Decision Making (Faisal Madni)
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This document discusses various aspects of decision making. It provides a definition of decision making as examining options, comparing them, and choosing a course of action. It then lists factors to consider for effective decision making like perception, priority, risk, and goals. Six steps of decision making are outlined, beginning with constructing a clear picture of the decision and ending with committing to a choice. Various decision making techniques are also described, such as using decision matrices, T-charts, and cost-benefit analysis. The document concludes with a hypothetical scenario about children near train tracks to illustrate decision making dilemmas.
Decision Making (Faisal Madni)
- 1. Decision Making Faisal Madni
- 2. A Challenge Please write a One Sentence Definition of DECISION MAKING.
- 3. Definition Decision Making: The process of examining your possibilities options, comparing them, and choosing a course of action.
- 4. Related Quotes “Be sure you are right -- then go ahead.” Davy Crocket. “Doing what's right isn't hard -- Knowing what's right is.” Lyndon B. Johnson. “Mine own applause is the only applause which matters.” Cicero. “Once you've made your mark, watch out for erasers!” Will Rogers.
- 5. Making Effective Decisions Factors: Perception. Priority. Acceptability. Risk. Resources. Goals. Values. Demands. Style. Judgement.
- 6. Six C's of Decision Making (1 of 3) 1. Construct. 2. Compile. 3. Collect. 4. Compare. 5. Consider. 6. Commit.
- 7. Six C's of Decision Making (2 of 3) Construct a clear picture of precisely what must be decided. Compile a list of requirements that must be met. Collect information on alternatives that meet the requirements.
- 8. Six C's of Decision Making (3 of 3) Compare alternatives that meet the requirements. Consider the "what might go wrong" factor with each alternative. Commit to a decision and follow through with it.
- 9. Decision-Making Techniques and Tools by Chad Brooks, BusinessNewsDaily Senior Writer | April 01, 2014 03:24am ET • When running a business, making the right decisions can lead to success, while making the wrongs can result to failure. With so much riding on each decision, it's important that thoughtful consideration is put into each one that needs to be made. To help them, many business leaders go through a thoughtful decision-making process.
- 10. Identify the decision to be made: • After realizing that a decision must be made, you then go through an internal process of trying to clearly define the nature of the decision you must make.
- 11. Gather relevant information: • Most decisions require collecting pertinent information. Some information must be sought from within yourself through a process of self-assessment, while other information must be sought from outside books, people and a variety of other sources.
- 12. Identify alternatives: • Through the process of collecting information you will probably identify several possible paths of action, or alternatives. In this step of the decision-making process, you will list all possible and desirable alternatives.
- 13. Weigh evidence: • In this step, you draw on your information and emotions to imagine what it would be like if you carried out each of the alternatives to the end. You must evaluate whether the need identified in Step 1 would be helped or solved through the use of each alternative.
- 14. Choose among alternatives: • Once you have weighed all the evidence, you are ready to select the choice that seems to be best suited to you
- 15. Take action: • You now take some positive action, which begins to implement the alternative you chose.
- 16. Review decision and consequences: • In the last step you experience the results of your decision and evaluate whether or not it has "solved" the need you identified in Step 1. If it has, you may stay with this decision for some period of time. If the decision has not resolved the identified need, you may repeat certain steps of the process in order to make a new decision.
- 17. Decision-making tools and techniques • While the basic principles might be the same, there are dozens of different techniques and tools that can be used when trying to make a decision. Among some of the more popular options, which often use graphs, models or charts, are:
- 18. Decision matrix: • A decision matrix is used to evaluate all the options of a decision. When using the matrix, create a table with all of the options in the first column and all of the factors that affect the decision in the first row. Users then score each option and weigh which factors are of more importance. A final score is then tallied to reveal which option is the best
- 20. T-Chart: • This chart is used when weighing the plusses and minuses of the options. It ensures that all the positives and negatives are taken into consideration when making a decision.
- 22. Decision tree: • This is a graph or model that involves contemplating each option and the outcomes of each. Statistical analysis is also conducted with this technique.
- 24. Multivoting: • This is used when multiple people are involved in making a decision. It helps whittle down a large list options to a smaller one to the eventual final decision
- 26. Pareto analysis: • This is a technique used when a large number of decisions need to be made. This helps in prioritizing which ones should be made first by determining which decisions will have the greatest overall impact.
- 28. Cost-benefit: • This technique is used when weighing the financial ramifications of each possible alternative as a way to come to a final decision that makes the most sense from an economic perspective
- 30. Conjoint analysis: • This is a method used by business leaders to determine consumer preferences when making decisions.
- 32. References • http://www.businessnewsdaily.com/6162- decision-making.html http://www.businessnewsdaily.com/6154- pareto-analysis.html
- 33. Decision Making Skills Counselor’s Presentation Grades K-3
- 34. How to Make Good Choices • What is the choice I need to make? • Will my choice get me in trouble? • Will my choice put me in danger? • Will my choice hurt myself or others? • Do I need to ask for help?
- 35. Easy Choices • Some choices are easier to make than others.Sometimes you must make a decision from the choices given to you. In the choices below, choose the best one for you. hamburgers or hot dogs cats or dogs summer or winter playing a game or riding a bike
- 36. Hard Choices • Read the choice and decide what would be a good decision based on the questions you ask yourself. • Charlie is very angry with Ben and wants to yell at him. What is the question Charlie needs to ask before giving into his anger?
- 37. Another Hard Choice • Susan’s mother asked her to do the dishes but her favorite TV show is on. What should Susan think before making her choice?
