Free Essay

Decision Making

In: Business and Management

Submitted By twigger38
Words 363
Pages 2
The Wilson Brothers have gone from a small time company to a massive one that remains private and still ran by the two original owners. Success like this does not come easy. They’ve proven that they understand what tit takes to succeed and make decisions the right way. The go from product conception to product launch in as little as six weeks. To create timelines like this they use the rational decision making process, which consists of six steps.

1. Identify problem or opportunity 2. Choose the best decision process 3. Discover/develop alternative solutions 4. Choose the best alternative 5. Implement the selected alternative 6. Evaluate decision outcomes

Each step of this method comes with its positives and negatives, but it’s hard to argue with the Wilson Brothers methods because they’ve proven to have so much success over the years. Although rational thought is a smart and proven way to go about decision making, it is not always the best method. Business is about passion and emotion. Using the rational theory we basically eliminate both of those things. Using our emotions and our “gut” feeling, we can make decisions that feel the best, regardless of rational thought. “There is business value lurking in what appears to be irrational” (Hwang, 2013). Our brains and DNA are capable of distinguishing things that rational thought would not perceive. That being said, we don’t want emotion to completely take over the process. Sometimes we can make a decision using emotion that is the wrong one because we are blinded by things that can ultimately ruin the outcome were trying to achieve. In order to make proper decisions, both rational and emotion need to be taken into consideration. It is when we combine our passion, emotion, intuition and rational that the correct decision is often made.

Works Cited
Hwang, V. W. (2013, 03 27). What's Better for Business? Logic or Emotion? Answers from Neuroscience. Retrieved 05 02, 2015, from Forbes.com: http://www.forbes.com/sites/victorhwang/2013/03/27/whats-better-for-business-logic-or-feelings-answers-from-neuroscience/

Steen, S. L., & McShane, S. L. (2012). Canadian Organizational Behaviour (8th ed.). McGraw-Hill Ryerson.

Similar Documents

Free Essay

Decision Making

...Decision Making Danielle Gomez MGT/230 August 7, 2015 James Bailey There comes many moments in everyone’s lives when you have to make some very important decisions. They may be little decisions or life changing decisions. Either way they will affect you somehow, so it is important to know the steps in the decision making process as well as considering the consequences of them. Decision making is the process of making choices by setting goals, gathering information, and assessing alternative occupations ("Decision Making Process", n.d.). There are seven steps when you want effective decision making. The first step is to identify the decision that needs to be made. This is naturally the most important step of all. The second is to gather necessary information to help make this decision. Next is to identify alternatives and then weigh the evidence collected. Step five is to choose from your alternatives. The last two steps are to take action and review your decision and the consequences of making this decision. These steps are what makes the decision making process ("Decision Making Process", n.d.). A personal experience where I have had to make a very important decision in my life was when I decided to continue my college education. It has always been my plan since high school to first attend beauty college and obtain my cosmetology license because that was one of my passions since I was a little girl. I knew that was what I wanted to do since I was young but I......

Words: 1023 - Pages: 5

Free Essay

Decision Making

...every decisions you make in your life. And truly allowing your natural way of being as this human form that you are, to live out your natural expression, living in tune with who you are, and this is what makes you feel whole. 2.) Decidophobia is the fear of making decisions. Examples : A.)First is when I entered college. I really can't decide on what course I will take. I am afraid that my decision might affect my future goals. B.) Second, I am unsure whether to pursue my call center career last vacation which calls for a graveyard shift. C.) Lastly, it’s about my personal life. What to do with my former boyfriend. Leave him or continue my relationship with him. 3. Decidophobia is the overwhelming, irrational fear of making decisions. The person coping with this phobia is painfully aware that life if full of choices and decisions are made based on those choices. The decidophobic individual may actually fear making the wrong decision and so is paralyzed from making any decision at all. What Causes Decidophobia? The person coping with Decidophobia has experienced a traumatic, real-life event. That experience is then automatically associated with making decisions. Perhaps, as a child, the decidophobic individual was never encouraged to make independent decisions that were well thought out. Maybe this person was consistently encouraged to simply go along with the majority or the status quo. Perhaps the person coping with Decidophobia has made unwise decisions......

Words: 687 - Pages: 3

Free Essay

Decision Making

...Decision Making Study Decision Making Study Providing medical care to patients at the County Clinic can be challenging from a financial perspective. This vulnerable population contains challenges in treating patients with difficult multi-factorial disease entities, patients with transportation and other access difficulties, and patients who are uninsured or underinsured. The majority of patients at the County Clinic are covered by Medicare and Medicaid. Recently, the departmental budget for the County Clinic was cut by 15%. In order to continue to provide services for this vulnerable group, the managers at County Clinic will need to evaluate how to best address the needs of the community by eliminating or introducing services that will best address the significant health care needs required by this population. Making a decision regarding a health policy initiative in the face of budget constraints requires that management takes a reasoned approach to decision making. In order to make these decisions, managers need to find the best evidence available, assess the available evidence, and determine which evidence is relevant to the decision making process. Thomas Rundall, Ph. D at the University of California at Berkeley developed a toolbox to aid decision makers in this area. His document is called the Informed Decisions Toolbox. This toolbox contains six steps that will be addressed by County Clinic in developing an action plan for the budget......

