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Presentation/PPT
27/08/2022
Claudia Pena
September 20, 2023
BUS219
Discussion 3- Decision Making in an Uncertain Word
In the business world we are constantly asked to make business decisions in the presence of uncertainty. For example, here at Cochise College we need to create semester schedules without knowing exactly how many students will register, and without knowing exactly what mix of class formats students will want.
Think about a business you have worked for, or a business you might consider working for in the future. In about 150-200 words:
· Describe one or more decisions company management would need to make ‘in the presence of uncertainty’. Then describe different tools or approaches the company might use to help them make decisions.
·
Respond in 50-100 words to 1 classmate:
Yarlin:
“1.) I feel all companies make decisions “in the presence of uncertainty”. Schools for example, have to depend on how many students are enrolled in order to budget enough staff. Large schools depend on third parties that give them a report on the demographics in their district. They call this Data Ecosystems. Some of the information provided for example is birth rates, new companies/closed companies (jobs), new public schools or charters schools. The majority of public schools receive money from enrolled student attendance and taxpayers. If taxpayers don’t pay, then schools don’t receive those funds, as well as if students not showing up for school. Grants are another revenue source, however the allocated ones are based on your economic data, for example low-income families or assessment data. Other grants you have to jump through many hoops to receive and then hold on to for additional years.
Additional tools schools use are surveys. Based on the survey results schools can take a good “guess” at how many students will return. Additional information such as siblings, having an afterschool program or daycare services. I feel schools are tested more each year, having to always provide documentation that is most times overwhelming and being short staffed.
Observations would be another tool to use for staffing and improvement. The less turnover the less funds you spend in training and the improvement in programs can attract more students therefore increasing revenue.”
Response (50-100 words):
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