- 38. Another Hard Choice • Robbie is really hungry and his friend, John, offers to let him get in line in front of him. What should Robbie ask himself before deciding where to stand in the lunch line?
- 39. What I Choose Affects Others • Everything we do makes a difference in someone else’s life. • Good choices may let others’ lives get better. • Bad choices may cause problems for others. • Good choices and considering others before you make a choice will help you lead a happier, healthier, and safer life.
- 40. What Happens Next • Your choices and actions have consequences. • Some consequences are good and some are bad. • A consequence is the what happens next. • Before making a decision, think ahead to what could happen.
- 41. Correcting Bad Choices • Sometimes we all make mistakes. We make bad choices even when we know the consequences are going to be bad. • When we make poor choices, we feel sad, scared, or angry. • Since we can not always make good choices, we need to know how to correct our poor choices.
- 42. Mistake Correcting Rules • Look the person in the eye and say, “I’m sorry.” • Ask for a time out to think of a plan. • Ask the person you hurt what you can do to help. • Ask an adult for help if needed. • Remember and learn never to do the same mistake again.
- 43. Setting Goals • We set goals to get what we want. • Think of a goal to reach. • Decide on the choices you have to make to reach the goal. • Remember it may take time so be patient.
- 44. Decision Making Train Track and Children
- 45. Introduction The story given here is quite interesting and really gives us an insight into DECISION MAKING Next
- 46. Which one will you choose? A group of children were playing near two railway tracks, one still in use while the other disused. Only one child played on the disused track, the rest on the operational track. Next
- 47. Which one will you choose? The train came, and you were just beside the track interchange. You could make the train change its course to the disused track and saved most of the kids. Next
- 48. Which one will you choose? However, that would also mean the lone child playing by the disused track would be sacrificed. Or would you rather let the train go its way? Let's take a pause to think what kind of decision we could make................ Next
- 49. Which one will you choose? Analyse the situation…………. Think and reflect……. Decided your answer !!!! Now … go ahead Next
- 50. Which one will you choose? Most people might choose to divert the course of the train, and sacrifice only one child. To save most of the children at the expense of only one child was rational decision most people would make, morally and emotionally. Next
- 51. Which one will you choose? But, have you ever thought that the child choosing to play on the disused track had in fact made the right decision to play at a safe place? Nevertheless, he had to be sacrificed because of his ignorant friends who chose to play where the danger was. Next
- 52. Which one will you choose? This kind of dilemma happens around us everyday. In the office, community, in politics and especially in a democratic society, the minority is often sacrificed for the interest of the majority, no matter how foolish or ignorant the majority are, and how farsighted and knowledgeable the minority are. Next
- 53. Which one will you choose? The child who chose not to play with the rest on the operational track was sidelined. And in the case he was sacrificed, no one would shed a tear for him. Next
- 54. Which one will you choose? To make the proper decision is not try to change the course of the train because the kids playing on the operational track should have known very well that track was still in use, and that they should have run away if they heard the train's sirens. Next
- 55. Which one will you choose? If the train was diverted, that lone child would definitely die because he never thought the train could come over to that track! Moreover, that track was not in use probably because it was not safe. Next
- 56. Which one will you choose? If the train was diverted to the track, we could put the lives of all passengers on board at stake! And in your attempt to save a few kids by sacrificing one child, you might end up sacrificing hundreds of people to save these few kids Next
- 57. Which one will you choose? While we are all aware that life is full of tough decisions that need to be made, we may not realize that hasty decisions may not always be the right one. "Remember that what's right isn't always popular... and what's popular isn't always right."
- 58. Remember Everybody makes mistakes; that's why they put erasers on pencils
- 59. Decision Making Quiz and Questions • Take the decision-making quiz. How do you see the two styles working together? • What are the pros and cons of each style? • Think about a decision you had to make this week. Describe how it turned out and how you feel about your decision. • What types of decisions do you find the easiest to make? The hardest? • What is one way you can make daily decision-making easier on yourself this week?
- 60. What Type of Decision Maker are You? • To learn your decision-making style, take this quiz. Read each statement and decide if it is True or False for you: • Even though I’m pretty satisfied with my life, I often imagine how it could be better. T F • At a restaurant I have a difficult time deciding which dinner item to select, and after dinner I find myself wondering if I would have liked something else better. T F • I like to multi-task online, and I always check out the links my friends post. I don’t want to miss anything interesting. T F • I wait until the last minute at gift-giving times because I want to make sure that I’ve gotten the best possible gift for each person. T F • I like to check out all my options when I shop for myself, including online, sales and multiple stores, but when I get home I still wonder if I’ve gotten the best deal. T F • My friends always ask me my opinion on restaurants, movies ─ you name it! I keep lists of the things I love. T F
- 61. Cont. • I’d rather write an email than talk to someone on the phone because I want to make sure I have time to select the right words to convey my meaning. • T F • Making major purchases for our family is difficult for me due to the number of choices, wanting to get the highest quality and stay within our budget. • T F • I set high standards for myself in most every thing I do. • T F • I often question my choices, wondering if I should have decided differently. T F
- 62. Result • You’re done! Now, count the number of “true” answers you had and the number you answered as “false.” If you have 7 or more “true”answers, then you’re more on the end of the scale of being a maximizer. If you had 7 or more “false” answers, you are more of a satisfier. If your answers were split evenly or close to even, you are probably somewhere in the middle.
- 63. References Primer on Decision Making: How Decisions Happen Hardcover by James G. March (Author)