Business Decision Making Project Part 3
Assignment
Instructions:
Prepare an 11- to 15-slide Microsoft® PowerPoint® presentation for the senior management team based on the business problem or opportunity you described in Weeks 3 and 4.Include on the slides what you would want the audience to see (include appropriate visual aids/layout). In the Speaker Notes section, include what you would say as you present each slide. If any source material is quoted or paraphrased in the presentation, use APA citations and references.Draw on material you developed in the Week 3 and 4 assignments.Include the following in your presentation: Introduction slideAgenda slideDescribe the organization, with a brief descriptionExplain the business problem or opportunityAnalyze why the business problem is importantIdentify what variable would be best to measure for this problem and explain whyApply data analysis techniques to this problem (tell which techniques should be used: descriptive stats, inferential stats, probability, time series) and explain whyApply a possible solution to the problem/opportunity, with rationaleEvaluate how data could be used to measure the implementation of such a solutionConclusionReferences slide (if any source material is quoted or paraphrased throughout the presentation)Format your assignment consistent with APA guidelines.
Additional
Requirements:
Complete the
assignment using your own words with correct spelling, punctuation, and
grammar in APA format. No plagiarism.
If you are not
using your own words or if you are quoting any information or definitions,
make sure to cite the information by using proper APA format citations and
don’t forget to include the source of the information as a reference on
the references page by using proper APA format.
Read and use the
attached PDF, Word, and/or Power Point document(s) that are attached to
this question in order to understand the necessary information in order
for you to be able to complete the assignment accurately and completely.
Read and use any other files that are attached
to this question in order for you to be able to complete the assignment
accurately and completely, if applicable. Do not forget to include
any other attachments as references and to use citations from them, if
applicable.If the assignment is a Power Point Presentation,
add in the necessary speaker notes that explain each slide.
business_decision_making_part_3_grading_guide.doc
business_decision_making_project_part_1.docx
business_decision_making_project_part_2.docx
Unformatted Attachment Preview
Individual Assignment: Business Decision Making Project Part 3
Purpose of Assignment
The purpose of this assignment is to have students demonstrate mastery of their ability to communicate
statistical concepts to business leaders to inform business decision-making based on data. This assignment is
part 3 of the project began in Week 3 and continued in Week 4. This assignment brings together information
students completed in Weeks 3 and 4 and students will format the information suitable for an audience of
senior management.
Resources Required
Week 3 Business Decision Making Project Part 1
Week 4 Business Decision Making Project Part 2
Grading Guide
Content
Met
Partially
Met
Not Met
Total
Available
Total
Earned
7
#/7
Describe the organization with a brief
description.
Explain the business problem or opportunity.
Analyze why the business problem is
important.
Identify what variable would be best to
measure for this problem. Explain why.
Apply data analysis techniques to this
problem (tell which techniques should be
used: descriptive stats, inferential stats,
probability, linear regression, time series).
Explain why these techniques should be
used.
Apply a possible solution to the
problem/opportunity with rationale.
Evaluate how data could be used to measure
the implementation of such a solution.
The presentation is 11 to 15 slides in length.
Comments:
Writing Guidelines
Met
Partially
Met
Not Met
Total
Available
Total
Earned
3
#/3
10
#/10
The paper—including tables and graphs,
headings, title page, and reference page—is
consistent with APA formatting guidelines and
meets course-level requirements.
Intellectual property is recognized with in-text
citations and a reference page.
Paragraph and sentence transitions are
present, logical, and maintain the flow
throughout the paper.
Sentences are complete, clear, and concise.
Rules of grammar and usage are followed
including spelling and punctuation.
Assignment Total
Additional comments:
#
Comments:
Business Decision Making Project Part 1
Business Decision Making Project Part 1
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Business Decision Making Project Part 1
2
Company Overview
ManpowerGroup is an American international company and its headquarter is in
Milwaukee, Wisconsin U.S. The company is providing assessment and recruitment, career
management, training and development, workforce consulting and outsourcing employees to
other countries. Moreover, the company is researching for the global talent sine a decade
(ManpowerGroup, n..d). There is a high level of unemployment in the global labor market,
however, there are also recruitment challenges that are faced by the employer of the
ManpowerGroup. The fact is that there is the excess supply of the labor in the aggregate,
however, the markets that need specific skills are highly segmented. That is why, employers are
facing challenges in finding the right kind of employees for the right kind of jobs. According to a
survey in 2012, there are 24 million unemployed people in Europe, however, at the same time,
there are 2.2 million vacancies that are unfilled due to the reason that the employers do not find
the right kind of skills. The company is facing issues in managing the manpower that is needed to
fill the required vacancies. This research project will discuss the problem faced by the company,
data collection method and the measurement of the validity and the reliability.
Problem Identification
There could be several problems but for the purpose of this project, one problems faced
by the company is the skills shortage. Managing manpower is a big challenge now-a-days. This
includes hiring the best employees, retaining them, training and developing them.
