Type of paper: Essay

Topic: Decision, Decision Making, Model, Situation, Business, Style, Criteria, Experience

Pages: 2

Words: 550

Published: 2020/10/21

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DECISION-Making

Decision-making is an important process. It can be a task, which needs a simple decision to be made or a difficult situation involving several issues. In difficult situations, there may be uncertainty and complexities, wherein there may be interrelated factors that could lead to high-risk consequences, the impact of the decision made could be very important. Every situation will have its own set of uncertainties and consequences. Interpersonal issues too come in the way of making an effective decision, as it is difficult to predict how people will react to different situations.
If there is an effective process, even complex decisions can be made efficiently. Logical processes would lead to consistent and quality decision making. In order to make a decision, information has to be gathered. Plans should be made and past experiences should be considered. If past experiences show that the plan would not work, it is not good to go with that idea. When a plan is formulated after considering past experiences and with a strong sense that it would work this time, it would work. If it doesn’t work the plan is changed and a new one is formulated. Ideas and plans keep changing before a final decision is made.
A Decision model is a tool that is used to perceive, organize and manage business logic behind a business decision. The decision model helps in providing a framework for organizing business rules into well-formed decision-based structures that are predictable, stable, can be maintained and normalized. Moreover, the decision model correlates directly with business logic and used, as a tool to meet changing business objectives and marketplace demands.
Decision making style on the other hand largely depends on the decision maker’s personality, the situation and the overall nature of his or her decision-making strategy in a given situation. The type of information required for a decision influences the choice of decision-making style. The cognitive style of the decision maker is related to the decision-making style (Li, 2005).
The recognition primed decision-making model was developed by Gary Klein in 1985 in order to study the decision making of the army and fire fighters while making their decisions. It was found that these decision makers did not compare options but revised the whole project. They called it the recognition primed decision-making model, wherein the decision maker will pick up cues and indicators that allowed them to recognize patterns. They generally chose a single course of action that they considered would achieve the outcome. This was done without comparing with any other option and only with the thought process of the decision maker. This was based on the mental models of the decision maker developed through his experience and knowledge.
When people are experts in their chosen field, they gain sufficient experience to recognize patterns. This gives them options and usually the first options they choose tend to work. Their rapid decision making skills through the recognition primed decision-making model makes them experts. According to Klein, the use of intuition along with rational decision-making will help in recognizing situations and decide if the idea is appropriate for the situation. However, intuition may not work for all and will work for some situations.
The most common decision making models are Rational and Intuitive models. There are other models too, but the above two are by far the most popular. The Rational models are those that involve a thinking process with various options and are rated with regard to their advantages and disadvantages. The option that provides the highest score is considered the most optimum. There are good decisions and bad decisions. Each one seems difficult, as there is more than one choice. As there are a lot of choices, there is conflict as potential and attractive choices have been eliminated. It is important to evaluate a decision and the criteria to use it.
Many popular decision making models have been adapted from this idea and there are 5, 6 and 7- step decision making processes like the SWOT analysis, Pareto Analysis, Critical Path Analysis and the Decision Trees. The Decision Matrix Analysis is used to evaluate and prioritize a list of options against a list of criteria. The highest-ranking option, which results from this, is considered the best solution. The SWOT Analysis on the other hand, examines, the strengths, weaknesses, opportunities and threats and draws it out in a 2x2 matrix so that it lists out the advantages and disadvantages. Though individuals can use this model, it is often used by organizations along with other models (Frederick,2005).
These rational models are popular as it gives great importance to thinking. They are also popular as they are easy to teach and learn. The Rational Model is the most appreciated model as it is a cognitive process that takes a logical path by weighing the pros and cons and comes up with the best result. In the rational model, the situation and the decision to be made are defined, and then the important criteria to process and get to the result are identified. To get to the bottom of it, all possible solutions are considered. The consequences that might arise from these solutions and then if it would satisfy the criteria, is then calculated and then the best option is chosen (Li, 2005).
The rational decision model suggests that there is only one best outcome. This is the reason it is called an optimizing decision making model. One of the limitations of this model is that it questions the cognitive abilities of the person who is making the decision, as to how effective their memory is and how good their imagination. This however, requires a lot of time and information and it denies the existence of emotions in decision-making. There are pros and cons to every decision-making model. However, it is a natural process that works. The disadvantages are that everyone does not practiced by everyone. People tend to ignore feedback and also do not seek feedback. As a result they do not gain sufficient experience in decision-making. The experience of experts in the field is not taken into account.
“The roads we take are more important than the goals we announce. Decisions determine destiny,” said Frederick Speakman. This will be apt for rational models as it is a sequential process and goal oriented. The steps involve a thinking process and based on logic. Once the goal is determined, the next logical sequence would fall into place thus determining the decision-making process. Having a decision-making process is very important in order to reduce stress, money, time and effort.

REFERENCES

Frederick, S. (2005). Cognitive reflection and decision-making. Journal of Economic perspectives, 25-42.
Li, D. F. (2005). Multiattribute decision making models and methods using intuitionistic fuzzy sets. Journal of computer and System Sciences, 70(1), 73-85.
(Frederick,2005).

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WePapers. (2020, October, 21) Decision-Making Essay Samples. Retrieved September 16, 2021, from https://www.wepapers.com/samples/decision-making-essay-samples/
"Decision-Making Essay Samples." WePapers, 21 Oct. 2020, https://www.wepapers.com/samples/decision-making-essay-samples/. Accessed 16 September 2021.
WePapers. 2020. Decision-Making Essay Samples., viewed September 16 2021, <https://www.wepapers.com/samples/decision-making-essay-samples/>
WePapers. Decision-Making Essay Samples. [Internet]. October 2020. [Accessed September 16, 2021]. Available from: https://www.wepapers.com/samples/decision-making-essay-samples/
"Decision-Making Essay Samples." WePapers, Oct 21, 2020. Accessed September 16, 2021. https://www.wepapers.com/samples/decision-making-essay-samples/
WePapers. 2020. "Decision-Making Essay Samples." Free Essay Examples - WePapers.com. Retrieved September 16, 2021. (https://www.wepapers.com/samples/decision-making-essay-samples/).
"Decision-Making Essay Samples," Free Essay Examples - WePapers.com, 21-Oct-2020. [Online]. Available: https://www.wepapers.com/samples/decision-making-essay-samples/. [Accessed: 16-Sep-2021].
Decision-Making Essay Samples. Free Essay Examples - WePapers.com. https://www.wepapers.com/samples/decision-making-essay-samples/. Published Oct 21, 2020. Accessed September 16, 2021.
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