Decision Making: The Importance Of The Decision-Making Process

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One common activity to all managers is making decisions, this process of choosing a course of action among different alternatives. Whom to hire? Where to expand? Should we grow? All decisions do not have the same weight but each of them has a unique set of factors which need to be evaluated. Then how to make the right decision? Decision-making is a field of great interest in areas such as psychology, management, neuroscience, robotics and even economics, and there are countless models and software for simulating the human mind. Even though the decision-making process depends on the importance of the decision, it exists also many theories regarding these daily activities. Among them, some catch our attention such as the rational decision making …show more content…

To resolve a problem and implement a rational decision-making process, the gap between the current and the desired state must be enough to motivate the decision makers to exert the energy necessary to solve the problem. After identifying a problem, this one needs to be defined then. This can be a difficult step as individuals often identify symptoms of a problem but sometimes fail to identify the actual cause if the issue. People often make decisions too quickly and without considering all available …show more content…

Specific standards need to be set to guide our decision-making process.
The third step consists of weighting these criteria. Each is unlikely to have the same level of importance. To weight them, the decision maker can either use an absolute comparison or relative comparison. (Williams, Champion & Hall, 2011). The absolute comparison is used to compare items point by point. A ranking system with a scale from 1 to 10 can be used to evaluate the significance of the criteria. The relative comparison involves comparing each criterion with another to obtain an understanding of which are the most important.
The next step is generating alternatives. as many as possible should be listed without evaluating them. The more possible options are generated, the better the likelihood to come up with an effective solution to our

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