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Speach about decision making
influence of pressure groups
Rational Decision Making Model by cocacola
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Introduction The decision is to select an action among a number of actions that solves a given problem, that prevents a problem from happening, or that forces to apply new ideas for development. The need for understanding decision making process is increasing because the complexity of modern organizations is increasing, and because the modern organizations' effectiveness depends on the decisions made by the managers. The question is how to select the most appropriate action to solve the problem satisfying all stakeholders. Many methods have been developed to simplify the decision making process. In this paper, the rational model of decision making will be discussed first. Then, some of the factors that cause deviation in the rational model will be clarified. Rational Model of Decision Making Process The reason of discussing this model of decision making process first is because this model is considered the ideal method of making decisions for the organizations. It assumes that individuals usually maximize entrepreneurs, and that the decisions are accomplished by a step-by-step procedure which is both logical and linear. To make a decision according to this model, it is necessary to start from the beginning by collecting all related information . Then, this information has to be analyzed and then all solutions are suggested. These solutions are then analyzed and all of the negative and positive outcomes of each of them are considered according to criteria for comparing these solutions to finish with the best decision. The rational model does not put any limits for time or cost needed to reach the ultimate goal. Its main purpose is to come up with a decision that would maximize the profit, and that would comply other pre... ... middle of paper ... ...beliefs of the group, to make sure that will not disrupt the consensus of the group as a whole. This pressure often takes the form of urging the dissident member to remain silent if the one cannot match up one's own beliefs with those of the rest of the group. Type of leadership skills and practices can lead to the deviation of the rational model of the decision making process. The group pressures the help to maintain a group's illusions are sometimes fostered by various leadership practices, some of which involve subtle ways of making it difficult for those who question the initial consensus to suggest an alternative and to raise critical issues. The group's agenda can readily be manipulated by a suave leader, often with the tacit approval of the members, so that there is simply no opportunity to discuss the drawbacks of a seemingly satisfactory plan of action .
According to Schermerhorn, Osborn, Uhl-Bien and Hunt (2012), "it used to be that group work was confined in concept and practice to those circumstances in which members could meet face to face” (p.151). Rational Decision-Making is a five-step process that starts with recognition and definition of the
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 which they exist (Turner & Dean, 2008). In order to understand the process of making a sound and good decision, it is necessary to define and understand several decision-making models. These models help to make clear the issues to be addressed and the goals that need to be obtained before a final decision is made. This paper will discuss the zero sum game, win-win, satisfying solutions, and the fixed pie models.
Considering many factors, I decided that the Ethical Decision-Making Model was the best choice for me when it came to job-related decision-making. I feel that by using the Ethical Decision-Making Model I was able to maximize my opportunity for a successful outcome.
Before embarking upon this assignment, I never thought much about "Decision-Making Models." In fact, I was somewhat surprised at the sheer number of models I stumbled upon in my research. A quick look at Wikipedia (http://en.wikipedia.org/wiki/Decision_making) shows that, for business applications alone, there are well over a dozen decision-making models to suit any need. Without being cognizant of the fact, the decision-making process at my current work site closely resembles the "Pros & Cons Model."
The following is a decision-making model that I have used to arrive at a decision.
In our everyday lives we must face a number of decisions, whether it is something simple like what clothes to wear or a major ethical decision that can have a large impact in one’s life. We may not realize this but with every decision we make there are a number of factors that help determine our decisions. According to most psychologists the decision-making process involves recognizing, evaluating, deciding on, and executing an action to resolve the dilemma (Lincoln, S., & Holmes, E. K., 2010). While this decision process is occurring there elements, both internal and external, that are influencing our final decision. As we know our internal and external experiences, such as our morals and the people around us, mold the way we see things and think about certain aspects of life. As a result these aspects unconsciously help us determine what decisions we make on an everyday basis. .
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
Hitting roadblocks and problems while attempting to accomplish a task or while conducting business is a fact of life. Managers and leaders have numerous responsibilities and decisions that they face each day during the normal course of business. Some of these decisions are small, such as delegating a task to an appropriate subordinate. Other decisions are large, such as formulating a strategy that can affect the lives of thousands of employees within the organization and companies up and down the supply chain. Regardless of the size of the decision, in our increasingly complex and interconnected world, it is critical that managers have the necessary skills to recognize and identify what the problem is, as well as having command of the tools
Rational decision making is one of the most common problem solving methods and can be used to solve almost all problems. Rational decision making and problem solving processes can be explained in a logical manner. Effective leaders use rational decision making processes to identify the problem, think up solutions, evaluate alternatives along with select a solution, implement and evaluate the final solution. In rational decision making leaders analyze the problem to achieve the most efficient choice through different possible alternatives from different scenarios before making a selection.
Decision point is continuously yielding to the pressures of environment. It is taking advantage of new developments as they occur. It is always adjusting to the state of affairs. It is treading a narrow path between too much action and too little. It is always attempting to adjust towards the desired goals. The amount of action is some function of the discrepancy between goals and observed system status. Let us take an example of very frequently used illustration in materials production pertaining to inventory models. The status of inventory is linked with the production, distributors and retailers. A demand function has been specified in order to generate the orders from the ultimate customers. At each
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.
Making decisions is an important part of our everyday life. Decisions define actions and lead to the achievement of goals. However, these depend on the effectiveness of the decision-making process. An effective decision is free from biases, uncertainties, and is deeply dependent on information and critical thinking. Poor decisions lead to the inability to achieve set objectives and could lead to losses, if finance is a factor. Therefore, it is important to contemplate about quality and ways to achieve it in decision-making, which is the focus of this paper. The purpose is to look into the needs of decision-making, including what one should do and what one should not do.
Decision making is a process of choosing from two or more alternatives. A good decision is the one which is consistent logically with all the information one has. A good decision is the one that incorporates all the possible alternatives (Shepherd, & Rudd,2014). A good decision can be taken when one considers all the probabilities associated with the alternatives and considers all the likely outcomes of all the alternatives. Decision- making process consists of some steps. The first step is to identify a problem. It is important to identify the exact problem before considering all the alternatives. The second step is to identify a decision criteria. The third step is to allot weights to the decision criteria. The fourth step is to develop alternatives. The next step is to analyze the developed alternatives. The last step is to implement the alternative. During the entire decision-making process, it is important to evaluate the effectiveness of the decision. There can be two approaches to making a decision- rational approach and an emotional approach (Lerner, Li, Valdesolo, &
Some decisions prove to be vital and any miscalculation that may be involved may prove dire for the individual or the organization. In identifying the criterion to use while evaluating different decisions, many factors pertaining the structure should be considered. The pros and cons of every decision made should be evaluated to ensure that the option chosen has the most positive effect on the individual and the organization. Some of the activities that may require keen decision making include project development, finance and operations. With the knowledge attained it will be easier to cope with tough decisions that may come up in my career. Decision making models may be generated to give an in depth view to the problem and also provide critical analysis ability. It is also vital noting that for those in managerial positions, they face a bigger task in decision making. A good understanding of the business function and structure will provide an in depth knowhow to those that have studied the
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.