Decision Making Concept: Decision making is one of the most important aspects in life and work because of its strong link to success and effectiveness. Actually, successful people achieve their goals in life and work through effective and efficient decision making. The decision making process is usually guided by an individual’s beliefs, values, and attitudes as well concepts. While a person can use various concepts in making decisions, they should be very careful to select a concept that is effective and contributes to huge success. Nonetheless, these concepts exist to help an individual become a better decision maker in the world around him/her. Decision Making Concepts Resonating with Me: As previously mentioned, there are various decision making concepts that enable an individual to become a better decision maker in his/her daily life. One of these concepts that resonate with me as a decision maker is the WRAP model. WRAP model is a major concept because it enables a person to make his/her decisions through intentional illumination of strategic spots or points of consideration (Heath & Heath, 2013, p.24). In this case, the decision is not made on the basis of what ordinarily comes to a person’s attention but through examining hidden corners or facts. WRAP model basically involves widening options, reality-test of assumptions, attaining distance before deciding, and preparing to be wrong. The widening of options primarily focuses on expanding the set of choices through identifying new options and analyzing them. This is followed by asking craftier questions in order to filter the information and collect trustworthy ones. Since making a choice at this stage may result in a bad decision, the next step is to developin... ... middle of paper ... ...ividuals understand how their minds process auditory and visual information and potential biases that contributes to certain kinds of behaviors. As individuals become increasingly aware of their biases, they begin to question and examine them through rational decision making process in order to alter or improve their behaviors by making better decisions. In conclusion, decision making is an important concept in everyday life because it is linked to success and effectiveness in various situations. This process is usually carried out based on various concepts and models such as WRAP model. The ability of an individual to make the most appropriate decision in a particular decision is based on his/her ability to choose the best possible concept or process for decision making. However, one should not be rigid when using a particular decision making model or concept.
In everyday real life situations, one keeps on making various decisions depending on a number of factors. Thus, decision-making is an integral tool in human life, and one cannot avoid it. In view of this, experts report that individuals make use of varying decision-making models to arrive at a decision that suits them. Here, the writer presents four decision-making models, namely the classical, behavioral, satisficing, and optimizing models.
It has been noted from the text that our perception influences the thinking and decisions we make. It shows that choices differ because of the different understanding that individual have. In addition, our intuition is essential and at many times it provides us with guidance on how to make decisions. However, we can see that this intuition can be misleading at times and therefore the best thing is to evaluate the available evidence before making decisions. In my view decision making tends to have disciplinary across individuals. The best thing can be is to take time and individuals should not rush when it comes to making critical decisions. It is because of the outcomes that might be expected in the
This step depends on defining the right problem at the beginning of the process too create usable alternative to the objectives that will be used to make a decision. Identifying as many alternatives as possible will offer a wide range of possible solutions that can be used to make a decision. The alternatives selected should be the ones that will enable the decision made to achieve the objectives of the decision problem. Joan’s next step in the PrOACT decision making model is to understand the consequences and repercussion of every alternative identified. When she reaches this point of the PrOACT decision making model Joan can map the alternatives she selected for the objectives statement for her decision problem. At this point Joan can use decision matrix to identify the best alternative that can be used to accomplish the objectives of the problems she identified. The final step in Joan’s PrOACT decision making model is wrestling with trade-offs equalizing some alternative in order to apply the same weight when used in the decision making process. This is not a complex process but identifying similar items or process that can be weighted equally should be used when making trade-offs. This step involves identifying what will be given up by choosing one alternative comparatively to what will be given up by choosing another alternative for the decision that is being made.
Decisions can be made using below mentioned approaches (Various Types Of Decision Making Models, 2009).
The "Six Thinking Hats", created by Edward de Bono, is used to "look at decisions from a number of important perspectives." (Mind Tools.com). The method forces you to think "outside the box", to move away from your naturally engrained "habitual thinking style" while considering possibilities that may have never exited for you previously. (Mind Tools.com). This tool provides the user with a better developed multi-perspective on the problem being considered.