Words: 1092 - Pages: 5

Free Essay

Decision Making

...Ques: What are the reason why two perfect individual are never two perfect couples. with the 7 decision making process solve the problem.   The 7 decision making processes are:   1. Define the problem 2. Identify limiting factors 3. Develop potential alternatives 4. Analyze the alternatives 5. Select the best alternatives 6. Implement the decision 7. Establish a control and evaluation system Introduction A perfect marriage may be an illusion although the people involve may be perfect individual in their own right. This situation may arise because the two may be considered as two different captains who have now come together to pilot a ship. Each comes on board with their own ideology and conceptions; as such differences are likely to occur. With this in mind it is important to note that problems are bound to occur in marriages. Case scenario Take for instance the case of a couple who have been married for 7years and filled with problems. The man is a very renowned minister of the gospel and the woman Medical Doctor. In the eyes of the public everyone see them as the wonderful couple but deep within themselves they realize that all was not well with their marriage. In the beginning, the couple were able to get along with each person trying to complement the effort of the other to make the marriage work. They enjoyed one another’s company because they were both meeting each other’s expectation. The couple also spent a lot of time together during the early......

Words: 1304 - Pages: 6

Premium Essay

Decision Making

...The Quality of Decision Making In management I was faced with many situations that involved doing the right thing and being as concise and compassionate as possible. One of the things that I had to do during my weekly staff meeting with upper management was to report and produce a weekly backlog of the number of claims we had left over that needed to be reviewed for claims payment, denial, or pend. The way the data was collected was that my supervisory staff would be in charge of each of their department and delegate a group of people who would provide all of the numbers we had for the five weeks. Unfortunately, what I found was that the staff was giving me inaccurate numbers to report and for several months they withheld this information. I began to notice something was not adding up with numbers and questioned my staff. What I found was that some where providing me with accurate information while others were flat out lying. I then had to figure out a way to rectify the situation immediately as this data was provided to the CEO of the company and the rest of the company’s management and sales team. These numbers were important to everyone as it gave us an idea how often money needed to be funded, prevent us from getting complaints, and gave upper management an idea of how the claim department was doing. After finding out what was occurring I had to meet with the team and speak individually with those who were providing incorrect data. They explained to me they......

Words: 822 - Pages: 4

Premium Essay

Decision Making

...Topic 7: Decision Making a) Explain with examples the TWO (2) types of decision making. b) Explain the steps in decision making. Introduction Definition of Decision Making * The thought process of selecting a logical choice from the available options * Decision making can be regarded as the mental processes (cognitive process) resulting in the selection of a course of action among several alternative scenarios. Every decision making process produces a final choice. The output can be an action or an opinion of choice. * Decision making is a process by DEFINING which a course of action is selected as away to deal with a specific problem. It is the selection of one alternative from among two or more alternatives * It is the process by which managers respond to the opportunities and threats that confront them by analyzing the options and making determinations about specific organizational goals and courses of action Answer: a) TWO (2) types of decision making Decision making is the selection of one alternative from among two or more alternatives. In other words, decision making is defined as the process by which a course of action is selected as the best way to deal with specific problem. There are two types of decision making are Programmed Decision and Non-Programmed Decision. 1. Programmed Decision Marking Programmed decision making is a repetitive decision that can be handled by a routine......

Words: 1184 - Pages: 5

Premium Essay

Decision Making

...Decision Making Case Study Ciera Butts HCS/514 September 2, 2013 Michael Curtis Decision Making Case Study A major compound in managing an organization, resources, and staff members is an effective decision-making. Daily, managers may make dozens of important decisions that affect the operations, quality, and success of their organization. Not all managers have the natural ability to be effective decision-makers however that does not mean this is an unattainable skill. This skill can develop and improve to help managers make the most of their formal decision-making with the use of tools and intelligent use of resources. The standard definition of decision-making is; the process of mapping the likely consequences of decisions, working out the importance of individual factors and choosing the best course of action to take ("Definition of decision,"). Decision making takes qualified managers to determine what is the proper decision to make based on the information given and problems that may needs to solve; never cut and dry. Although decision-making is a job usually by the higher end of the pyramid, the bottom rung of the ladder can make it as well. Only a small portion of the company and other decisions may affect the whole company and the health of the patients by the decisions that are made. When facing many barriers making decisions, health care managers need as much help as they can get. With the advancement of medical technology comes the advancement in......

