Decision Making Essay

748 words - 3 pages

Analyzing the Decision-Making and Problem-Solving Processes
Suman Shreshta Byanju
BSAD 320
Professor: James young
Date: 11/16/2013

In my opinion, decision-making is the process of selecting the right course of action from different alternatives. Decision-making is the final choice and output can be action or an opinion of choice. Problem solving is the process of eradicating problems that are a hindrance to the company objective by finding proper solutions. In other word, problem solving is to eliminate the problem space between the current state and desired state of a company.
When there is a gap between desired state and current state in companies, problem exists. Problem solving ...view middle of the document...

This tendency may lead to selecting the first acceptable, though frequently not optimal, solution. A good alternatives solution takes into account both short and long-term issues which is very helpful for business leader in the decision-making process.
3. Evaluate alternatives and select one (decision making process): this step involves the careful weighing of the pros and cons of the proposed alternatives in order to make a final selection. Decision makers need to be sure that the alternatives are judged in terms of the extent to which they will solve the problem without causing other unanticipated problems. Judging alternatives means that people are using criteria-standards or requirements that are important to solving the problem –in order to select the best alternatives. This process will give business leader two options for decision-making i.e. satisfactory and optimal. Once the alternative meets the minimum standard of acceptability, then the alternative is chosen and implemented, even if all of the alternatives have not been reviewed in satisfactory decision-making. Alternatives are evaluated until one is found that is “satisfactory”. Whereas in optimal approach, alternatives are identified and evaluated with respect to decision criteria, and the optimum one that meets those criteria is chosen. In this approach critical data is analyzed, alternatives are...

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