Decision Making Models Essay example - 483 Words

Rational Decision-Making Model Most individuals are faced with situations that necessitate excellent decision-making abilities. Determining the suitable course of action to take when faced with a difficult dilemma can be a challenge. Due to the importance of the decision-making process, decision-making models can be used to establish a systematic means of developing effective decision making. One of the models has been called the quot;rational modelquot; of decision making (Stoner amp; Freeman, 1989). The steps laid forth below are listed as the seven steps of the rational model. The first step of the rational decision-making model is to define the problem, the need, or the opportunity. Although this may seem either petty or apparent,†¦show more content†¦This can happen because the technology decision is dictated from a higher organizational level or because the new technology is perceived as the latest quot;thingquot; being used by quot;everyone.quot; It is at this point in the process that technological gatekeepers become valuable. Information must be gathered from vendors and other users, at trade shows and from the trade and more academic publications. If you do not fully explore and become aware of your options, you cannot make an optimal decision. nbsp;nbsp;nbsp;nbsp;nbsp;After having clearly defined the problem, need, or opportunity and then gathering and exploring all of the relevant information and alternatives, you must then evaluate the information and the alternatives and anticipate the consequences of the various options open to you. It is very helpful at this point to establish objective criteria against which to compare the alternatives. This is also the point at which you need to establish the operational criteria against which you will measure the success or failure of the choice once implemented. nbsp;nbsp;nbsp;nbsp;nbsp;The fourth step is to select the best solution based on the evaluation and analyses conducted in step 3. Once the first three steps have been completed, this step should be relatively straight-forward. These four steps form the core of the rational decision-making method. nbsp;nbsp;nbsp;nbsp;nbsp;The last three steps are implement the chosenShow MoreRelatedDecision Making Models Of A Model Essay1551 Words   |  7 PagesDecision making models come in countless arrangements and complexities. In gathering examples of existing models, I understood the significance of personalizing a model to my own preferences and use. A tailored decision model creates an opportunity to provide a distinct structure that promises greater success in using it on a daily basis for myriad types of decisions, both small and large. The model I configured comprises six stages in the process. I chose to begin my model with the task of recognizingRead More Decision-Making Models Essay798 Words   |  4 PagesDecision-Making Models   Ã‚  Ã‚  Ã‚  Ã‚  There are several decision-making models to choose from in any given situation. Some of these models available on the Internet are the Responsible Decision-Making Model, the Ethical Decision-Making Model, the Ethics Toolkit PLUS Model, the Vigilant Decision-Maker Process, and some basic ones as well. In general, all decision-making models are the processes we use to make well-thought out decisions. There are three major elements of all decision-making models. TheseRead More Decision-Making Models Essay982 Words   |  4 PagesDecision-Making Models Negotiations and decisions are a part of everyday business. In order to make a successful decision, it is necessary to understand how to make rational and sound decisions. Decisions that are rash, made on snap judgments, and past experiences can prove detrimental to a business. A deficit in basic thinking and decision making is felt at all levels of an organization (Gary, 1997). Decisions can have long term and short term impacts on organizations and their world in whichRead MoreThe Rational Decision Making Model1066 Words   |  5 Pageswe do the most. All of these things, both small and large require a process that is commonly referred to as the decision making process. Decisions make up every aspect of our daily lives that is remotely imaginable. One of the most common decision making model is called the, rational decision making model. The first step in the model is to construe the problem or the actual decision to be made. Then, you will identify the information needed for the process to go forth. After that, you will weighRead More Decision-Making Models Essay959 Words   |  4 PagesDecision-Making Models General assumptions create the foundation of a persons reasoning. Imperfections with a supposition can create the opportunity for a skewed perspective in a persons reasoning process (Paul Elder, 2002). The process of choosing one course of action over another is commonly known as decision making. Consciously or unconsciously, people make decisions on a daily basis founded on one or more of the various decision-making models (Sullivan, n.d.). This paper examines how IRead MoreRational Model Of Decision Making1287 Words   |  6 Pagesand will be understood by every employee. The first step within the rational model of decision making is to identify the problem or opportunity at hand. This can be anywhere from customer compliments to turnover of staff or mergers that can take place to hiring a new top executive. This stage is all about making improvements and diagnosing them in the proper way. The second step within the rational model of decision making it to think up alternative sol utions. This can be either obvious or creativeRead MoreThe Organizational Model Decision Making1522 Words   |  7 Pages The Organizational Model decision-making process is another that this writer found most useful in this course. Its general characteristics make use of programmed decisions that are usually used well-structured patterns of search but use simple rules of thumb as well as analytical frameworks which are determined by the complexity of the decision to be made. Organizations often make decisions that are optimal to their local sphere, but may not be optimal in the larger totality and is constrainedRead MoreThe Ethical Decision Making Models1576 Words   |  7 PagesEthical Decision-Making Models Decision-making in the field of psychology refers to a cognitive process that results in a selection among multiple possible solutions in a situation (Colman, 2008). Decision-making is based on available information from the environment as well as intrinsic information and existing schemas (Rogerson, Gottlieb, Handelsman, Knapp Younggren, 2011). These internal schemas, along with knowledge and personal preferences, influence the decision-making process. EthicalRead More Decision Making Model Essay854 Words   |  4 PagesDecision Making Model Abstract   Ã‚  Ã‚  Ã‚  Ã‚  Decision making models can be very effective in problem solving. Scheduling is a big problem at Direct HomeHealth Care and a solution needed to be found. Scheduling software which can be very expensive was the only conclusion that could be reached. With much thought and analysis a resolution was reached with critical thought and a decision making model from the Small Business Development Center. Decision making models can be very helpful in analyzingRead MoreClassical Model of Decision Making2120 Words   |  9 PagesBusiness and Management June, 2008 The Classical Model of Decision Making Has Been Accepted as not providing an Accurate Account of How People Typically Make Decisions Bin Li Foreign Languages Department, Guang Dong University of Finance Guangzhou, 510521, China E-mail: viclee_0221@163.com Abstract Decision making is an accepted part of everyday human life. People all make varying importance decisions every day, thus the idea that decision making can be a rather difficult action may seem so strange