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In your experience, have you found an effective decision making process useful in all situations? Explain...

In your experience, have you found an effective decision making process useful in all situations? Explain why or why not.

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Answer #1

Decision Making is one of the most difficult as it require high level of conceptual understanding. Decisions involve tricky situation where a manager has to analyse the cost and benefits and unless the decision is not based on proofs and explanations, it’s not a decision but only intention. The most effective decision making process which can be applied to almost all of the situations is –

  1. Identification of the problem- The first step is to define the decision you have to make. What is the nature of the probem,etc.
  2. Collection of Information- It involves the information collection regarding the decision, it may be internal or external. Important sources like self-assessment, past experiences, etc. for Internal whereas books, other people, for external.
  3. Identification of the Alternatives- After information collection, several alternatives are identified which will be divide into possible and desirable alternatives.
  4. Weighing the Alternatives and section of alternative- Evaluation of each alternate with the objective of higher potential for goal achievement and after finding the most potential alternative it will be selected for implementation.
  5. Action- At this step, implementation of chosen alternate will be started.
  6. Decision Review- After implementation, consider the results and evaluate whether it has solved the problem which is being identifies at step 1. If not, why and what other actions need to be taken.

This decision making process is most effective as it have all the steps essential for any type of decisions to be taken. It does not deal with any particular problem rather all situations can be dealt with these steps effectively.

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