CDO351 Business Acumen Assignment SUSS Sample Singapore
In this course, you will develop the skills needed to turn strategies into positive outcomes for your organization. You’ll learn how think creatively and efficiently in order assess risks when making decisions about different business options or plans; become more aware of stakeholders’ engagement needs through understanding their priorities with time management techniques such as prioritizing tasks effectively so they can be completed on schedule without compromising quality workmanship . Finally we discuss conflict resolution capabilities which include learning methods like compromise negotiation etc., among others.
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This course is designed for beginner to intermediate level learners. You are not required to have any pre-knowledge but would be beneficial. Learners are not expected to know the subject matter perfectly, however they are expected to work hard towards understanding the topics discussed in this course. This couse is divided into 5 sections that includes learning materials and tasks that enable learners to learn and apply knowledge as they progress through the course.
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Assignment Task 1: Analyse risks and opportunities in global and industry trends and disruptions.
There are many risks and opportunities in global and industry trends and disruptions. For example, the rise of artificial intelligence (AI) presents both risks and opportunities.
- Increased competition from AI-enabled organisations
- Loss of jobs as AI automates tasks previously done by humans
- Unintended consequences of AI, such as accidental or intentional damage caused by machines that are smarter than humans
- Data privacy concerns as AI uses more and more personal data to make decisions
- Increased efficiency and productivity as a result of automation by AI
- Greater accuracy in data analysis due to machine learning algorithms
- Creation of new industries and businesses as a result of disruptive technologies such as AI
- More time to focus on value-added tasks as a result of automation by robots and machines such as driverless cars
As such, we need to come up with appropriate ways to harness the benefits of AI while mitigating its risks. We cannot ignore either the opportunities or the risks because one without the other is dangerous.
Assignment Task 2: Examine the impact of real-life business issues and plausible decisions.
There are many variables that go into assessing the viability of a company in a certain industry. Some, but not all factors include: revenue breakdown by product type, the number of customers the business has in relation to total customer base in an area or state, residential residential population growth in an area or state, non-residential constructions and inventories data for an area or state, unemployment rates for different demographics within a labor force areas affected by market changes based on demographic size and monthly turnover.
This assessment helps predict impacts from economic shifts at range of levels when considering what these could mean when it comes time to take action. For instance when oil prices decrease this can have great implications for people living paycheck to paycheck. In the past, this has led to an increase in bankruptcy filings. When oil prices are high it can cause people to have more discretionary income which they may use for gambling or traveling. This could lead to increased bankruptcies as well.
Assignment Task 3: Appraise the implications of business decisions on an organisation’s Triple Bottom Line.
When making business decisions, it’s important to consider how they will impact the organisation’s Triple Bottom Line.
The Triple Bottom Line takes into account environmental, social, and financial factors when assessing a company’s overall performance. So when making decisions that could have a negative impact on any of those areas, it’s important to weigh the consequences carefully.
For example, if a company decides to outsource its manufacturing to a factory in China that operates under poor labour conditions, that decision would have a negative impact on the social bottom line. Or if a company decided to drill for oil in an environmentally sensitive area, that would have a negative impact on the environmental bottom line. Obviously, there are many other factors to consider as well, depending on the type of company and the decision being made.
Assignment Task 4: Defend decisions made in real-life business situations.
There are a number of factors that go into making decisions in business situations, and it’s not always possible to make the “perfect” decision. In some cases, you may have to make a decision based on the information you have at the time, or you may have to choose the lesser of two evils.
If you’re faced with a difficult decision, it’s important to stay calm and carefully consider your options. Of course, there’s no one right way to handle every situation, but the following information may help you to put together a decision-making process that works for you.
The first step in making any business decision is developing an understanding of how it impacts your business or organization. For example, if you are faced with the choice of hiring a candidate, you need to understand how that decision will impact your organization from a financial and a staffing perspective. This information will allow you to make an informed choice about whether or not it is the correct decision for your company at this time.
Once you have done your research, it’s time to gather more information about the situation so that you can make an informed decision. Some situations are not urgent, allowing you to take your time and weigh all of the options available before making a choice. Other times, however, there may be more pressure to make a decision quickly in order to avoid negative consequences or meet tight deadlines.
Assignment Task 5: Recommend decisions drawing on an enhanced business acumen.
- How to train decision-makers. The key is to teach your staff how to make better decisions as a group, which is done by every member of the staff understanding both good and bad decision making. A “joint sensitivity analysis” can also be conducted for a particular pending opportunity or concept deal before any further commitment is made with you as a team exploring all outcomes with alternative assumptions and next steps in order to make a better, more consensus-based decision from that point forward.
- What are some advantages of having an enhanced business acumen? There are many advantages, including the ability to attract talented people at lower salaries because most potential hires know they’ll have access to high quality training among other assets that come from a business-savvy firm. This leads to a greater level of retention, which can increase a firm’s value through the lower costs of doing business and faster decision making based on the strength of consensus.
- How to measure return on investment in a professional service firm? It’s left up to your discretion what factors you want to include, e.g., hiring a new staffer vs investing in a new piece of equipment. For accounting firms, you can focus on benchmarks like gross revenue per partner (GRPP), net profit per partner (NPPP) and the growth in both over time; for law firms, GRPP is often closely tied with headcount while NPPP is often closer aligned to hours billed vs growth rates of both metrics year-over-year for a particular firm.
- What are some business resources that can help finance professionals? You can join your local CFA Society chapter to receive networking benefits, career development opportunities and quarterly newsletters/email updates on topics pertinent to your role. You also have access to their email listserv to discuss relevant topics with CFAs around the world at no cost.
Assignment Task 6: Plan negotiation stance for business decisions, with justifications.
When it comes to making business decisions, it’s important to have a clear plan and negotiation stance in order to get the best results. Here are three tips for negotiating in a business setting:
- Know what you want and be prepared to negotiate: Before entering into any negotiation, it’s important to know what you want and what you’re willing to compromise on. This will help you stay focused during negotiations and avoid getting sidetracked.
- Remain calm and assertive: It’s important to stay calm during negotiations and not let your emotions get the best of you. Likewise, be assertive and make sure your voice is heard loud and clear.
- Be willing to walk away: If you start getting sidetracked during negotiations or if the other party doesn’t seem willing to work with you, be willing to walk away. Sometimes this is the best way to get what you want and ensure that things stay on track .
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