Essay about A Analysis of Rational Decision Making Model

9335 Words Nov 6th, 2010 38 Pages
Decision Making
Hamed Armesh*

In this article we have tried to define and make good and comprehensive explanations of decision making process in different situation. because of decision making importance in business we have tried to take a deep look different subjects that are direct and indirectly related to decision making so as we know decision making is the process of selecting a logical choice from among the available options to do that we need to evaluate, analyze and determine which alternative will be suited for our case of actions.

1.

Introduction

By definition decision making is: The process of selecting a logical choice from among the available options. When trying to make a good decision, a person must weight the
…show more content…
After all, the saying isn’t “decisions make perfect”, its “practice make perfect”. (S. Herper 2000) As we know, the coca-cola story suggests the extensive need for decision making in business. A managerial decision typically affects a great number of people-customers, stockholders, employees and the general public. Coca-cola for example has more than 100000 shareholders of record and nearly that many employees. Professional managers see the results of their decisions reflected in the firm’s earnings report, the welfare of employees, and the economic health of the community and the country. To strive and prosper, managers must be able to able to make professional decisions. Companies do not want dynamic failures; they want individuals who are properly equipped to make decisions. This does not mean that managers must be right 100 percent of the time: no one is perfect. It does suggest that successful managers have a higher batting average than less successful managers. (R.wayne mondy et al 1993)

Decision making does not occur in a vacuum. Elements of the organization’s external environment are the same in a similar manner; the internal environment helps determine what decisions are made and who makes them. For example, the success of Pepsi-cola in gaining market share while coca-cola lost it helped convince Goizueta that change was needed. Whether a decision is programmed or none programmed and

Related Documents