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Decision-Making Techniques

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Decision-Making

Within the context of your local business, organization, or place of employment, apply two (2) of the decision-making techniques, a decision that you will make now or in the near future.
After doing so, compare the possible results of the two techniques/tools of choice. Also, assess which would be most effective.
Finally, describe in detail how you used these tools to solve a problem within your organization, business, or place of employment.

All I need is 3-4 pages, (Word Document) and do not forget to use and cite scholarly sources ( references).

PS,
you can use this book, Bazerman, M. H., & Moore, D. A. (2013). Judgment in Managerial Decision Making.
the answer should be in words document.

Thanks

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https://brainmass.com/business/leadership-skills/decision-making-techniques-612010

Solution Preview

Decision #1 Utility Scale
Decision making includes a series of processes which identify the consequences and value benefits using scaled measurements. The outcomes of a decision are not a certain determination, and rather risky. The use of a utility scale direct approach helps to measure the value of a decision numerically in order of risk probability (Hunink & Glasziou, 2003). The researcher will choose from five considerable job opportunities and identify the objectives used in making the decision. These job opportunities are within institutions of higher education and include: assistant professor, assistant director of multicultural student affairs, associate dean, professional development advisor, and grant writer. This paper will discuss the range of outcomes, the utility scale using direct approach, the correspondence between compensation and job satisfaction, and an illustrative graph of plotted points.
The researcher must choose which of the five job opportunities is the most practical based on a series of objectives. These objectives include: location, compensation, opportunities for advancement, and the institutions reputation. The location is important because the researcher is not interested in long commutes to and from work, so the closest location would be ideal. The researcher is looking for a generous amount of compensation considering her level of education and years of experience working in higher education. It is also important the job has opportunities for growth and advancement within the organization. Finally, the institutions' reputation is of utmost importance because the researcher does not want to be affiliated with institutions that are not accredited or might be losing accreditation. In addition, the type of accreditation is important. The researcher prefers a regionally accredited institution. According to Bonoma & Johnston (1979), a persons' choice behavior depends on the different objectives being offered, their current cognitive state of mind, and the benefit probability of the possible decision.
Range of Outcomes
The range of outcomes goes from meeting ...

Solution Summary

Decision making includes a series of processes which identify the consequences and value benefits using scaled measurements. The outcomes of a decision are not a certain determination, and rather risky. The information discusses a variety of decision-making models useful to any organization.

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Similar Posting

Define Critical Thinking; how can it be applied to improve decision-making?

Please answer the following questions based on content, coverage and imaginative thought. Please answer the questions as fully, covering all aspects of the question in your response.

1. Define Critical Thinking and describe its benefits and components.
2. How can you apply critical thinking to improve your decision-making? What happens to decision-making in the absence of critical thinking?
3. Can you be a critical thinker and still believe in absolute truth when making a decision? Why or why not?
4. What attributes would define you as a critical thinker?
5. Formulate an effective problem statement using comparative methods.
6. Provide examples of tools/techniques that help identify causes of the problem. Use illustrations if necessary.
7. Describe how each of the following Influences decision making:
a. Contextual factors
b. Urgency
c. Importance
d. Constraints
e. Resource availability
f. Political support
g. Personalities
h. Diversity
i. Globalization
j. Ethics
k. Media
8. How would managers with different decision-making styles utilize decision-making tools differently?
9. Define the elements of an effective implementation plan.
10. Why do good decisions sometimes have bad results?
11. What is the importance of having a contingency plan?
12. Provide examples of evaluation tools/techniques. Use illustrations if necessary.
13. How can you tell if your decision-making process was effective?
14. How can you evaluate an implementation plan? Provide examples

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