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Case study analysis
Conclusion the importance of decision making
Case study analysis
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Week 6 Page 1
Decision Models – Problem Analysis
LDSP: 6720 – Developing Effective Decision Models
July12, 2010
Week 2 Page 2
There are a number of different problem solving methods, techniques and styles, and the purpose of this paper is to review the analysis portion as it relates to the case study assigned to this week. Further, this paper will provide a critique to the solution of the case study problem which will include three distinct errors made in the problem solving phase. The errors were overcome, but not without much anxiety, lost time and heightened emotions.
The three errors, which all occurred at separate phases of the analysis, at times also were transpiring simultaneously, which compounded the effect of each one. Each was enough to throw the group off-track; the synergistic effect of all three almost doomed the team. It took an outside member (Joyce Luane) to see the detail that the others did not as a result of their error laded blinders. The three errors were allowing assumption to trump knowledge, or as Doug Smith relates it in his book Make Success Measurable (1999), the “I already know that!” approach when looking at and reviewing details and facts. Smith asserts that the Knowledge versus Assumption error is one of the most widely committed mistakes organizations make when performing analysis, setting objectives and outcomes and establishing performance measures. It is such that we make the assumption we know all there is to know with what is right in front of us, and that we do not need to analyze whether it is the intuition voice in our head or the harder to get at facts, circumstances and details that take ever so long to compile. In fact, what...
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...he Seven Habits of Highly Effective People. Covey Leadership Center: Provo.
Decision Dynamics. (2010). Decision Dynamics Assessment System.
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Gary, Loren. (1997). Problem Solving for Decision Makers. Harvard Management Update.
Harvard Business School Publishing. 1997.
Luft, J. and Ingham, H. (1955). "The Johari window, a graphic model of interpersonal
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Matheson, D. and Matheson, J. (1998). The Smart Organization-Creating Value Through
Strategic R&D. Harvard Business School Press: Boston.
Smith, D. (1999). Make Success Measurable. John Wiley & Sons: New York.
Stryker, P. (1965). How To Analyze That Problem: Harvard Business Review on Decision Making. Harvard Business School Press: Boston.
WinWinWorkplace. (2006). Making Collaboration Work. WinWinWorkplace.com.
Thompson, Arthur, John Gamble, John Gamble, A. III, and Alonzo Strickland. Strategy. McGraw-Hill/Irwin, 2005. 299. Print.
“The value of the next best alternative foregone as the result of making a decision”(Brue, 2005)
Companies. Retrieved July 4, 2008, from University of Phoenix, MMPBL-501 Web site. University of Phoenix . ( 2008). Economics for Managerial Decision Making
Badaracco, J. . Defining moments, when managers must choose between right and right. Harvard Business Press, print.
"In the day to day business of organizational life, decision making is seldom the logical, rational, systematic process suggested by the management textbooks. It does not unfold in identifiable stages where a problem is defined, alternative solutions are generated, the alternatives are weighed against a known criterion, and a choice is made (1998, p. 50)."
Making business decisions involves choosing between alternative courses of action. Many factors affect business decisions, yet analysis typically focuses on finding the alternative that offers the highest return on investment or the greatest reduction in costs. Some decisions are based on little more than an intuitive understanding of the situation because available information is too limited to allow a more systematic analysis. In other cases, intangible factors such as convenience, prestige, and environmental considerations are more important than strictly quantitative factors. In all situations, managers can reach a sounder decision if they identify the consequences of alternative choices in financial terms. This unit
Life is full of decisions. Some decisions are trivial. Should I choose paper or plastic at the grocery store? Which of the 31 flavors of ice cream should I pick? Other decisions are vital. Should I get married to her or should I take this new job? Your decisions may affect many people or only yourself. In this paper I will present a decision-making model. I will describe a decision that I made at work using this model and how critical thinking impacted that decision.
Problem-solving approaches presented by Takahashi, Adler et al. and Ruffolo et al. have six similar steps. They all include steps of identifying the problem, analyzing the problem, coming up with some solutions, evaluating the solutions, implementing the solution in action, and evaluating the outcome of the solution. Three approaches all give a useful procedure to solve a problem in group.
Therefore, to achieve this objective, managers have to make choices in decision-making, which is the process of selecting a course of action from two or more alternatives (Weihrich & Koontz; 1994, 199). A sound decision making requires extensive knowledge of economic theory and the tools of economic analysis, that are directly related in the process of decision-making. Since managerial economics is concerned with such economic theories and tools of analysis, it is very relevant to the managerial decision-making process.
Langdon, K. (2001). Smart things to know about decision making. Retrieved December 9, 2007, from eResourse.
Problem-solving help the students to create their own representation or illustration (De Corte, Vrerschaffel, De Win 1985; Hegarty, Mayer, Monk, 1995; Pape, 2003) based on how they interpret or understand the given problem (Pape, 2003; Van der Schoot, Bakker Arkema, Horsley, Van Lieshout, 2009). Problem-solving also tests their critical thinking skills on how they look for another strategy or ways to solve the problem easier. Problem-solving helps the problem solver to develop characteristics of a good problem solver which includes open-mindedness, optimistic, persistent, not afraid to commit mistakes and systematic person since he is following a certain step in solving the
This paper will focus on the Rational Model for decision-making. The first section will describe the Rational Model for decision-making. It will identify all the steps of the Rational Model and what they entail. The second section will detail a recent job-related issue I was involved with. I will discuss the issue and show how the Rational Model of decision-making was effectively utilized to reach a decision.
“Decision making is a process of first diverging to explore the possibilities and then converging on a solution(s). The Latin root of the word decision means "to cut off from all alternatives". This is what you should do when you decide.” (Kotelnikov, 2008). In fact, the decision making process helps reduce doubt and uncertainty about alternative choices to allow individual to choose the best reasonable choice. In addition, the decision making process can make the difference between a successful and an unsuccessful organization. Consequently, management tries to use the best techniques and tools possible to make the best decision. Nowadays, most organizations seem to think that they have the most effective and efficient decision making process. So what are the different styles of decision making processes have organizations implemented? In order to answer this question, the team members will investigate and observe the decision-making processes most prevalent in their organization. As a result, these papers will first compare and contrast the problem identification and formulation styles in the team members’ organizations. Then the most favorable aspects of each style will be discussed to describe a process by which a problem can be identified and described to stakeholders in a manner that is sensitive to their perspective.
Theiman, LeAnn. How to Overcome the 10 Biggest Mistakes in Decision Making. n.d. Web. 19 Feb 2014.
As previously mentioned, potential problem analysis or potential opportunity analysis was developed and introduced by Charles H. Kepner and Benjamin B. Tregoe as part of their initiatives to identify a suitable approach for problem-solving initiatives. Their work culminated in the publication of a book containing the problem-solving approach they had created, which included the