Decision Making Technique

1403 Words3 Pages
bulb-icon

Recommended: Conclusion the importance of decision making

Importance of Effective Decision-Making Techniques

As any strategist can tell you, being anticipatory gives one a great competitive advantage. It is very important for businesses to complete a thorough analysis of any given situation in order to develop a solution. Picking the correct tool or technique is crucial to the success of a group searching for the best solution. There are important decisions being made each and every day. Some of these decisions will mean the difference of a corporation's success or failure and will effect the livelihood of those employed by or dependant on the corporation and its success. There are key questions that must be answered and obstacles anticipated in order to come up with the proper solution. Failure to make the right decision at the right time can mean losing business to a competitor and threatening the future of an organization. Tools and techniques for decision making help you to identify new opportunities, avoid being blindsided and turn potential threats into healthy prospects. There are many tools and techniques out there to pick and chose form. The choice is yours.

.

The Right Tool, or Technique, for the Job

There are many tools and techniques to help businesses ensure that the most productive solution is implemented. The technique that is being examined here is the Six Thinking Hats.

The Technique

The Six Thinking Hats is a technique developed by world renowned teacher of creative thinking, Dr. Edward de Bono. He has authored many books that establish new techniques for make possible creative and productive thinking in the workplace. The Six Hats, whose colors represent a different angle to viewing a given problem, help in guiding the thought process in a syste...

... middle of paper ...

...t a given situation or proposed solution. When used as intended, the Six Hats can help a group explore ideas become more productive allowing the participants to become animated. The Six Thinking Hats technique has helped many corporations develop sounder and more resilient plans and solutions than would otherwise be achieved.

Reference

de Bono, E., 2005. The Six Thinking Hats. Retrieved 6 August, 2005 from http://www.debonoonline.com/Six_Thinking_Hats.asp

De Peralta, M., et al, 2005. Decision Making Tools & Techniques. Six Thinking Hats. Retrieved 6 August, 2005 from http://members.tripod.com/careedpunkd

Mind Tools, 2005. Decision Making Tools, How to Make Better Decisions. Retrieved 7 August, 2005 from http://www.mindtools.com/

TeachNet, 2005. How To Manage. Retrieved 8 August, 2005 from http://www.teachnet.com/how-to/manage/sixhats120800.html

Show More
Related

  • Is Conceptual Critiques Relevant for Psychology?

    1463 Words  | 3 Pages

    Roy, B. (1993). Decision science or decision-aid science? European journal of operational research , 66 (2), 184-203.

    Read More

  • D. A. Re Essay

    780 Words  | 2 Pages

    The four simple steps taught me how. Making decisions will be significantly easier if I utilize the DDM. I know that the D.A.R.E. Decision Making Model will be beneficial to me even as I grow older and I am grateful that I have learned such a useful tool to implement in my life. D.A.R.E. has taught me useful techniques, tips, and strategies that will undoubtedly impact my actions in the future.

    Read More

  • Examining an Effective Decision Making Tool

    1108 Words  | 3 Pages

    One thing to remember when using any decision-making tool is to keep the end in mind. In other words when working through a process, visualizing the end result is Helpful. We must also remember that in every decision-making process there are a multitude of tools to help us along the way. No tool is really better then another, in fact most are made to compliment each other not as a soul solution to the process at hand.

    Read More

  • Business Decision Making

    783 Words  | 2 Pages

    Thinking critically and making decisions are important parts of today’s business environment. It is important to understand how the decision making process works and the steps involved. The nine steps of the decision making process are: identifying the problem, defining criteria, setting goals and objectives, evaluating the effect of the problem, identifying the causes of the problem, framing alternatives, evaluating impacts of the alternatives, making the decision, implementing the decision, and measuring the impacts. (Decision, 2007.) By using various methods and tools to assist in making important business decisions an individual can ensure the decisions they make will be as successful as possible. In this paper it will be examined how the decision making process can be followed using various tools and techniques to make successful business decisions by using these same tools and techniques during a thinking critically business scenario. The paper will also discuss how different tools and techniques could have been used to make different, yet still successful decisions.

