Decision Making

Decision and Decision making

* Decision making is not an event it’s a process

* Maintaining a status-quo is a decision, recognising a need to change is a decision as well as ‘deciding to decide’ is a decision.

* A decision is ‘the selection of a proposed course of action.

* There is a place for decision making only when:-

* There is an uncertainty – a possibility to choose between ‘this or that’

* There need to be some intention to act through the choice-making, not necessary at a conscious level.

* There are several perspectives, stakeholders, or actors who may propose alternative course of action.

* A decision making process is concerned with what decision-makers do in order to deal with this uncertainty. Different Varity in which a decision can be taken – rationally, politically, economically, proactively, reactively, systematically, etc.

* Rational Model of Decision Making:- The decision making process where first we understand the goal or the objectives, then develop and evaluate different alternatives, followed by examination of the consequences of the alternatives, and then deciding an optimal solution.

* This above model is criticised by some and favoured by some people.

* Behavioural decision making:- This approach describes what is found in reality unlike the rational model of decision making.

* A decision maker, who realises the limits of rationality and the constraints on the ability to collect the process huge amount of costly, vaguely reliable, confusing and conflicting information, simply uses one’s available experience, information, intuition, and resources to take decision.

* Another set of decision makers are those who take a decision in a manner that can stay out of trouble. This process of decision making is called as ‘Muddling Through’.

* Political tone of decision making:- members gather in a group with preconceived notions, bring their own needs and perceptions to the decision...