3DEC2_031150224_TMA 1 - Tutor-marked Assignment 1...

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Tutor-marked Assignment 1 MPU3223/03 Decision Making Skill Name : ANITA D/O SUPAYA Student ID : 031150224 Class Code : 3DEC2 Contact No : +6012 733 6369 Email : [email protected] Submission Date: 04 th March 2016 Tutor : MR. PERINPARAJAH AL CHINNIAH (CP RAJAH) Course Coordinator: MS. CH’NG PING PING No. of Pages : 7 PAGES (including this)
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TMA 1 – Question 1 What is a decision? – From the moment we are up till back to bed, there are so many decision-making processes in between such as What to wear today? What’s for breakfast? Who should I go dinner with? Apparently, we will have to make decisions as long as we live, some we can make up our mind within seconds but many we might need weeks, months or even years to make a decision. According to Robert Harris delaying a decision for long do benefit us[Har16], for instance we might figure out an alternate way of doing the same task, secondly, we will have lengthier time to analyst for more information and lastly with more time, we as a decision maker might rework on our needs to have more appropriate items than what we actually need during that stage, for instance, you had in mind that you wanted to purchase a mobile instead you went for a dream trip. However, not all delayed decisions are beneficial, with too much time and choices there are possibilities that we might end up making poor decisions also by prolonging a decision where we have to choose between A or B we might end up losing both by delaying the decision. Moreover, in this fast- paced competitive world, we have to make a certain decision quick in order to grab the opportunity rather than feeling disappointed or regret later. Above all, a decision should be made based on our logical choice and preferences where we must evaluate the positive and negative outcome of each decision we are about to make. Well, I am sure we must have stumbled upon many incidents in our life where we had made good and bad decisions, here is few to share. I had saved enough to get myself a landed property, one day I spotted a house which fits my dream home so I decided to stop for a quick check on the contact details. After exchanging numerous phone calls with the owner I made up my mind to go for it, due to constant travelling, I unable to make the payment on time and things got delayed from there on. After being chased few times I decided to take a day off and visit the house before
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proceeding with the payment, I was shocked the moment I arrived on the location as the entire roof of the house had collapsed due to termite. I immediately called the owner and cancelled the deal. It is because I delayed the decision that I came to know the real condition of the house and saved myself from buying it, otherwise, I would have end up paying more on pest control and repairing work and the hassle of me making trips to/from the bank to cancel the loan applied was another tiring with lots of time wasted.
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