ManpowerGroup has reported the issues of hiring the right talented employees for the right kind
of jobs (ManpowerGroup, n..d). It surveyed in the 42 countries and inquired from the 41,000
hiring managers and concluded that almost 38% employers are facing difficulties in finding the
Business Decision Making Project Part 1
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right kind of employees for the right kind of jobs. This is due to the reason that the companies are
using the old recruitment methods and not using any recruitment strategies to place the
employees on the right kind of jobs.
Research variable
The research variable is the skills shortage in younger employees. The company traced
the reason that there are more aging workers and when they retire, there are not enough qualified
younger employees who are needed to replace the same job with the required skill sets and here
the problem of skill shortage arises. In this research project, we will find that why there is a skills
shortage in younger employees due to which employer face recruitment challenges to fill their
vacancies. So, the skills shortage is the independent variable and the recruitment challenges faced
by the employer is the dependent variable. Because if employees will have the right kind of
skills, employers do not have to face the recruitment challenges to fill the vacancies with the
right kind of employees (keeping other variables constant).
Data collection method
ManpowerGroup will collect the data about the sample to trace the problems. The
company will collect the data on employees’ skills shortages for a particular job and the
challenges faced by the employer to fill that vacancy with the right kind of skills. There are two
methods of data collection that are qualitative and quantitative (Wyse, 2011). The qualitative
method uses a procedural structure to collect the data. The results from the sample will be
generalized to the whole data to find and analyze the pattern. There would be certain
methodologies to collect the quantitative data that are surveys, fieldwork, interactions and case
studies. On the other hand, qualitative data is collected by defining a problem and the results
Business Decision Making Project Part 1
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from the data collection are used to trace the root cause of the problem. Qualitative data can be
collected by employing 3 methods that are in-depth interviews, participants’ observation (direct
interaction with the employees) meta-analysis and focus groups (Wyse, 2011). In finding the
ManpowerGroup problem, the company will use the qualitative data to define the problem and to
find the root cause of the problem that why the employers are facing the recruitment challenges
to hiring the best talent.
Validity and reliability of Data
Reliability:
Reliability means the degree up to which the results are constant when performed again. It
is the dependency on the proposed strategies for a certain period of time. It also confirms that the
results are accurate and we can use these results in making decisions (Phelan, 2005). We will
perform different tests to check the reliability of the data.
1. Equivalence test: In this type of test, two forms of the data will be compared with the
changing variables which will estimate the reliability with the data.
2. Stability test: Another test for checking the reliability is the stability test. This test will
enable to forecast the similar results over a period of time.
3. Internal analysis: Moreover, we can also perform internal analysis on the data to check
the reliability (Phelan, 2005).
Validity:
It is the degree up to which the tests support the proper interpretations of collected data. It
also measures that up to what extent, the tests support the true estimates of the identified
Business Decision Making Project Part 1
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problems. It also predicts the intensity and accuracy level of the data. There are three types of
validity.
1. Construction or structural validity: It is the degree up to which the test fulfills the
conditions of measurements that it claims to measure.
2. Content validity: it is the degree up to which the test measures all the aspects of the
construct. It will consider all aspects of the skills shortages of employees and the
challenges faced by the employer.
3. Criteria validity: It measure up to what extent a measure is associated with the outcome
(Phelan, 2005).
There are 3 levels of the intensity level of validity that state that
1. Data collected is highly valid
2. Data collected is moderately valid
3. Data collected is generally valid (Phelan, 2005).
Conclusion
Thus, ManpowerGroups is facing the issues of recruiting the right kind of talent for the
vacancies. At the same time, there is a huge amount of unemployment but the employers are not
finding the employees who have the desired skills. The data will be collected by using the
qualitative method including interviews, participants’ observations, meta-analysis and focus
groups. Furthermore, the different tests of reliability and validity will be performed to check the
dependency and accuracy of the results.
Business Decision Making Project Part 1
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References
ManpowerGroup (n..d). Talent shortage survey. Retrieved from
http://manpowergroup.com/talent-shortage-2015
Phelan, C. (2005). Exploring reliability in academic assessment. Retrieved from
https://www.uni.edu/chfasoa/reliabilityandvalidity.htm
Wyse, S. E. (2011).
Quantitative
Research?
What is the Difference between Qualitative Research and
Retrieved
from
http://www.snapsurveys.com/blog/what-is-the-
difference-between-qualitative-research-and-quantitative-research/
Business Decision Making Project Part 2
Business Decision Making Project Part 2
1
Business Decision Making Project Part 2
2
Introduction
ManpowerGroup is the American Multinational company which I discussed in the project
part 1. The company is facing the problem of skills shortage. Employers are not getting the right
kind of employees to fill the vacancies that they want to fill with the competent employees. On
the other hand, there is large number of unemployed people who are not getting the jobs because
they are not fit for the jobs that are vacant. This is due to the skills shortage and employers’
expectations for the skills. I identified the research variable in part 1 of this project, the skills
shortage is characterized as the independent variable and the recruitment challenges faced by the
employer is characterized as the dependent variable. Now I will discuss the kinds of descriptive
statistics that are needed to collect the data, the inferential statistics for the analysis of the data,
the role of trend analysis or probability analysis to address the business problem. At the last, I
will also discuss the role of linear regression in the trend analysis and also the role of time series
to address the business problem.
