Mgmt20144 The Decision Making Process Assessment Answers

Your task is to compile an annotated bibliography of five recent (2014-2018) peer reviewed journal articles from the list of journals below. You cannot use articles from any other journals and you cannot use the journal articles that are on the unit Moodle site. You must include the doi for each journal article in the reference list.

1. Identify five (5) journal articles that match the first five topics of this unit. That is, you must find one journal article per topic: Organisational structures or governance, b. Environmental forces, c. Risks confronting the firm, d. Organisation and business practices, and e. The functions of diverse firms. You should search the library databases via the online 'advanced search' function of the CQUniversity library.  By choosing the 'advanced search' function you can select the actual journal you wish to search.
2. Write a short 150 word introduction discussing why the contextual factors are important to organisational decision making. The introduction is 150 words in total not150 words per article.


Write approximately 250 words a. defining the main contextual factor being discussed in the journal article, b. the new findings in relation to the contextual factor, and c. what these findings mean for managers in organisations. You should write this 250 word summary for eachof the five journal articles.
Write a short 200 word conclusion recommending one specific contextual factor as most important to CQUniversity's organisational performance. Explain your reasoning.
Write a reference list correctly formatted in the APA style. This reference list must contain all five articles as well as the doi for each article.

Answer:

Decision-making is considered the vital functions of managers in every kind of business. It is required for the manager to understand the process of decision making inefficient manner because they would be responsible for every decision within the organization. The contextual factors have a significant role in making decisions for the organization because the impact of the contextual factor can affect the entire organization.

The roles of the organizational structure within the organization are huge as it helps the employee to work in an efficient manner. The discussion will be made on various contextual factors in which each contextual factor will be mentioned with the help of the journal articles. There are major five topics such as Organisational structures or governance, Environmental forces, Risks confronting the firm, Organisation and business practices, and the functions of diverse firms. 

• Organizational structure or governance

The contextual factor is an organizational structure in this journal article. the main focus of the author is on the structure of the organization that entails offering services to international markets by export activities. They should consider the degree to which their structures of the organization and strategies of the sustainability complement each other. This is particularly significant when the exported products are imitative from usual resources. The aim of this study is to evaluate the range of the export activities together by considering the organizational structure that helps sustainability practices in the specific company. This research paper is entailed a case study which is based on the qualitative approach. The data in the research has been collected with the help of the semi?structured interview script which is recorded in audio.

The new findings of the research express that the despite the importance of formal structures focused on the areas of environmental management that are basics for the coordination of sustainability practices. Moreover, the sustainability of the customer depicts indifference to documentation relying on the countries to which exports are created. The manager of the company would be facilitated with the new findings because they will get to know about the organizational structure.

• Environmental forces

The contextual factor is environmental forces in this journal article and this article suggests that vibrant capabilities can provide the competitive advantages of the organization, but this consequence is delegated on the level of enthusiasm of the external environment of the company. it has been found that the non-linear, inverse U-shaped modernization is implemented under this paper, entailing the bonding between completive advantages and dynamic capabilities are strongest under intermediary levels of dynamism but in the comparison of other factors, it is weaker when dynamism is low or high. The author has suggested that the approaches of the dynamic capabilities address the ability of the organization to innovate for the purpose of coping with the dynamic environment.

The new findings of this article are that the role of the environmental forces is more strongly linked with the competitive advantages in somewhat dynamic in comparison in the stable or upper level of dynamic environments.  The manager of the organization would be facilitated with the help for this new finding in which they can perform within the organization in a more efficient manner. It will help them to learn more about the effect of the environmental forces that encompass the political, economic, technological social, legal and environmental factors.

• Risks confronting the firm

 The major element of the research is the managing the risk as it can be seen that the risk is the key concept which has to be accepted by every organization so that the company can grow with full of experience. The main aim of this article is to the elaborate the strategies of the managing risks and resilience. The main focus of this article is on the employees’ comfortability and along with this, the article has emphasized the natural disaster which is the major cause of risk for many businesses. These natural risks are floods, earthquakes, hurricanes, large industrial and nuclear accidents, and explosions.

The new findings in this article suggest that the resilience of organizations is not only dependent on the accessibility of the resources but also on the structure of the organization which is formal in the view of the employees and the outsiders. It has been found that the changing environment within the organization is an essential component which can bring the risks for the company and the very nature of emergencies needs that companies are capable to take decentralized decision-making structures, more willingly than hierarchy.

The manager would be facilitated with the new findings as it helps him to understand that in which situation, the manager to take the action in order to maintain the dignity of the organization. It is required for the manager to analyze that how individual employees pact with undesirable events, and what can be completed to enhance their flexibility.

• Organisation and business practices

The best business practices have the ability to motivate the employees in an efficient manner so that they can perform well within the operation of the company for the purpose of amplifying the productivity of the business. The author has explained that the companies that adopt the business practices are considered to obtain measurable benefits from doing so. The articles have suggested the three long-term outcomes such as lower financial volatility, higher growth and better chances of survival. The key findings of the articles are that the family businesses have importance in which they need to assign to the adoption of socially sustainable business practices from a long-term perspective. These business practices facilitate business to become more flexible in the long term and less vulnerable to financial unpredictability. Hence, adoption of the business practices offers the aim of the family businesses and long-term survival.

The new findings of this research are to increase the better practices within the organization so that the business can attain the objectives within the decided time frame. It has been found that the flexible resources take several years to improve and more become specific. Flexibility within the business can enhance the productivity of the business. There is an example in the article; a new packaging solution modified by a vendor can offer an organization with effective cost and transportation options. The manager of the organization will be benefitted with the help of the new findings as he would be able to manage the flexibility within the business for the purpose of bringing the productivity within the business so that one can act towards his performance.

• The functions of diverse firms

The functions of companies are different from each other and this journal article suggests that the goal of companies rely on the mission of the company. This article suggests that the value of the business planning to new business ventures and small businesses has been the major matter of debate among researchers. The main aim of this paper is to explore the business planning practices of multi firms in the form of the legitimacy formation among social enterprises of Australia. it has been found by the author that the business planning practices of diverse firms are driven through the demands in order to make legitimacy with external stakeholders along with the organizational performance imperatives.

The new findings of this paper are the process of the business planning of diverse firms provides unique relational functions among social enterprises. This is considered as the implications for understanding legitimacy formation within multi-goal businesses. The new findings suggest the manager of the company focus on the unique relation among social enterprises in order to amplify the revenues of the company.

Conclusion

It can be concluded from the above discussion that the role of the management and business context in the business is wider as it facilitates business to move ahead with efficient way. The discussion has been made on the contextual factors that impact the decision-making process of the company. These five topics Organisational structures or governance, Environmental forces, Risks confronting the firm, Organisation and business practices, and the functions of diverse firms are emphasized under this annotated bibliography.

The first article expressed the importance of the organizational structure within the business; on the other hand, the second article has discussed the environmental forces and their impact on the business’ productivity. The third article has demonstrated that the risks confronting the business in which the strategies of the managing risks and resilience have been elaborated. and the fourth article is taken for the purpose of describing the business practice and their role in the growth of the business. At last, the fifth article has emphasized the functions of the diverse firm. The new findings and the benefit from those findings to the manager have also elaborated under this annotated bibliography.