviewing your post, I noticed a potential bias in the uncritical acceptance of the supplier’s claim that 90% of the industry would adopt this new technology without presenting any independent market analysis or evidence to support this statistic. This could lead to a skewed view that may not accurately reflect industry trends. Additionally, the supplier’s exclusivity claim might limit competition, raising ethical concerns about market fairness that weren’t addressed. It would be beneficial to incorporate more diverse sources and perhaps a more critical perspective on the supplier’s motives and claims to strengthen the analysis.
Closing
This How-To Guide allows you to understand the critical role of decision-making and overcoming bias using business research. Following the guidelines, you can solve BUS 225 2-2 Discussion: Making Decisions and Overcoming Bias Using Research like a pro. Good luck!
In the next module of BUS-225, we will explore the 3-1 Project One Submission.
References
Li, C., Chen, Y., & Shang, Y. (2022). A review of industrial big data for decision making in intelligent manufacturing. Engineering Science and Technology, an International Journal, p. 29, 101021.
Mishan, E. J., & Quah, E. (2020). Cost-benefit analysis. Routledge.
Muhammad, T. (2021). Overlay Network Technologies in SDN: Evaluating Performance and Scalability of VXLAN and GENEVE. International Journal Of Computer Science And Technology, 5(1), 39–75.
Wang, X., Zhao, Y., & Hou, L. (2020). How does green innovation affect supplier-customer relationships? A study on customer and relationship contingencies. Industrial Marketing Management, pp. 90, 170–180.