Descriptive statistics for the data collection
The company will use qualitative data collection method and for the qualitative data
collection, I would use relative frequency and frequency distribution. The frequency distribution
is recording the data in a tabular form which indicate the data in several classes that do not
overlap each other. Relative frequency is determined by the frequency of a class which is divided
by n, where n would be the total number of data. Descriptive statistics will help to summarize the
sample of the people. The data will be collected on the types of the skills shortage for a particular
Business Decision Making Project Part 2
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job. Frequency distribution will tell how frequent the employees lacks the skills and relative
frequency will determine the comparison of a competent person who has the skills to the total
number of candidates who lack the skills (Boundless, n.d).
Inferential statistics for the data collection
With the help of the inferential statistics, I will draw results from the big population. I
will use a sample to infer results on the population. Through random sampling, a sample will be
chosen from the population. After selecting the sample, regression will be used to find out the
relationship between the research variables. I will generate a hypothesis. There will be two
hypotheses. The null hypothesis will state that there is no relationship between the skills shortage
and employers’ challenges in recruiting the employees and alternate hypotheses will state that
there is no relationship between the skills shortage and employers’ challenges in recruiting the
employees. The results of the statistical inference will be based on the acceptance or rejection of
the null hypotheses (Babar, 2014). If we will reject the null hypothesis, it will conclude that there
is relationship between the skills shortages and the challenges of employees in recruitment.
The role of trend analysis or probability to address the business problem
Trend analysis will compare the data over time to find out any consistent results. It will
show the trend that either skills shortage is really pose recruitment challenges for the employers
who want to hire the desirable employees for particular jobs. Trend analysis will help to
determine that what type of skills are available to employers and what type of skills are short in
employees that employers need more. The probability distribution is also a statistical model that
Business Decision Making Project Part 2
4
will help to determine the probability of occurring an event and its impact on the outcome. For
example, impact on employers when there will be skills shortages in employees. In probability
analysis, I will determine the confidence interval and determine the probability of occurring a
point in a specific range. If the point will be within the confidence interval, then it will be aligned
with the occurring of the event and vice versa (Richards, n.d).
The role of linear regression in trend analysis
Linear regression will help to determine the presence of the association between the
independent variable and the dependent variable or the relationship between one or more than
one variables. It is a predictive analysis. The regression equation would be like this y = α + β *x,
where x is the independent variable, skills shortage, and y is the dependent variable, the
recruitment challenges faced by the employer. Β is the coefficient of regression and α is the
constant value. This regression will help to determine the causal relationship, trend forecast, the
strength of the relationship and prediction of impacts (Statistics Solutions, 2013).
The role of time series
Time series analysis will help the upper-level management in the decision-making
process. It will help the company to determine that how many challenges the company has faced
in recruiting the right employees in the past year and do these challenges are decreasing or
increasing. It will also help to determine, what are the skills the company needs the most and
what are the skills the employees are in short? Is it adequate for the company to hire the
employees with skills shortages and could training would be used to develop those skills so to fit
Business Decision Making Project Part 2
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the employees on the desired positions? It will also show the progress of the company with the
implementation of certain strategies. For example, if the company select to recruit the people
who are short-skilled and then train them, will it be beneficial for the company. Will it decrease
the future challenges in recruiting the short-skilled employees and then training them (Richards,
n.d)?
Conclusion
Thus, every business faces opportunities and problems during the conduct of their business. The
problems could be best understood by applying the statistics and with the data collection.
Descriptive and inferential statistics will help to collect the data and to infer the results drawn
from a sample to the overall population. Moreover, probability analysis will determine the
occurring of a particular event with the other and trend analysis will show the trend in the
variables with the help of graphs that either the effect is increasing or decreasing. Regression will
help to find the association between the independent and dependent variable and time series will
show the progress over years and will also show the increase or decrease in the impact over
years.
Business Decision Making Project Part 2
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References
Boundless (n.d). Graphs of Qualitative Data. Retrieved from
https://www.boundless.com/statistics/textbooks/boundless-statistics-textbook/frequencydistributions-4/frequency-distributions-for-qualitative-data-21/graphs-of-qualitative-data-106-97/
Babar, M. I (2014). Which statistical tests can be applied to qualitative data? Retrieved
from
https://www.researchgate.net/post/Which_statistical_tests_can_be_applied_to_qualitative_data2
Richards, L. (n.d). The Role of Probability Distribution in Business Management.
Retrieved from http://smallbusiness.chron.com/role-probability-distribution-businessmanagement-26268.html
Statistics
Solutions.
(2013).
What
is
Linear
http://www.statisticssolutions.com/what-is-linear-regression/
Regression?
Retrieved
from
…
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