...Decision Making Process April 16, 2012 University of Phoenix MGT/230 We are often faced with decisions in both business and our personal lives. Sometimes making those decisions are not so difficult and sometimes they can be extremely risky and difficult to make. When I think of a time in my life in which I had been faced with an important decision, I think of my work. I had been employed with a company for a little over three years. My job was sometimes stressful but overall I was satisfied. Soon later an individual whom I previously worked with offered me a position at another company. Not only would taking the position increase my pay, but it would also place me in higher titled position as well. There are six stages in the decision making process. Stage one is to identify and diagnose the problem, two: create alternative solutions, Three: evaluate those alternatives, Four: make the decision, Five: implement, and Six: evaluate. The decision I made was to stay with the company I was already working for. It was very difficult for me being that I was a single mother, could use the extra pay , and promotion. I know what many of you may be thinking, this doesn’t make sense how could she turn down the extras. However, when I made my decision I evaluated the long term effects. I had no idea how stable this organization was and the contract on the position was only three years. This doesn’t mean I would have had to left the company after three years but there was no guarantee...
Words: 547 - Pages: 3
...Decision-Making Process Decision making is a significant part of everyday life as every action is a reflection of any and all decisions. Life in itself demands for various decisions to be made, therefore decision making becomes a key element to all aspects of one’s life. Such decisions that do bring critical attention to the conscious mind are; career, school, managerial, financial, and family decisions. These decisions play a critical role in ones’ future just as much as in their past and present. Waking up in the morning, brushing your teeth and walking out the door or staying in for the day are some of the smaller decision made, however are just as important. Without decisions there is no action, and without action what is life? Purchasing a car is one of the grander decisions to be made as an adult. Not every adult finds themselves in this position but majority do reach this one point of their life. In some cases life obligates you to make this difficult decision in order to keep the sanction of your lively hood. For example: Ted’s current car has blown its engine and now he is without a car. Currently he has saved enough money to build some type of financial cushion and the thought of utilizing the majority of this financial cushion is not sitting with his conscious to well. On the other hand, Ted knows that he needs a vehicle to get to work every day, to pick his kids up from school, and for personal errands and weekend family time. Ted realizes that a car is not a want...
Words: 1076 - Pages: 5
...Decision Making Process MGT230 Decision Making Process I have made quite a few very involved decisions in the last several months. Four months ago I decided to move out of my home state to an entirely new area of the country. Four weeks after that, I decided to start a business that has kept me quite occupied since. For myself, I try to apply the steps of the decision making process to everything in my life. I have a reputation for overthinking everything before making a move. The greater the possible negative consequences of a given action sequence, the more I think about it. The Process In making the move across the country, I first came to the conclusion that it would be best for the furtherance of my education, business prospects, and personal life to do so. All of these things were determined to face a positive change if I relocated. Once it was conceptually a good decision, I had to semantically decide the finer points of the move; the when, where, and how of the issue. After evaluating all of the possible variables and alternatives, I came to conclusions and took action to make the move possible. After making the decision to move, where to do move, and when, I began implementing my decisions and going that direction. The move itself was the easy part, once the foundation had been built upon such deliberate thought, planning, and evaluation of options. No stone was initially left unturned, and therefore no surprises occurred in the process of the move. In fact, it...
Words: 436 - Pages: 2
...Decision-Making Process Paper By Chinyere Perry XMGT/230 A time in my life in which I had to make a personal decision was when I decided to rent my first home. It was a hard decision to make because I was married with two step-children, while we’re both working part time jobs. I have worked at my job for a year and a half and have recently gotten a raise. I was getting tired of renting a townhouse when I could pay the same and start renting a house. There were several steps that I knew I had to do in order to start renting my home. The first step was to identify the problem (Bateman & Snell, 2011). This was an important step that I had to make. I was renting a townhome when I could be renting a home instead. I needed a bigger home for my family. I also had to estimate all our finances. The second and third steps of (Bateman & Snell, 2011) did not meet any of my needs for this decision. The fourth step was making the choice (Bateman & Snell, 2011). I decided to get a four bedroom house with two bathrooms. This would give us enough room and it also was affordable for me and my husband to handle on our income. I found a lot to rent that had water included which worked out better for me. The fifth step I implemented the decision (Bateman & Snell, 2011) to purchase with a lender that I was able to afford on my income. I had also found home insurance that was reasonable. Finally, the sixth step was evaluating the decision (Bateman & Snell, 2011). After looking...
