Decision Making Process

Study Notes

Decision Making Process

The decision making process is a series of steps used to identify and choose a solution from a set of alternatives.

Steps in the Decision Making Process

Problem Identification: Recognize a problem or opportunity that requires a decision.
Information Gathering: Collect relevant data and facts to inform the decision.
Goal Setting: Define the objectives and criteria for the decision.
Option Generation: Identify and generate potential solutions or alternatives.
Option Evaluation: Analyze and evaluate the pros and cons of each option.
Choice: Select the best option based on the evaluation.
Implementation: Put the chosen solution into action.
Review and Evaluation: Monitor and assess the outcome of the decision.

Decision Making Models

Rational Decision Making Model: A systematic and logical approach to decision making, involving a thorough analysis of options and their consequences.
Intuitive Decision Making Model: A rapid and instinctive approach to decision making, relying on experience and intuition.
Behavioral Decision Making Model: A model that considers the psychological and emotional factors that influence decision making.

Decision Making Styles

Dictatorial Style: One person makes the decision without input from others.
Democratic Style: A group of people collaborate to make a decision.
Consensus Style: A collective decision is made through a process of negotiation and agreement.

Factors Influencing Decision Making

Personal Biases: Cognitive biases and heuristics that influence decision making.
Emotional Factors: Emotions and personal values that affect decision making.
External Pressures: Time constraints, pressure from others, and external factors that influence decision making.
Cultural and Social Factors: Cultural and social norms that shape decision making.

Decision Making Process

Recognize a problem or opportunity that requires a decision through problem identification.
Collect relevant data and facts to inform the decision through information gathering.
Define the objectives and criteria for the decision through goal setting.
Identify and generate potential solutions or alternatives through option generation.
Analyze and evaluate the pros and cons of each option through option evaluation.
Select the best option based on the evaluation through choice.
Put the chosen solution into action through implementation.
Monitor and assess the outcome of the decision through review and evaluation.

Decision Making Models

Rational decision making model: a systematic and logical approach to decision making involving a thorough analysis of options and their consequences.
Intuitive decision making model: a rapid and instinctive approach to decision making, relying on experience and intuition.
Behavioral decision making model: a model that considers the psychological and emotional factors that influence decision making.

Decision Making Styles

Dictatorial style: one person makes the decision without input from others.
Democratic style: a group of people collaborate to make a decision.
Consensus style: a collective decision is made through a process of negotiation and agreement.

Factors Influencing Decision Making

Personal biases: cognitive biases and heuristics that influence decision making.
Emotional factors: emotions and personal values that affect decision making.
External pressures: time constraints, pressure from others, and external factors that influence decision making.
Cultural and social factors: cultural and social norms that shape decision making.

Description

Learn about the steps involved in the decision making process, including problem identification, information gathering, goal setting, and more. Test your knowledge on the essentials of decision making!