Making Decisions

Making Decisions

1. Principles that guide decision-making

   • Rational & Psychological
     • Bounded rationality
     • Satisficing
   • Complication
     • Rational problem solving process
       • Escalation of commitment
     • Executives
       • Survey environments

2. 3 major factors to consider when designing a decision-making process

   • Type of problem
     • Convergent vs. divergent thinking
     • Programmed solution
     • Uncertainnty
   • Who
     • Personality
     • Problem-solving styles
     • Creative problem-solving abilities
     • Intuition
     • Human reasoning
       • Heuristic
   • Social context
     • Social influences
     • Who's involved
       • Autocratic alt.
       • Consultative alt.
       • Group alt.
     • Fair decision
     • Bias
     • Cultural influences

3. Using experts

   • Naturalistic decision making

4. Technology for decision making

   • Level of employment
   • Expert systems

5. Implementing successful decisions

   • Follow through