RationalDecisioMaking

# RationalDecisioMaking - Tyler Jenkins T l J ki David Ekvall...

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2/24/2008 1 Tl J k i Tyler±Jenkins David±Ekvall What±is±Rational±Decision±Making? ± Decision±Making :±Process±of±choosing±a±solution±from± the±available±alternatives. ± Rational±Decision±Making :±Systematic±process±of± defining problems evaluating alternatives and defining±problems,±evaluating±alternatives,±and± choosing±optimal±solutions This is a good question, what is the difference between decision making and rational decision making? From the slide, I'd say it was the difference between making a "gut decision" and using an effective process. While I would agree that it is essential to understand clearly why you are making the decision, it is critical that you not ignore what your "gut" is telling you. Your "intuition" about the situation is one of the most important tools you have.

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2/24/2008 2 Six±Steps±to±Rational±Decision± Making Define±The±Problem Identify±Decision±Criteria Weight±The±Criteria Compute±The±Optimal±Decision Evaluate±Each±Alternative Generate±Alternative±Courses±of±Action Define±the±Problem ± Problem exists±when±there±is±a±gap±between±a±desired± state±and±an±existing±state. ± Just±because±a±gap±exists±does±not±mean±mangers±will± make decisions to solve problems make±decisions±to±solve±problems. GAP Situation± you±are± Actually± Facing± What±is± Wanted PROBLEM Define±the±Problem ± 3±things±that±must±occur±for±managers±to±make± decisions±to±solve±problems ± Be±aware±of±the±gap ± Mt i tdt d th Motivated±to±reduce±the±gap ± Must±have±knowledge,±skills,±abilities,±and±±±±±±±± resources±to±fix±the±problem The first three steps can be stated as Gaining Understanding. In other words, we need to understand the problem, the critical issues, and the priorities. This makes perfectly good sense and, on the surface, should be fairly easy to accomplish once you know your goal. However, there are lots of challenges to overcome before you can gain the necessary understanding; not the least of which is your own preconceived ideas as to what is going on. Actually, I would say that you are your single biggest obstacle to making the best decision. So, what are the secrets to gaining understanding? First, approach the issue with an open mind; second, toss out any preconceptions as to where the best alternatives are coming from; third, listen to all sides (parties) with honest curiosity. Your objective is to gain understanding, not to convince others of your great wisdom. Once you gain understanding, you will know where you are and where you should be (the gap). You, and your team will be motivated to reduce the gap (because of your approach that automatically respects their knowledge and opinions. And, you will know whether or not you have the where with all to fix the problem.
2/24/2008 3 Identify±Decision±Criteria ± Decision±Criteria are±the±standards±used±to±guide± judgments±and±decisions.

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RationalDecisioMaking - Tyler Jenkins T l J ki David Ekvall...

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