w-10

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, we make non-rational decisions.

There are five steps in the rational decision model:

1. Define the problem:Define important problems with clarity and precision.
   • In business, problems can take 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 to expand and grow the business.
2. Analyze alternatives:Carefully and thoughtfully evaluate viable alternative solutions,considering the implications for all stakeholders.
   • Leaders should seek input from multiple sources to interpret and analyze the problem/opportunity and develop as many options as possible to solve the issue.
3. Make a choice:Check that the choice reflects the best ends and uses the right means.
   • Is the action ethical?
   • Is it feasible? (Costs, technology availability.)
   • Is it effective? If your answer to this question is that the resolution is "good enough," you want to rethink this solutionit will cause more harm than good.
4. Take Action: Check the consistency and integrity of actual actions versus intended actions.
   • Ensuring everyone understands their role in executing the decision is vital.
5. Evaluate Results: Check actual ends and means versus desired ends and means.
   • You may use quantitative and/or qualitative data to evaluate results to support or refute decisions.

On the other hand, non-rational decisions are generally the result of eithersatisficing(going with the first available option without much research) orintuition(using your "gut" or just your feelings to make decisions).

For this week's discussion, think about a time when you made a non-rational decision on the job or in your personal life.

Only 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 decision-making?
• How would the steps have helped you to make a better or more sound decision?