    Read More

  • Organizational Life Cycle

    1245 Words  | 3 Pages

    Managers should be ready to teach the importance of decision-making skills and reinforcing organizational policy. Avoiding hasty, careless decisions, which can have devastating results on the manager's unit or the entire organization. Decisions made with forethought, using the many managerial tools available will lead to better and more profitable operatio...

    Read More

  • Decision Making Model Paper

    1046 Words  | 3 Pages

    The following is a decision-making model that I have used to arrive at a decision.

    Read More

  • The Importance Of Group Decision Making

    897 Words  | 2 Pages

    When an organization is looking for new creative ideas, they should ask their employees. The employees of the organization have an in depth look and are more understanding to the needs of the organization because it is where they work and are involved. Managers can call on a group of employees and together, they can come up with solutions for the organization. “Group decision making is a type of participatory process in which multiple individuals acting collectively, analyze problems or situations, consider and evaluate alternative courses of action, and select from among the alternatives a solution or solutions” (Group Decision Making, n.d.,para.1).

    Read More

  • Decision Analysis Reflection Paper

    733 Words  | 2 Pages

    The journey of my decision analysis learning process has been a roller coaster ride. While I enjoyed reading, understanding and learning about the various methodology and aspects of decision analysis, I also find myself stressed, frustrated and ready to give up. For me, the concept about what is decision analysis, the utility of decision analysis, and the topics on decision bias, ethics, complexity and controversy of decision analysis make sense to me as I understood what they are and how they can impact a decision making process. Quantitatively, while I enjoy experimenting and learning the R, Rattle and Excel Decision Tree Plan, statistically, I am frustrated as I am unable to come up with the correct answers when it comes to the quantitative models and calculations such as the probability matrices, binomials, conditional probability, and Markov modeling. Learning the functionalities and seeing an outcome from the R software and knowing what an excel can do to a set of data is intriguing yet exciting to me,

    Read More

  • Decision Making

    1261 Words  | 3 Pages

    An employee does an unsatisfactory job on an assigned project. Explain the attribution process that this person's manager will use to form judgments about this employee's job performance.

    Read More

  • Case Study Analysis: BlackBerry

    2292 Words  | 5 Pages

    McShane, Steven, and Mary Ann Von Glinow. Chapter 8: Decision Making and Creativity. PRIMIS MNO 6202: Managing Organizations. 2004. The 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' Reprint of the book.

    Read More

  • Rational Decision Making Model

    1620 Words  | 4 Pages

    According to the School of Information Sciences and Technology at Penn State University, the Rational Model of decision-making, “requires comprehensive problem definition, an exhaustive search for alternatives, and thorough data collection and analysis. According to this model, information exchange and communication are unbiased, and accurate decision alternativ...

    Read More

  • Decision Making Reflection Paper

    883 Words  | 2 Pages

    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.

    Read More

  • Thinking and Decision Making

    1478 Words  | 3 Pages

    This is one of the types of thinking styles. Creative thinking involves creating something new or original. It involves the skills of flexibility, originality, fluency, elaboration, brainstorming, modification, imagery, associative thinking, attribute listing, metaphorical thinking, and forced relationships. The aim of creative thinking is to stimulate curiosity and promote divergence. When an individual learns to expand their way of thinking to incorporate metaphorical ideas, they will spark the creative thinking process...

    Read More

  • The Importance of Critical Thinking to the Decision Making Process

    909 Words  | 2 Pages

    Effective decision making involves the ability to identify consistently and select the best choice among multiple options. This is true both personally and professionally. For the decision making process one may use a decision making model. A decision making mo...

    Read More

  • Essay On My Personality

    1319 Words  | 3 Pages

    Decision Making Insights. I will be most successful when I have all the information necessary for decision-making, as my dominant cognitive styles are planning and knowing. This approach does not leave room for ambiguity and stifles flexibility and creativity. Consequently, I thrive in established organizations that value hierarchy, procedures, and open communication, because they assist my natural cognitive processes. (Pearson Education, 2016)

    Read More

More about Decision Making Technique

Open Document