Words: 479 - Pages: 2
...Decision-Making Process Samantha L. Giguere MGT-230 February-10, 2014 Mr. Peter Espeut Decision-Making Process So far in my life I haven’t had to make so many hard decisions, but the one that really was a tough one for me was coming back to school. I had just left my boyfriend of five years with my daughter who was not even one years old yet. I was going to be on my own having to pay bills, take care of my daughter, and make sure I could provide for the both of us. I had already gotten my certificate in Massage Therapy and that was the job I was in when I left. My career did make me enough money to pay bills but it left me short on doing things with my daughter and getting food and clothes on our backs. So I decided to sit down one day and think about what I wanted to do with my life and where I wanted to be in the future. I have never really been one to just rush right into something without making a list of pros and cons, and I did just that! First thing I decided to do was to make a list of pros and cons and based on the outcome I would understand if I could financially afford it, and if it was worth the time. I did pros and cons to going to a community college vs. online college. Being a single mother I couldn’t give up time with my daughter especially if I didn’t have someone to watch her. That was the biggest con to going to a community college. My biggest con to going to an online college was whether or not I would make myself sit down and do the work or not with...
Words: 812 - Pages: 4
...Decision Making MGT 230 University of Phoenix Decision Making There are have been several times in my life that I have had to make a decision that would affect both myself and my family both personally and professionally, but there is one career and life change specifically that I will focus on in this paper and discuss the outcome of my decisions and how it has carried into my life today. When I graduated from High School, I was offered a full ride scholarship to play football at Trinity International University (Trinity) in Deerfield, IL. Initially I declined the offer as I was unsure if that was what I wanted to do, but decided that I needed to give it a shot. So I moved to IL the summer of 2004. Unfortunately, I blew my knee out the first month I was there and was career ending. Although the knee injury was disappointing, it wasn't all that bad as I was able to make some connections with a few individuals that own a trading firm that trade on the Chicago Mercantile Exchange, which at the time, trading was very intriguing to me, so the connection was very important. I decided to move back home to AZ. In April 2006, I was presented with a job opportunity in Chicago, IL to trade on the Chicago Mercantile Exchange with the contacts that I created when I was at Trinity. At this time, I lived in Phoenix, AZ, which is where I was born and raised, so despite how incredible the opportunity was and how excited I may have been, I had responsibilities...
Words: 1010 - Pages: 5
...Decision-Making Process Paper Sarah McKenzie MGT/230 May 21, 2012 Davis Fish Decision-Making Process Paper In 2009 I made the decision to enroll in school. Four years earlier in 2005 I received my high school diploma. Because of a bad circumstance after 26 day in the sixth grade school became a dream and I converted into a dropout. The process of getting back into school was a very challenging task to say the least. Early one Monday morning I identify that I needed an education to advance as well as set an example for my children. Once I recognized the need for schooling I contacted a local college to inquire about classes on adult studies for the GED. Receiving the information on what was needed for getting in school, social security card, birth certificate, and a state ID card, I decided to go and register for classes. The process started with talking with someone in admission to discuss registration, details about the GED classes, times, schedule, and what dates will classes began. The steps in the process that I used are similar in the way that I identify the need to get an education than made the choice and implemented my decision by going to school, receiving my high school diploma and seven years later in college studying for a degree in business. According to the text in this week reading, states that the stages of decision making are identifying and diagnosing the problem, generating alternatives solutions, evaluating alternatives, choice making, apply and...
Words: 356 - Pages: 2
...Decision-Making Process Paper MGT/230 Ashley Turner August 15th, 2012 Scott Romeo University of Phoenix DECISION MAKING PROCESS PAPER Decision making is a cognitive process resulting in a final choice. The process is a part of an individual’s everyday life. There are several factors that influence why individuals make the decision they do. The paper will describe each step of the decision making process. How similar self-decision are to the ones described in the text and how that decision could have been different if you had used the same steps included in the text. Decision making is the process in which companies organize a business. The right decisions reflect leadership There are numerous factors that influence decision making. Significant ones like past experiences factors include, a variety of cognitive biases, an escalation of commitment and sunk outcomes, individual differences, including age and socioeconomic status, and a belief in personal relevance. These concept all impact the decision making process. (DIETRICH, 2010).The decisions to go to school for me was difficult .I had to overlook all the positives and negatives before I made my decision. First I thought about how going to school could better my future. How it could impact my relationship with my family and how going to school could affect my time. Even though I wanted to go to school my past experiences in high school effected my decision to go sooner. I believed that school would better my chances...
