Decision Making Process

Decision Making Process Paper

Peter A. Wynter

MGT/230

8 July 2014

Steven Lopez

During our life on earth we all have to make decisions, the outcome of these decisions will affect us in a positive or negative manner based on the reasoning and processing we apply. In order to be effective in our decision making process, we must follow some of the basic decision making stages that will enable us to make the right choice. “ The following stages in the decision making process are, recognized and identify the problem to solve, view all possible alternatives solution, evaluating alternatives, making the best choice, implementing the decision and evaluating the decision”. (Bateman, 2011, pp. 89-95)

Most decision making are based on past experiences, creativity and problem solving skills. During my lifetime I have made numerous decisions regarding my family’s welfare, some were rational while others were irrational. One of my major decisions was buying my home. I had to weight the advantages and disadvantages of buying a home due to numerous deployments with my job in the U.S Navy and changes of duty stations every three years. Stability with work and school for my wife and daughter became one of my priorities along with location. On the other hand, the fear of not being able to rent or sell the house upon completion of my three years rotation became a concerning problem.

Several alternative solutions surface during my brainstorming process. Would it be in my best interest to take a chance and buy a house with the intention of selling it after three years, hoping that the market would be in my favor? Or should I continue to rent at every duty station assigned and never have the opportunity of owning a home while the interest rates are low? In addition, I could make the necessary sacrifice of being a geographical bachelor and purchase a home where I would like to live after my retirement from the Navy in six years. After careful evaluations of all my...