Week 4 discussion response- managerial finance | Management homework help
Week 4 Discussion Response- Managerial Finance Lakenya86Colleague 1 Lydia Alobwede Evidence-based decision making (EBDM) emphasizes using reliable data, stakeholder input, and professional expertise to guide organizational choices (CEBMa, 2017). In contrast, decision-based evidence making occurs when leaders choose a path first and then search for evidence to justify it (Tingling & Brydon, 2010). I have experienced both approaches in practice, and the outcomes were notably different. My Professional Experiences In a previous role, my team used EBDM to plan a project under a strict schedule and budget. We analyzed historical velocity data, team capacity, and internal survey feedback to determine how much work to commit to each iteration. This evidence-based approach enabled us to complete the project on time and within budget. In another instance, my team decided to switch courier vendors due to frequent delivery delays. However, we made this decision before gathering performance data on the new vendor. Only afterward did we learn that the new vendor had similar issues, which prolonged delays and reduced throughput. This reflected decision-based evidence making and led to preventable inefficiencies. Comparison of Outcomes Using evidence in the first situation resulted in accurate planning, improved predictability, and stronger stakeholder confidence. In contrast, the lack of evidence in the vendor decision created operational setbacks and eroded trust. While decision-based evidence making may offer speed, it often increases risk and leads to suboptimal outcomes (Tingling & Brydon, 2010). EBDM, though more time-intensive, produces more reliable and sustainable results. Promoting Positive Social Change Through EBDM