Words: 362 - Pages: 2
...Decision-Making Process Paper MGT/230 December 10, 2012 Decision-Making Process Paper A decision is a choice between two or more alternatives; if there is only one alternative there is no need to make a decision. The decision-making process has six stages. The stages of decision-making process consist of the following: 1. Identifying and diagnosing the problem 2. Generating alternative solutions 3. Evaluating alternative solutions 4. Making the choice 5. Implementing the decision 6. Evaluating the decision I believe that one of the biggest decisions that my wife and I had to make was deciding to relocate the family to the military base or stay in our home in Virginia. This was a huge situation for our family that needed to be addressed before making any decisions. My wife and I listed all the pros and cons of moving with her to the base and staying in our home in Virginia. Pros | Cons | Keeping the kids in a familiar place. | Not having my wife at home. | Being able to keep my job. | Trying to find a new job when reaching the base. | Not having to rush to sell the house at a reduced price. | Running the household without the assistance of my wife. | After my wife and I identified and diagnosed the problem, we decided to think of all possible choices that we can chose from that would be best for our family. After my wife and I made the decision that I would stay in Virginia with our children, we set down and had a long discussion...
Words: 429 - Pages: 2
...Decision Making Process Ashley Lopez MGT 230 University of Phoenix September 26th, 2013 The decision making process used by the student is one which focuses on the pros and cons of the decision needed to be made and potential consequences of the decision whether they are positive or negative. When purchasing a new vehicle the student had to base her decision on the financial obligations it would take in order to be able to afford the new car and whether or not it would take from other financial obligations she already had. The first process in the student’s decision making process was to identify the pros and cons of purchasing a new car. the pros were that the student would have better and more reliable transportation than her current vehicle, the costs of repairing her current vehicle would decrease to none because the vehicle would be new and the potential for the vehicle to break was slim to none, the new vehicle would have more space and a warranty as well. The cons of purchasing a new vehicle for the student was that the new vehicle’s payments would be more than her current vehicle which meant less money for luxury items and the increase in cost of insurance for the new vehicle. The pros clearly outweighed the cons in this matter. The second step was to determine which vehicle would be most suitable for the student and hr child. Once the student chose the vehicle she wanted, she then searched the area for the best deal, although not sacrificing quality for price...
Words: 420 - Pages: 2
...Decision Making Process Wilmar Smith MGT/230 March 22, 2012 Ralph Apuan Decision Making Process Making decisions is about choices and how to go about them. Making a choice is about being decisive and following through with a plan and pushing forward. But how does one make a decision? According to “Bateman & Snell (2011)“, there are six steps in making a decision; identify and diagnose the problem, generate alternative solutions, evaluate alternatives, make the choice, implement the decision, and evaluate the decision.” (Bateman & Snell, 2011) The first step in making a decision is said to identify and diagnose the problem. This allows you to understand that a problem exists and that a solution must be formulated. Understanding that a problem is there allows you to understand where you are and where you want to be. As stated in”Bateman & Snell (2011) “, “creating a structure hypothesis is the first step in understanding your problem, followed by prioritizes the hypotheses testing, test hypotheses then coming to a conclusion about the problem. Utilizing these steps in recognizing a problem and understanding it is a portion in being in the managing field. (Bateman & Snell, 2011; Powerful Problem Solving, 2012) Generating alternative solutions is the step that connects to the diagnosing the problem; once you have realized what the full status of the problem is it is time to begin molding your solution. According to “Bateman & Snell (2011) “, there are two directions you...
