Decision Model Experience Essay

752 words - 4 pages

Personal Experience with Decision-Making Models

Decision making models are a new concept and something I do not have experience with. My experience comes from doing research to write this paper.
Examples of Decision Making Models
The decision making models I have experience with are referred to in the course materials for this class.
Critical Thinking and Decision Making Simulation
In using the problem solving scenario called Critical Thinking and Decision Making Training Simulation (2008), a scenario is presented that helps to make critical decisions about a business. The simulation allows for instant feedback. This feedback shows how decisions impact the issues that are being ...view middle of the document...

I can stay at home full-time.
We can employ a full-time nanny.
We can move to a daycare location closer to my work location.
Evaluate Alternatives.
My wife can work part-time. The only negative impacts would be that her salary would be greatly reduced and there is more cost for her benefits package.
I can stay at home full-time. I am not interested in this idea.
We can employ a full-time nanny. Having a full-time nanny may be a very good solution but we would have to select an adequate candidate.
We can move to a daycare location closer to my work location. If the children are going to go to daycare, we would prefer they remain at their current location. The current daycare has an excellent reputation and they teach the children skills every day.
Identify and Assess Risks.
The main risks with these options are that it would be difficult to afford having a full-time nanny or the loss of salary and benefits for one of us.
Make the Decision.
We have decided to have my wife work part-time after our next child arrives.
Develop and Implement the Solution.
We are building up a savings fund that will cover up to six months of our expenses. She will take the entire...

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