Decision Making Essay

Decision Making Essay-65
At this stage, it is important to consider contingency plans.Contingency plans are alternative actions to take if the primary course of action is unexpectedly disrupted or rendered inappropriate.

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The other approach is the behavioural approach which attempts to account for the limits on rationality in decision-making.

The third approach, namely, the practical approach combines features of the rational and behavioural approaches.

Reliable information is an absolute necessity here.

Inaccurate information can lead to wrong decisions.

At this stage, the constraints within which the problem must be solved are also defined.

Now decision- makers must determine if the problem requires a programmed or a non-programmed decision.Information on the different approaches to decision-making are given below: There are several approaches to decision-making which offer insight into the process by which managers arrive at their decisions.Rational approach is appealing as it is logical and economical.I have also built up my self confidence through making decisions.The most important decision that I have ever made would be the decision to the question that was raised by my dad. Everybody may have different important decisions to make in their lives, and those decisions will always affect one's fate directly or indirectly.After a decision is made, no one can ever change the result, or blame others if something goes wrong.Therefore, we must have a clear mind and think thoroughly before making any decisions.Generally, making our own decision is one of the main processes that we must experience in our personal journey. As for me, I have also made some important decisions in my life, because I am no longer the little girl that needs others to decide what I should or shouldn't do.Decision-makers may analyze the symptoms of the problems for clues or rely on their own intuition or judgement to generate alternative solutions.Each alternative is assessed in terms of its Strengths and weaknesses, costs and benefits as well as possible negative consequences keeping in mind predetermined decision criteria.

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