Words: 318 - Pages: 2
...Krystal Simmons Decision-Making Process MGT/ 230 Nov 09, 2014 Decision-Making Process Every day in our daily lives, we make decisions in different situations. Some of those decisions are easy to make and others are quite difficult to implement. The organized decision-making process will help to control this issue and bring positive outcomes for people enrolled in it. I will provide in this paper decision-making process when I had to make a personal decision, such as enrolling in college. People face a wide range of opportunities every day, as well as certain challenges supporting this process, and the most difficult thing in the life of a person finishing school is to become enrolled in college of his or her dream. The decision-making process may become challenging for people due to the lack of structure and entail risk, uncertainly and conflict ( Managerial Decision Making, Chapter 3 pg 87). That is why people trying to make some important personal or professional decisions should have some appropriate model to follow in order to avoid such challenges. In the text, there are six steps or stages of decision-making process which may be attached to any problem or decision. First, it is important to identify and analyze the problem. My problem was the enrolling in college, as I wanted to enter a good college to build my future professional career. It was a tough decision to make because I was not sure if I am taking the right decision. In order to take this decision, I analyze...
Words: 451 - Pages: 2
...Decision-Making Process Paper MGT/230 Decision-Making Process Paper Important decisions are made daily within my life that will ultimately affect my future. Lifelong challenges which include career path choices, personal wellbeing, and lifetime goals are constantly evaluated; seeking to achieve a greater result. The ideal decision-making process as described in (Management: Leading & Collaborating in a Competitive World) Bateman and Snell (2011) includes six stages: * Identify and diagnose the problem * Generate alternative decisions * Evaluate alternatives * Making the choice * Implementing the decision * Evaluating the decision I use this method to make decisions and evaluate all possibilities before implementing the idea into an action. When I decided to go back to school, I had the option to continue with my last employer to change for a lighter workload while attending. I did not want to limit myself to my previous hourly wage and position. I look at all alternatives before deciding to focus on school and obtaining my real estate license to establish another source of income. Implementing decisions are challenging in the sense that you may face opposition towards changes. (Decisions are likely to attract varying degrees of opposition, ranging from mild dissent to outright resistance.) ("Laynetworks", n.d) Once an idea is implemented into my daily life, I constantly evaluate my situation to determine if my actions are leading to my overall...
Words: 397 - Pages: 2
...Decision Making Process MGT/230 February 18, 2013 Matthew C. Jordan Decision Making Process The next few paragraphs will walk through my decision making process used to purchased my home. The first step was devout myself to the process, I knew it would not be something that I could do in a matter of hours. My first step in buying my home was to select a realtor that could help me find the right home. I had to study the market and decide when would be the best time to buy. Selecting a home was not easy, after getting pre-approved for a loan; my next thing was to find a home that was a good fit. I was able to find four homes that had something that I needed. I made a list with the pros and cons of each home. I had to pick the home, which was going to be the most convenient to my job, children schools, doctors, and shopping. I was able to narrow the choice down to just two homes. The final decision was down to the area the home was located in, the price and the home that needed the least amount of work to be done. I was able to get the home, which had the most checkmarks on my list with the price that was below my budget. In the text, the process was more detail that what I used but was somewhat the same. I recognized the problem of needing to purchase a home. I did not generate alternatives to purchasing a home, such as buying a condo or townhome. I did take implantation on the decision by making securing financing before I started the search and saving money....
Words: 386 - Pages: 2
...Decision-Making Process Paper Jackie Gonzalez MGT/230 June 9, 2014 Decision-Making Process Paper Making decisions is something most all do on a daily basis. How do you know if you make the correct decision? There are many factors to be taken in consideration while in the process for decisions. For example, when you make a personal decision to take on a new job role; knowing how to evaluate all aspects becomes crucial. About a year ago, I was offered a position within my organization as a Sales and Service Advisor. I knew from the beginning my current position as a Sr. Branch Associate was not where I wanted to stay at, so I began to evaluate my options. I brainstormed all the pros and cons of taking the new job role. I researched further as to how each pro and con would benefit and affect the organization, me directly, and my family. I came to analyze any potential risks, I would have based on my decision. Then, I had to determine what had more value and importance to me. From there on I made the choice to stay with my current job role. Even though from day one I knew I did not want to stay with the same position, I decided not to move because I would then be doing something that may have steered me away from my career goal. In comparison to the material on Ch. 3 of Management: Leading and Collaborating in a Competitive World, I believe the decision making process I took was quite similar because both had a root cause for decision making, made an evaluation of choices...
Words: 410 - Pages: 2
