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Models of decision making

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I need examples of models of decision making.

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Solution Summary

Discusses four models of decison making, including the steps of each each model. References are provided.

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Decision making is "about choosing from several options or ideas and taking action to generate a particular result. It is usually considered to be a rational and logical thinking process. However, this does not explain the decision making process in every case. Sometimes you will hear people saying things such as 'I listened to my heart' or 'I went with my gut'. Obviously, they are using a different (intuitive) approach." (http://www.decision-making-confidence.com/explain-the-decision-making-process.html).

Let's consider four models.

1. Rational decision making models

This type of decision making model is the most popular and is based around a cognitive judgment of the pros and cons of various options. It is organized around selecting the most logical and sensible alternative that will have the desired effect. It involves a detailed analysis of alternatives and a comparative assessment of the advantages of each is the order of the day. Rational decision making models can be quite time consuming and often require a lot of preparation in terms of information gathering.

Examples:

A. The six step decision making process is a classic example in this category. The steps include:

? define the situation and the desired outcome
? research and identify options
? compare and contrast each alternative and its consequences
? make a decision ? choose an alternative
? design and implement an action plan
? evaluate results See http://www.decision-making-confidence.com/six-step-decision-making-process.html for more detail.

B. The Vroom-Jago decision model helps leaders decide how much involvement their teams and subordinates should have in the decision making process. (See http://www.decision-making-confidence.com/vroom-jago-decision-model.html).

C. Try an online rational decision model for yourself. (Click http://chooseit.sitesell.com/)

D. Seven step decision making model

The seven step model was designed for choosing careers and may be classed as a ...

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