Words: 1290 - Pages: 6

Free Essay

Decision-Making

...Decision-Making Case Study December 16, 2013 The health care industry have been impacted by the economy across the country. The patients who used Medicaid services have been affected by budget cuts. The Clark County Clinic has gone through budget cuts too. Each department that services to Medicaid clients has received a 15% budget cut. The managers of Clark County Clinic have to make a decision if they have to cut certain services or what they can do to still provide services to those that has Medicaid. Effective decision-making is a key component in managing an organization. Managers make important decisions daily that affect the operations and quality of their organization. Every manager has their own perspectives, some are natural at decision-making and some are not. Manager’s still uses tools such as the Informed Decisions Toolbox (IDT) by Rundall et al, it helps managers with their decision-making. Clark County Clinic has gone through budget cuts, a 15% budget cut. The organization has a number of decisions such has how to achieve the goal and still maintain the best quality care for their Medicaid clients. There is an article that have been written in 2007 by Rundall et al that describes the decision-making process and has a set of tools that may help this clinic make the most informed and effective choices determine which services should be changed to meet their budget needs (Rundall et al., 2007). The managers of Clark County Clinic will determine......

Words: 1081 - Pages: 5

Premium Essay

Decision Making

...Questions: Decision making is one of the management important functions. How do managerial accounting tools assist management in making effective decision? Managerial accounting is an integral part of management that deals with identifying, presenting, and interpreting information used for strategies, decision making, resource optimization, employee information, and control of activities, information of associates or other external user information.( Bricin, 2011) Managerial accounting is a field accounting that provides economic and financial information for managers and other internal users. It also applies to all types of businesses, includes corporations, partnerships, proprietorships, and non-profit. Managerial accounting absolutely completing all management functions such as planning, directing and controlling. In managerial accounting, decision-making may be simply defined as choosing a course of action from alternatives. If there are no alternatives, then no decision is required. A basis assumption is the best decision in the one that involves the most revenue or the least amount of cost. Any manager or business owners are faced with countless decisions every day. Managerial accounting information provides data-driven input to these decisions, which can improve decision-making over the long term. Managers can leverage this powerful tool to help make their business more successful by understanding how management accounting benefits common business decision......

Words: 817 - Pages: 4

Free Essay

Decision Making

...Decision Making Process Jacqueline L. Gonzalez MGT/230 December 11, 2013 Professor: Richard Dettling Decision Making Process Decision making is a process that consists of six different steps that one should follow in any decision making. The first step is to define the problem, the second step is to identify available alternative solutions to the problem, the third step is to evaluate the identified alternatives, the fourth step is to make the decision, the fifth step is to implement the decision, and the final step is to evaluate the decision. The time in my life that I had to make a personal decision would be when I decided to go back to school at the age of 33. The decisions that I had to make to find the right school took time and preparation. Going through the similarities and differences from the steps can change. Knowing the steps could have helped me from the beginning of my process. The decision process in my decision to go back to school at the age of 33 was a long time in the making. Having three kids doing somewhat okay in their school work, I wanted to show them that anything was possible just as long as you put your mind to it. The main reason I decided to go back to school was from the fact that I am at place in my job. I feel that the company I work for does not value its long time employees; I have been at my place of employment for 12 long years. It was 2011 when I finally said to myself “It is time for a change in my life and it will be for the better of......

Words: 706 - Pages: 3

Free Essay

Making Decisions

...Decision Making The buzz of a coffee shop can always make me feel better, the constant flow of people unsettling in the best way. It was only fitting that I marked the six-month anniversary of Mariette walking out on me at my favourite cafe, miserably reminiscing as I sipped at my coffee, staring at people who looked like her walk by outside the bay window. We’d been together 3 years that very day; the day I came home early to surprise her, but walked into a surprise of my own. She had all her bags packed and loaded into the front entrance hall, a defiant expression on her face. All she said was “This is not working out; you have no ambition in life,” before walking out for good. At least once every week since then, I’ve been to Le Paris Cafe` for the most divine coffee and to bury my sorrows (and those times when I was feeling particularly unpleasant, celebrate my loss). “Is everything alright Allen?” asked Lucy the waitress. She knows my order without me even saying a word. “Yes, thanks everything is perfect as usual!” Lucy is a young, beautiful, single mother, and seems to like me a little more than she probably should. I must admit I too have quite a soft spot for her, even if I’m not sure I’m ready for serious relationship yet. Mariette left me with too many scars that stubbornly refuse to heal. The phone rang just as Lucy was about to say something more, and she gave me a little smile before walking away to allow me some privacy. I fished my......

