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Describe the steps in the decision making process essay examples
Decision making process in management
Decision making process in management
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Problem solving and decision-making are fundamental in all managerial activities. Although these defining characteristics of management can be used interchangeably, current literature makes a comprehensible delineation between the two. Problem solving can be defined as a mental process and is part of a larger process that begins with identifying the problem and ends by assessing the efficiency of the solution. Decision-making is also considered a mental process and identifies several alternative scenarios before making a final selection. For the purpose of this analysis, I will discuss the similarities and differences of problem solving and decision-making. I will also explain the steps of the decision-making process and discuss the different decision-making approaches. The problem solving and decision-making processes are commonly used in management throughout all business models. Both processes share a similar uniqueness by combining an analysis and perception along with systems and outcomes. Much like the steps of the decision-making process, problem solving also follows a similar sequence of steps. Despite the fact that problem solving and decision-making are somewhat related, they are completely different. The main difference between the two is that problem solving is considered to be a method whereas decision making is more of a process. Management uses problem solving to reach a resolution with hope of achieving a positive outcome. Decision-making is frequently used during problem solving to help reach a resolution. Decision-making generates criteria for problem solving and develops alternative solutions. It also evaluates possible solutions and chooses from among the solutions (Huitt, 1992). Since problem ... ... middle of paper ... ...s go about making judgments and choices. Both theories play an intrinsic role with behavioral decision making and have proven to be successful approaches for management (Shanteau, 2001). Management will continue to encounter new challenges that require problem solving and decision-making strategies. Some problems may be easily resolved while others could take much longer depending on the complexity of the problem. In order for management to make effective decisions and achieve success for their businesses, the decision makers need to have adequate knowledge of the situation, critical thinking and excellent communication skills, and a sophisticated approach for tackling problems. Every business should have a systematic approach for solving problems and making decisions. Without one, decision making would be insufficient and businesses would be unproductive.
In an effort to formulate the most appropriate decision making process it is important to examine the four different models available to the decision maker. Rational, bounded rationality, Intuitive and creative decision making are all effective paths toward achieving resolution and can be executed by different leadership styles. Looking at the problem facing the email blast procedure at Vail Health Foundation, rationality as a decision making model will garner the most effective results considering all the variables involved. To best examine the effectiveness of such a model it important to analyze the rational decision making approach.
As humans, would like to think we are rational in our decisions, especially for major decisions that will affect our lives or the lives of others in the long run. Nonetheless all decisions form from the foundations of our attitudes where they can stem from internal or external factors.
One of the hardest problems that I faced as a manager was the decrease in sales. In the previous years the sales were much higher. In order to identify the problem, I decided to gather all the information I needed such as financial statements, merchandise, and marketing strategies. After my research I was able to identify the problem, which was the lack of the employee’s’ product knowledge. As a result of stage one, I generated alternative solutions such as hiring new staff or training the current employees, which is considered stage 2 of Rational Decision Making. In stage 3, I evaluated both solutions and decided it was more ethical to train the current staff. Finally, the solution was implemented and the employees were trained. In time, the sales increased and the solution showed effectiveness.
Critical thinking and decision-making are related in more ways than people think. This paper will define critical thinking and decision-making according to the book Whatever It Takes. It will also present a personal definition of critical thinking and decision-making from the author of this paper. The relationship between the two will be explained as well as the benefits of being a critical thinker. The author of this paper will also show how critical thinking is present in his organization and how he implements critical thinking techniques on a daily basis.
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.
In the corporate environment critical decisions must be made, sometimes quickly, whether because of changes in market conditions, corporate profits, or corporate performances. The decision-making process is vital to good management in today’s work environment. This paper will examine the relationship between critical thinking and the decision making process, explain what the textbook authors believe, and relate how both apply to today’s workplace.
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...
Make the decision through the integration of ideas and data, and negotiation and prioritization of ideas
Managerial decisions are an important component in achieving the objectives of the organization. The success or failure of a business depend upon the decisions made by managers (Jurina, 2011). Today’s increasing complexity in the world of business brought forth greater challenges for both the firm and its managers. The rapid rate of technological and digital advance as well as greater focus product innovation and processes that influence marketing and sales techniques have contributed to the increasing complexity in the business environment.
A decision is a solution chosen from among alternatives. Decisions must be made when a person is faced with a problem or an issue that needs resolution. Decision-making is the process of selecting a course of action (ideas or alternatives) that will solve a problem and resolve any issues. Decision-making models provide people with a method for making decisions. There are numerous decision-making methods people utilize today. Some are meant to be all encompassing, meaning they can be utilized in many different environments. Others are specific to issues or industries, such as technology, psychology, and mathematics. Regardless of the problem, there is usually a decision-making process that is best suited for any situation, and it is up to us to find it.
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.
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.
The decision-making process in business is an important part of a company’s success. Making the right decision relies on using the attributes of critical thinking. The following will show the relationship between decision making and critical thinking and how one company uses critical thinking in its decision making everyday to maintain the company’s health and customer satisfaction.
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.
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