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Articulation of problem

We should ask those who have the answer when we have doubts. During this week's decision-making process, we have been wondering how much we can have per week, and we use the cash flow in our earnings report as our available funds. But we are always confused by seeing our extra interest income in the next week's earnings report, because we should spend almost the same amount of cash. This week, we found that we made a mistake, we used the opening balance as all cash flow.

Analysis of problem

We have always had this question but never thought about solving this doubt. I think there may be two reasons. First, our market performance at the time was very good, and there was no big capital demand, so this matter is not urgent or serious. Second, we think that our ideas are not wrong, just like we don't know what we don't know.

Theory

This problem arises mainly because we lack sufficient knowledge and practice, and we don’t have enough problem reflections, because before we make every good decision, sufficient correct information, related actions, and comprehensive thinking are critical.

Action

Because it is close to the end of the semester, our solution to this problem is, first of all, when discussing the team meeting, what is wrong with us is not certain to be correct now. If found, then the first time to ask people with this knowledge, like It is peter. Second, I got the answer. This is a good decision-making action that the discussion decides we have to do about this new information. Finally, check all the decisions to determine the good decision.


Reference:

Barbara, O., Richard M., F., Rebecca, B., & Imad, E. (2004). Turning student groups into effective teams. Journal of Student Centered Learning2(1). Retrieved from http://owww.brookes.ac.uk/services/ocsld/group_work/turnin_student_groups_into_effective_teams.pdf

Hammond, J. S., Keeney, R. L., & Raiffa, H. (1998). The hidden traps in decision making. Harvard Business Review76(5), 47+. Retrieved from http://link.galegroup.com.ezproxy.auckland.ac.nz/apps/doc/A21114518/AONE?u=learn&sid=AONE&xid=a9c18574


2 Comments

  1. Heya Hao, 

    It's good that you recognise what is going wrong, thats the first step in finding a solution. I would recommend using in-text citations for your references, it will help with your summative learning journal to know exactly what parts have come from a source. More in-depth reflection about causes, consequences, and how it made you feel will help you in writing the summative learning journal also!

    Best of luck mate (smile) 

  2. Hey Hao, 

    You had a pretty articulate learning journal and it was a great read, I do like that you have pin-pointed the problem and no what to do from there, there can be an improvement on In-text citations for you to know where each theory is coming from for your summative journal! Other than that it was a great read! 

    Good Luck for the rest of the weeks!