Question

What factors do you think differentiate good decision makers from poor ones? Relate your answer to the six-step rational decision-making model.

（ I want a new answer, thanks ）

Answer 1

Decision making is a complex process. It is the process of selecting a solution from different alternatives. The Decision-making process happens at all levels of the organization. Knowing how to make good decisions at the right time is important for the success of an organization. Careful analysis is needed for good decision making. Rational decision making involves careful and well-defined steps for the decision-making process. In rational decision-making processes individuals use analysis, facts, and step by step processes to made decisions.

The rational decision-making model has six steps:

1) Define the problem: in this step the management identifies the problem faced by the organization

2) Identify the decision criteria: in this step variables that determine the decision outcome are selected. These variables are selected based on individual values and beliefs.

3) Allocates weights to the criteria: in this step, each criterion is evaluated and allocate ranks based on its importance.

4) Develop the alternatives: in this step potential solutions are generated. All possible alternatives are considered in this step.

5) Evaluate the alternatives: in this step, each alternative is evaluated with its strengths and weakness. Each solution is compared with others.

6) Select the best alternative: based on the evaluation of alternatives the best possible solution is taken.

For a good decision, the organization needs good care and knowledge. Every decision made by the organization directly or .indirectly affects its productivity .a poor decision may affect the entire organizational functioning. The decision-making process is usually time-consuming and costly. For a important decision making, conscious thinking, information gathering, and alternative evaluation is required. In a rational decision-making model, well-defined steps help to maximize the quality of the decision.