RGS6036.E1EX5

RGS6036.E1EX5 - Name Course RGS6036.E1 EXERCISE 5 1...

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Name: Course: RGS6036.E1 EXERCISE 5 1. Describe and discuss the three identified methods of decision-making and explain with examples how and when each might be appropriate models to use. The decision-making model is composed of three identified methods: a- The optimizing or scientific method The optimizing/scientific method of decision-making is considered to be the most rational and practical of all methods. This method uses five steps in its process: (1) identify the issue, (2) define all possible solutions that could be used to solve or control the issue, (3) evaluate each solution for their effectiveness to solve or control the issue, (4) Select the best solution and (5) implement the selected solution. - Identify the issue. The first task is recognizing that a problem exists. Identifying the problem is the most important step of the decision-making process. It is meaningless to proceed if there is no clear understanding of the problem or decision to be made. This steps calls for the clarification of what the decision actually entails. Any misinformation about the situation is likely to be amplified in the later steps of the decision making process.
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- Define all possible solutions that could be used to solve or control the issue. In this step, the decision maker should learn about the problem situation and look for possible causes and solutions. It is important to gather as much information as possible to identify good alternatives. The alternatives should be spelled out as clearly as possible to allow a better judgment of the possible solutions. - Evaluate each solution for their effectiveness to solve or control the issue. The analysis of the decision making process begin in this step. Each alternative should be evaluated to determine what effect they could have on the problem. An aspect of this step is the weighing up of the pros and cons of the various alternatives in order to identify the best solutions. Analysis method such as the Decision Matrix or the SWOT analysis could be used in this step. - Select the best solution. After evaluating the alternatives, the decision maker should make a decision. Two or more high ranked alternatives may be very close to each others. They should be considered according to their relevance and significance. The decision maker should examine the inputs, review all the details and select the best solution.
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- implement the selected solution Great decisions are only great when they are carried into action and the action achieves the desired result. A decision has no value unless it is implemented. After implementing the selected solution, a follow up may be done to ensure that the implementation can hold. Although this method is the most pragmatic and logical, it is very time consuming and expensive. This method should be used according to the significance of the decision. Some decisions are much more difficult than others. Time and effort should be made in important and difficult decisions. This method would be more related to difficult decision. Examples of
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This note was uploaded on 02/03/2011 for the course BUS 6036 taught by Professor Ivanov during the Spring '11 term at Dallas.

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RGS6036.E1EX5 - Name Course RGS6036.E1 EXERCISE 5 1...

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