BUMGT5980 – Managerial Decision MakingAssessment Task 3 – Solution ApplicationDue date: Week 7 (or on the date advised by the course lecturer)Word limit: 2000 words excluding reference list and appendicesWeighting/Value: 30%Format: Report (e.g., arranged in sections using a professional approach – as would be applied in the workplace)In this assignment you are expected to follow the problem solving stages (start with course Topics 1-3) to identify a specific problem, generate and evaluate solutions and devise an implementation plan.You should take some time to identify a problem suitable for this assignment. This may have been, say, a past problem you’ve encountered at work, a situation reported in the media or a case study based on a fictitious scenario. Your task is to address this problem in a new way by application of tools and methods starting with those enunciated by Wood et al. (2009). Four more (at minimum) academic references should be cited in the report.Specific tasks or report elements:1. Problem background2. Problem definition3. Solution generation4. Solution evaluation5. Implementation and action planMarking criteria – Items listed below do not necessarily carry equal weight:Poor Adequate Good Very good ExcellentGeneral criteria: Structure – appropriate, professional, and accessibleProcess – reasoned, coherent and consistentSolution – original, compelling, and justifiedApplication of appropriate tools and techniquesProfessional presentation including referencingSpecific criteriaProblem identification – validity and claritySolution generation – creativity and scopeSolution evaluation – logical and practicalImplementation – relevant issues consideredAction plan – consistent, rational, and succinctNotes:1. You should provide in the report a statement that specifies in clear and succinct terms the problem that is to be addressed.2. The problem should be specific. To ensure this, the problem is likely to focus on or at an organisation’s operational level rather than at the more broad strategic level of operations.3. A review, detailed description or theory-based evaluation of problem solving or other tools or concepts is not required. This assignment requires application only of the tool to assist or direct the problem solving process. Nevertheless, the limitation of applied tools may be accounted for in the report with regard to the efficacy of the chosen solution.4. A clear solution to the problem (see note 1 above) is required. This chosen solution is to be specified within a plan with the assumption that this plan will be implemented by the organisation at a later point.5. Submit the report as a word document. Use left justified (not centred!), 12 point font and 1.5 spacing. The reference style is APA. Marks may be deducted where this criteria is not met.6. Headings, figures, tables and diagrams where appropriate are encourage