Decisions are produced using among two or more choices. We frequently think that the best decision maker is rational and makes persistent, value-maximizing decisions inside determined imperatives. These decisions take after a six-stage rational decision-making model: (1) define the problem, (2) identify the decision criteria, (3) allocate weights to the criteria, (4) develop the alternatives, (5) evaluate the alternatives, and (6) select the best alternative. (15th ed)
Decision making can be influenced by many factors. The way a person analyzes the problem can have an effect on his or her choice. Age can also influence a decision made based on experience of familiarity with the scenario. One should consider all the factors that are available in order to judge why someone made a certain decision. The way one frames a question has been noted to have effects on the decision of the participant.
Decision making, as taken from the Wikipedia (2006) encyclopedia, is defined as "the cognitive process leading to the selection of a course of action among alternatives. Every decision making process produces a final choice called a decision. It can be an action or an opinion. It begins when we need to do something but we do not know what. Therefore, decision-making is a reasoning process which can be rational or irrational, and can be based on explicit assumptions or tacit assumptions." (para.1). Decisions made by using a decision-making model typically result in better decisions. Decisions resulting from the model tend to be more consistent since the same steps are followed each time. Increased thoroughness of decision options considered is another benefit in using a decision-making model, as numerous factors are taken into account.
Having learned how decision-making occurs overall and in business, this section describes how business decisions have been ineffective when using traditional theories and styles. Research shows that leaders make poor decisions when using old-fashioned techniques. However, when practitioners apply academic decision-making theories and styles in real-world situations, leaders find these tools and methods cumbersome and irrelevant to decision quality and effectiveness (Yates et al., 2003).
Mind Tools, 2005. Decision Making Tools, How to Make Better Decisions. Retrieved 7 August, 2005 from http://www.mindtools.com/
As a manager, decision making is much more than simply making a decision. There are steps or methods he/she should take in order to evaluate the situation as well as the possible outcomes. This paper will discuss how managers can make ethical decisions and how they can remove any personal biases they may have. In addition, the paper will state how system one and two thinking affect business decisions and how a manager can keep these two types of thinking in balance. Furthermore, the paper will discuss how rational decision making affects negotiations, as well as suggested steps for a manager to negotiate properly. After, the paper evaluates creative problem solving and how it can help alleviate bounded awareness. Moreover, the papers state that the Kepner-Tregoe method guides a manager into assessing their decision and the risks associated with their decision. Finally, the paper discusses how overconfidence negatively affects a manager’s decision-making skills. After
During this paper I will explain my values, decision making style, personality type, and goals. Values play a big role in each individual’s daily lives from the day they was a small child to the day they pass away. Although, some people’s values differ does not mean they are less important. A person’s personality will explain how they interact with others, and their strengths and weaknesses. Using deciding styles can help you when making decisions. Also, by setting goals we are more likely to achieve them. Making a goal choosing SMART, we can determine the Specific, Measurable, Attainable, Relevant, and Time-Bound to develop a reasonable goal.
From a practical point-of-view, of the most important human skills is decision-making. Both at a personal level and in context of organizations, decision-making skill strongly affects the quality of life and success. Decision-making is the process by which a person or group recognizes a choice, gathers information, analyzes the data, and determines the best option to choose. The decision-making process employs high levels of critical thinking skills and problem-solving techniques. Decisions are guided by several factors, primarily the significance of the issue, the impact the decision may have, and the person's or group's morals and cultural norms. For less significant decisions that have little impact, people might not invoke the higher thinking skills that theorists expect (Decision-Making 2015). Flipping a coin, hoping for a miraculous sign, following the crowd, or by passing the responsibility to someone else are all means of making decisions. For more important decisions with greater impact, people often employ more advanced thought processes like those demonstrated in decision-making models by social psychologists and behaviorists.
Now we will consciously or unconsciously make decisions which we think are for the best for us, for the ones we care for, or for the society or organisation as a whole. In order to make wiser decisions we should know what contributes in making a good or a bad choice. We should know what all options are there available to us and mak...
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.