Custom «Decision Making Process» Essay Paper Sample
Table of Contents
- Steps in decision-making process
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- The role played by each step in decision-making process
- Defining the problem
- Develop Alternatives
- Evaluate the Alternatives
- Make the decision
- Implementing the solution
- Monitor your solutions
- How to use these steps in business decisions
- An example of a business decision
- Related Business essays
Decision making process is the process in which human beings makes up their minds about something. It is not an easy process as many people thought of because it depends on circumstance or situation in hand. Decision-making process is a complex process that requires the application of essential or crucial steps. The following are some of steps an individual can use when making a decision (Robbins & DeCenzo, 2010).
Steps in decision-making process
There are six steps used in decision-making process that includes; defining the problem, developing Alternatives, Evaluating the Alternatives, Making the decision, implementing the solutions and monitoring of one's solutions (Robbins & DeCenzo, 2010).
The role played by each step in decision-making process
Defining the problem
It is the most important step in decision-making process since it helps the decision maker to state the problem to be solved and the desired goal of the decision. It is useful because it enable decision makers to clarify their thoughts about the problem (Robbins & DeCenzo, 2010).
This step involves stating of alternatives that could be available for a particular problem. It is a crucial step because it enables the decision maker to develop creative skills and engage in alternatives that are relevant to the problem being solved. Decision makers are advised not to stick to available alternative but rather create their own alternatives that can ease in solving of the problem (Robbins & DeCenzo, 2010).
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Evaluate the Alternatives
Is among the most essential stages involved in decision making process because it gives the decision maker an opportunity to analyze each alternative he or she have come up with. It is in this stage whereby decision- makers sorts out alternatives that are unable to serve ones purpose (Robbins & DeCenzo, 2010).
Make the decision
This stage calls up on the decision maker to pick or rely on the most applicable alternatives in solving the problem. The decision maker can stick to chosen alternatives or club some of them to come out with suitable solutions rather than relying on one of them (Robbins & DeCenzo, 2010).
Implementing the solution
In this step, decision makers are involved in carrying out on their decisions that they have made. It is an important stage since those involved in the implementation of a solution need to be aware of the implications accompanying decision-making.
Monitor your solutions
It is the final and crucial stage in decision-making process that involves regular monitoring of one's decision. Through regular monitoring, the decision maker is able to evaluate whether his or her decision has led to the expected results or not (Robbins & DeCenzo, 2010).
How to use these steps in business decisions
The above-mentioned steps of decision-making process can be used in making business decisions whereby managers establish the objectives of business decision by defining their goals. They would then generate alternatives to use in order to attain their goal. After generating alternatives, manager would evaluate them and pick the best alternatives that would enable them achieve their goal. The application of the chosen alternatives will take place of the implementation of the solution in business decision. Managers should finally examine their decisions regularly in order to ensure that their goals are met (Robbins & DeCenzo, 2010).
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An example of a business decision
Toyota Company in United Kingdom wished to advertise its new model of vehicle. The options or alternative available for advertisement were road show and media. According to the company road show was quite expensive than the media so the company chosen media instead of road show option.