How To Do A Bibliography In Chigago Style In Word Benefits of a Rational Decision Making Model

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Benefits of a Rational Decision Making Model

Understanding brain management will reveal managers’ pastime in leveraging organizational resources to achieve a desired end. Managers face challenges and issues that require resolution, clarity and decision almost all the time. Some of the issues are trivial, while others are important to the well-being of the organization, especially in terms of results and strategic performance.

The management environment is becoming too complex and dynamic. This requires rational thinking and rational decision making. Heuristics or rules of thumb will no longer produce any effective solutions to organizational problems and challenges. Rationality in decision-making is no longer negotiable while irrationality is unsustainable.

The rational decision-making model is a traditional approach to understanding decision-making. It is idealistic since it does not always capture the decision-making pattern of the practicing manager, but what should constitute the managerial decision-making frontier.

It is often referred to as the rational economic model. Managers, who are actually the decision makers, are presumed to be rational and therefore would always engage in a sequence of steps that will increase the probability of achieving the stated goals.

The model prescribes a sequential decision-making process with a flow that includes opportunity or problem solution, recognition of opportunity or problem, definition of opportunity or problem, generation of alternatives, gathering of information, evaluation of alternatives, selection of an alternative, implementation of the selected alternative and feedback. by evaluating the effectiveness or otherwise of the alternative.

Recognizing opportunities or problems is key to effective decision making. Without the recognition of opportunities or problems it can be difficult to define the phenomenon or place it in an appropriate perspective. The generation of alternative approaches to coping with the situation depends largely on the definition of the situation.

Information about the alternatives must usually be gathered to ascertain their desirability after an empirical analysis. After that, an option is selected after appropriate selection of the alternatives. The selected option is implemented and further evaluated to provide feedback that matches the original problem.

Problems with this model include simplistic assumptions that all alternatives will be considered and analyzed; such accurate information will be available at no cost; and that decision-makers are fully rational beings untinged by emotion and other vices that are part of their individual frameworks.

Most of the time managers do not always engage in rational decision making as a result of their emotional makeup, degree of competition, scarcity of relevant information, groupthink and time constraints. As a result, mistakes are made and resources are wasted on “solutions that have little ultimate value to the organization” (Berret-Koehler, 2002). As managers, the truth is that we settle rather than maximize all the time (Vecchio, 2006).

Within limited discretion, I find the model effective for adoption in my organization. It will serve as a guide for managers and professional cadres to develop solutions to the problem based on rational thinking devoid of emotions and general rule that seems to be the rule rather than the exception.

The idea is to provide them with a framework for empirical problem solving. However, it is important that training is carried out for them especially in the area of ​​problem recognition, idea generation and evaluation.

BIBLIOGRAPHY

1. Hoenig, C, (2006) “Developing Exceptional Problem Solving Skills”. In Business The Ultimate Resource, 2nd Ed,Basic Books (Member of the Perseus Book Group).

2. Vecchio, RP (2006). Organizational behavior: fundamental concepts. 6th Ed, Thomson Southwestern

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