making decisions

  • definition of a decision
    • choice between two or more available alternative
  • definition of decision making
    • process of choosing the best alternative for reaching objectives
  • rational decision-making process
    • identify existing problem
    • list alternative problem solutions
      • legal restrictions
      • unofficial social norms
      • formal policies and rules
      • moral and ethical norms
      • discretionary area
    • select most beneficial alternative implement chosen alternative
    • gather problem-related feedback
  • decision making tools
    • expected value - an alternative is the income the alternative will produce, multiplied by its probability of producing that income
    • decision trees - graphic decision-making tool used to evaluate decisions involving a series of steps
  • group decision making
    • disadvantages
      • takes longer for groups to make decisions
    • brainstorming
      • group members state ideas
      • group leader records each idea where group can read it
      • ideas evaluated only after all have been recorded
    • down grading people will not spark ideas
  • Delphi technique
    • problem is identified
    • group members offer solutions through anonymous questionnaire responses
    • responses are compiled and sent out to all group members

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