This website uses cookies to ensure you have the best experience. Learn more

Decision Making Models Essay

972 words - 4 pages

Success as a manager is dependent upon good decision-making skills. To introduce my paper I will focus on consequential decision-making and systematic decision-making as two models of decision-making. I then will discuss a recent job related decision using one of these decision models and I will show how critical thinking impacted the decision. Good decision-making skills help to set a framework from which today's manager manages, motivates, and rewards his or her employees in an effort to get a job done well.The consequential decision-making model employees the principle of listing pros and cons for which a manager will use to arrive at a decision. This is done typically when a manager must ...view middle of the document...

The second step for the manager would then be to specify his or her objectives. This step is important in identifying what the manager wants to accomplish as this will ultimately impact the final decision. Thirdly the manager must identify what the alternatives to the problem or creation of opportunity for the organization are. The biggest challenge a manager will face is identifying clearly and concisely the objectives for making a decision from. At this stage the manager would focus on a set of possible solutions to his or her problem or growth opportunity from which the objective identified in step two can be satisfied. Forth step would be evaluating any consequences which are created in choosing a specific alternative. Here is where the manager lays out his or her objectives and what alternatives he or she might have available to make a lasting decision from. Lastly, the fifth step would be for the manager to identify what the tradeoffs are (Akridge & Foltz, 2005). Many business decisions involve trade offs so the decision-making process including the trade offs is of extreme importance to the business manager. Since the systematic decision-making model employees a few more steps than consequential decision-making, naturally managers can infer this model would take more time to move through, potentially more resources, but the pay off for longer term growth is greater.A recent job related decision which I used one of these models would be the systematic decision-making model. I returned to the office after attending a recent industry seminar quite energized by ideas which were generated from attending demonstrations related to our membership database. The demonstrations focused on two modules which would support our membership database. These demonstrations focused on a...

Other Papers Like Decision Making Models

Consumer Decision Making Essay

1762 words - 8 pages Consumer Decision-Making Models, Strategies, and Theories, Oh My! By Michael Richarme How do consumers make decisions? This question is at the core of much of marketing examination over the past 60 or 70 years. As marketers manipulate the various principles of marketing, so do the consumers they seek to reach–choosing which products and services to buy, and which not to buy, choosing which brands to use, and which brands to ignore. The focus

Decision Support System Essay

923 words - 4 pages model solution tasks. In shipping scenario, we can use spreadsheet to simulate best solution based on DSS principle for shipping company to operate in order to obtain maximum revenues. So, DSS as an intelligent information system that uses data, models it, processes or analyzes it using problem specific methodologies, and assists the manager in the decision-making process through the tools such as spreadsheet. An electronic spreadsheet like MS

Decision Making Courses and How They Relate to Decision Making

1291 words - 6 pages they are used in making decisions decision-making, production management, product design and pricing Moderate Financial Accounting I Focuses on assets and how to best preserve them when making decisions revenue and expense recognition Moderate Cost Accounting application of statistical tools and decision models to accounting data for the purpose of facilitating managerial control Statistics and analysis High computerized support Auditing

Supply Chain Decision Trees

1114 words - 5 pages agenda, acting as an agent for no one, while being able of interacting and communicating with other decision agents. An Agent based model An agent based model uses mathematical models, numerical solution techniques and algorithmic forms to analyze and solve decision making problems. Extensive computational resources are needed for simulating the actions and interactions of autonomous individuals in a network. Today more sophisticated planning

Mgmt313 Organizational Change

1259 words - 6 pages . (© 2012). Making sense of change management: a complete guide to the models, tools and techniques of organizational change, 3rd edition. [Books24x7 version] Available from Bonebright, D. A. (2010). 40 years of storming: a historical review of Tuckman's model of small group development. Human Resource Development International, 13(1), 111-120. doi:10.1080/13678861003589099 Weick, K. E., & Quinn, R. E. (1999). Organizational change and development. Annual Review of Psychology, 50, 361-86. Retrieved from

Apple Computer

1025 words - 5 pages Decision making part 2 (Decision models) In order to choose a brand or product among several alternatives, consumers will apply decision rules (models) to evaluate brands and use (or not) very simple or more complex decision rules. In general, as decisions are usually very demanding in terms of cognitive work, consumers will have a tendency to simplify their decision process by using short cuts instead of processing all the available

Approaches to Decision Making Theory

1108 words - 5 pages greater extent performative written, examining the idea of rational decision making as performative praxis. When Laroche talks about actors and theories in a constitutive way, Cabantou and Gond is taking it further by adding tools to their arguing. For example actors in organizations use financial models to shape markets and realities. In their idea “conventionalizing rationality” Cabantou and Gond argue that rationality equips actors - how the

Management Accounting

1153 words - 5 pages the different models of decision making and what's involved in making a good decision. The first thing you should be aware of is the importance of critical thinking and its direct impact on effective decision making. Critical thinking can be defined as raising what is subconscious in a person's reasoning to the level of conscious recognition. Good leaders are usually critical thinkers as they understand the mechanics of reasoning and are able to

Porsche Case Study

662 words - 3 pages Maggie Beckley Anite Dahaba Sherryon Moore Zulma Ocampo Chapter 5 Porsche Case Study: Guarding the Old While Bringing the New 1. Analyze the buyer Decision process of a traditional Porsche customer. a. Traditionally Porsche has developed a low volume and increasingly fragmented auto market. The availability of these high end models created an image of exclusivity. And this image is very important to the Porsche

Organisational Behaviour

1790 words - 8 pages This literature review covers the utter failure in preventing and stopping the atrocity of the genocide in Rwanda. The review is centred on analysing the different types of decision making processes and the models of decision making adopted by the leader, General Romeo Dallaire and the UN and its member states. It highlights the challenges Dallaire had faced in maintaining a peace process and the inaction of the UN to prevent the genocide. It

Electricity Supply Business Models

1078 words - 5 pages model would normatively have a low probability of attracting profit-making organizations in the business, and more interest from development-oriented institutions. For the two types of business models, namely generation and distribution models respectively, financing is a critical input. A decision about the right models can therefore be made only after examining available kinds and sources of financing. For example, on the generation side the

Related Essays

Porsche Case Study

645 words - 3 pages usual Porsche models. Cayenne is a mid-sized crossover model with 5 seats and 5 doors sport utility vehicle. Panamera is a full sized luxury car with 5 doors fastback. Those differences make changes in marketing decision making process. At that time, first three steps are not skipped. The first step is still same for both customer groups however, although the traditional Porsche customers skips the second step since they already know the information

Decisions In Paradise Part 3 Essay

1026 words - 5 pages , Decision-Making Models (2009). Within the large corporation, managers make all final decisions and are solely responsible to the general manager for the outcome. The general manager is responsible to the corporate office for the decisions for which he or she has made. Autocratic Style In the Aerospace example: When problems arose in the organization related to employees work, the supervisor would gather as much information as possible to present to

Aaa Transport Paper

1808 words - 8 pages adapt to the new environment even if they made the decision of accepting the new changes since they have been in that company for a long time. On the other hand, making a particular decision can be difficult and it can risk the good relationship both built with AAA Transportation. Analyze mental/mindset model Wind et al. (2005) mental models have more impact on the company’s outcome than the actions taken and the decision being made. And for

Rational Decision Making Essay

567 words - 3 pages difficult process and outcomes can be irrational. In such situations, regression models lead to more direct solutions. However, such models make decision making process absolutely systematic, reducing creativity. Author also describes “prospect theory”, according to which people look for more risks under negative effects and try to avoid it when they are positive. Moreover, he writes that businessmen must check their decisions before acting them