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Decision - making is the process of identifying and choosing alternative courses of action. While we want to make rational decisions, sometimes we don't. Sometimes,
Decisionmaking is the process of identifying and choosing alternative courses of action. While we want to make rational decisions, sometimes we don't. Sometimes, we make nonrational decisions.
There are four steps in rational decisionmaking:
Recognize and define the problem or opportunity. In business, the problem can come in the form of customer complaints, supplier breakdowns, staff turnover, sales decline, and so on Organizations proactively seek opportunities to exceed goals, surpass industry expectations, and expand and grow the business.
Identify and analyze alternative courses of action. Leaders should seek input from multiple sources to interpret and analyze the problemopportunity to come up with as many options as possible to solve the issue.
Choose a preferred course of action. The group wants to answer the following:
Is the action ethical?
Is it feasible? Costs technology availability.
Is it effective? If your answer to this question is the resolution is "good enough," you want to rethink this solutionit will cause more harm than good.
Implement the preferred course of action. You need to have the participation of all teams to successfully implement the action.
On the other hand, nonrational decisions are generally the result of either satisficing going with the first available option without much research or intuition using your "gut" or just your own feelings to make decisions
For this week's discussion, think about a time when you made a nonrational decision on the job or in your personal life.
Respond to the following:
Was it the result of satisficing or intuition?
How would your decision have been different using the four steps for rational decisionmaking?
How would the steps have helped you to make a better or more sound decision?
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