Decision Making
The process of identifying and choosing alternative
courses of action to meet the demands of a situation. Alternative courses of
action must be identified, weighed, and weeded out.
Trends in Decision Making: The complexity of
decision-making has accelerated.
Dealing with Complex Streams of Decisions
— Multiple
criteria to be satisfied by a decision
— Intangibles
that often determine decision alternatives
— Risk
and uncertainty about decision alternatives
— Long-term
implications of the effects of the choice of a particular alternative
— Interdisciplinary
input, which increases the number of persons to be consulted before a decision
is made
— Pooled
decision making increases the number of persons playing a part in the decision
process.
— Value
judgments by differing participants in the process create disagreement over
whether a decision is right or wrong, good or bad, and ethical or unethical.
— Unintended
consequences occur because the results of purposeful actions cannot always be
predicted.
Sources of Complexity for Today’s
Managerial Decision Makers
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