Words: 918 - Pages: 4

Free Essay

Decision Making

...The Decision Eugene Bostick MGT/230 May 22, 2012 Doug Moran I have made many choices in my life, whether they were good or bad decisions they lead up to me making a choice in which I think was one of the greatest choices I have made so far in life. During the year of 2000, I decided to drop out of High School. I was 18 years old and had been attending Monacan High School for about three years. Due to financial situations I was forced to leave school and work a full time job so that I would be able to support myself. I had a talk with my General Manager about full time employment and he agreed that I was a good worker and gave the ok to start training to become a Manager of Taco Bell. I worked very hard to manage and save my money to make life more comfortable, and during that year I was able to plan and set more goals for myself. As I was getting my life back on the right track so was one of my closest friends, Nelson Clanton. Nelson and I would talk about the future from time to time. I remember one particular day he asked me what I thought about joining the military. We were both a few months away from turning 20 years old and we weren’t getting any younger. In the earlier days I would have never even considered joining the military. As the days past I went into deep thought about enlisting, I felt I would be a great opportunity to do something different with my life. I finally called him and said “Lets......

Words: 787 - Pages: 4

Premium Essay

Decision Making

...CHAPTER 12 ENHANCING DECISION MAKING Decision Making Rashan Carter, MSW IS 535 Managerial Applications of Information Technology Fall Semester Session Table of Contents Abstract ………………………………………………………………………Pg. 3 Decision Making ……………………………………………………………..Pg. 4 Information Requirements …………………………………………………....Pg. 4-5 Conclusion ……………………………………………………………………Pg. 5 Bibliography…………………………………………………………………..Pg. 6 [ ]Abstract Per our text, Decision Making in business use to be limited to management. Today lower level employees are responsible for some of these decisions, as information systems make information available to lower levels of the business. What is meant by better decision making? How does decision making take place in businesses and other organizations? (Laudon & Laudon, 2012) It is work of choosing issues that require attention, setting goals, finding or designing suitable courses of action, and evaluating and choosing among alternative actions. The first three of these activities--fixing agendas, setting goals, and designing actions--are usually called problem solving; the last, evaluating and choosing, is usually called decision making. When making a decision one should apply ethics to weigh the value or magnitude of impact. Often at times this can be challenging because there are so many influences that affect ones decisions. Ambiguity can play a big part in the circumstances, details, stakeholders, and morals in which decisions are made. In......

Words: 722 - Pages: 3

Premium Essay

Decision Making

...major problem with the bowling center is that the profit pool is too low at the end of the year and capacity and sales needs to be increased. In order to improve the profit and maximize the capacity and sales dollars, the managers need to consider what resources to make the right decisions for bowling center. There are five alternative solutions to approach: more advertising, offering incentives to customers during slow hours to increase sales, use the extra space and rooms to generate income by renting that space, closing the business during slow times, and put the business on the market to gauge potential profit from sale. Bateman and Snell (2011) stated that “It is important to understand why decision making can be so challenging” (p. 86). Many solutions to solve the blowing center’s problem; however, which solutions can be the best for the Wallingford Bowling Center? Decision Making within the Wallingford Bowling Center McDonald stated that “The business executive is by profession a decision maker. Uncertainty is his opponent. Overcoming it is his mission.” What make the different between a good decision and a bad decision? A “good” decision-one that uses analytic decision making-is based on logic and considers all available data and possible alternatives. The beautiful Wallingford Bowling Center’s modern-day facility features a multilevel spacious interior with three rows of 16 lanes on two separate levels of the building, a full-service bar, a......

Words: 1085 - Pages: 5

Free Essay

Decision Making

...Running head: DECISION MAKING Decision Making Bonnie K. Hinsdale Grand Canyon University BUS 660 November 24, 2010 Decision Making The purpose of this paper is to explore how a company can become an analytic competitor. Questions as to what are the sources of Decision Making to an analytic competitor will also be discussed. A discussion on how influential quantitative modeling is and its utility in business decision making will be summarized. Finally, a Christian view that presents an ethical perspective on quantitative modeling and decision making will be presented. In an ever increasing global environment, maintaining a competitive advantage can be sustained through quantitative modeling, which can make a company a viable analytic competitor. How Can a Company Become and Be an Analytics Competitor Competitors make it increasingly more difficult to maintain a strategic competitive advantage when exclusive technologies, products and services can be duplicated (Davenport, Cohen & Jacobson, 2005). Organizations are now framing their strategies to accomplish optimization of “key business processes”: serving optimal customers, optimize supply chains, and understand and create optimal financial performance (Davenport, et al., 2005, p. 1). Optimization strategies demand that organizations now gather extensive data and perform extensive analysis that will guide executives in the decision-making process. The data and the......

Words: 1870 - Pages: 8