The objective of this report is to analyse several practices and challenges associated with Collaboration and crowdsourcing which has a direct impact over business growth and its operations. Both these practices are required to consider:
- Evaluate different situations by using different decision making models in M&S.
- Analyse key information technologies which are relevant to decision making of M&S.
- Provide appropriate plans in order to implement decision making technologies.
- Discuss success factors in implementing decision making technologies for Marks and Spencer.
Collaboration and crowdsourcing are major practices that will be taken in the consideration by an organisation that will help to gain a good market share and meet operational requirements of wide range of actions which support a good growth and development of functions within an enterprise (Luzzini and et.al.2015).
The proper utilization of different actions and activities will help in effective growth and operations in a better way. Besides this, it will help in better decision making and handling of wide range of situations that supports a good growth of company.
For the report, Marks & Spencer has been taken as the cited enterprise. It is a UK based retail entity. The report will cover various decision-making challenges faced by firm and different technologies that are used to for it. An action plan will be formulated to meet the implementation and barrier for organisation‘s success Besides this, the normative decision making model has been discussed. The problem related to the crowdsourcing is also discussed with objections and resistance to it (Biemans, 2018).
Topic 2 Collaboration within the Firm
1. Analysis of decision-making challenge(s)
The major decision making challenges that are taken into consideration by Marks & Spencer to ensure better functioning and handling of operations and are as follows:
- Inability to identify market trends: This is major issue and causes organisation to lack behind than its competitors in market. Marks & Spencer has to see through better handling of business activities that will help in superficial management of actions followed by firm. If an enterprise is unable to cope up with changes that are going in market and make changes within the company accordingly, the firm has to see through major losses in customer base and revenue generation (Stevens & Johnson,2016).
- Lack of business self services: Marks & Spencer has to look after better handling of activities that will help in effective growth in operational capability of retail enterprise. The organisation will look after good management of operations to see through effective collection of data that will aid in better decision-making and help firm to explore data areas and growth for company in a better way. Besides this, it paves path of furr analysis of decision making in a better way.
- Need of making use of proper information: the gathering of information sources is not enough for better growth and development of an enterprise. Marks & Spencer should have proper technology and sources to utilize the resources and data in order to generate good information which will help in proper handling of trade activities and decision-making process. It will also help organisation to get access to real time and practical situation in market place that will support good growth and development of an effective decision-making body within an organisation (Wong and et.al., 2015).
- Reliability of data: it is the major issue which is required to be looked after by organisation and facilitates good growth and development of business activities that are followed within organisation. It also helps in better management of business operations and supports good rise in functional capability and meeting of targeted goals and activities that are followed by an organisation. In order to facilitate a good and proper decision-making process, the firm will look after the authentication and effectiveness of data management process which will help in good rise in capability to decide the business activities.
2. Technology Components
A vivid range of technological components and operations will be taken in consideration by an enterprise that will help in improvement in decision-making. The utilization of various technological systems will help in proper management of business activities that will be taken in consideration by organisation. Some major technological systems that are considered by enterprise for better decision making are:
- Decision support system: It is the combination of software, system and set up which helps in the better collection of the data and aid in effective decision making that will aid in effective management of the business activities and meeting of the targeted goals and operations by the organisation (Stadtler, 2015). It helps firm like Marks & Spencer to tackle and rectify issues which are not well structured and are required to be maintained the operations of the organisation in a very effective way. It also involves the Group Decision Support System (GDSS), which will help in proper management of actions and effectiveness of different operations in various groups in better way.
- Geographical Information System (GIS): it is specifically designed to work with spatial information related to a specific geographic location. This is a location based service and may vary from one place to another in a very effective way. It will help the retail enterprise to handle wide range of business operations that will facilitate good decision-making (Ingram and et.al., (2015)).
- Artificial Intelligence (AI): with advancement in technology and for meeting of the targeted goals and operations, the cited retail enterprise will look after the effective using of the artificial intelligence tools and services that will help in better enhancement in the operational capability of the business entity. The artificial intelligence will support firm to gain a better increase in the capability of the enterprise that will aid in suitable rise in functionality of the organisation. They will support in a better decision making process by facilitating a deep data and information analysis.
- Expert System and Genetic System: The genetic and expert system is high level of AI system that helps in good improvement in the compatibility and analysis of data within firm to help in effective decision making and reaching conclusion. On the other hand, the genetic system will help in analysis of the most fitting and suitable solution to a business problem that supports effective decision-making (Bhattacharya and et.al., 2014).
3. Formulate a plan for implementing technology solution
An appropriate plan will be taken into consideration for better analysis and effective management if decision-making processes will help in effective rise for compatibility of an organisation. The effective following and implementation of technical plan will support a good growth in effectiveness of the organisation. The better implementation of the business activities will help in proper rise in the customer satisfaction level that will help in effective decision making and gain a better productivity. The formulated plan for the implementation of the latest technologies by the enterprise is as follows:
Step 1: defining the requirements and adopting the plan accordingly: this will help in the improvement of the operational capability of the organisation and meeting of the targeted goals and objectives. This will involve the better analysis of the resources and actions by the experts and analysts in the retail enterprise and suggesting the appropriate solution to the different business operations that are been developed by the organisation (Laudon & Laudon, 2015).
Step 2: seeking the appropriate system to meet the feasibility: management of Marks & Spencer will look after the adoption of the system and gain a good share of the operation that facilitates the different obligation within the firm. This will involve the better planning of costing, operations and execution of wide range of operations that will help in good rise in functional capability of the organisation. This will short list the appropriate options for the firm and help the organisation to choose the best among it, meeting its criteria. This will save time and effort for the organisation (Feng and et.al., 2014, April).
Step 3: Creation of a To do list: A creation of things to do status will help the organisation to tackle the wide range of operations and activities helping in the increment in the operational capacity of the firm. This will facilitate a good setting up of milestones and plan accordingly in order to gain a good control over the actions that are been taken in consideration by the organisation. Besides this, it will help in proper summarisation of