Decision-Making Models Essay - 982 Words

Decision-Making Models Negotiations and decisions are a part of everyday business. In order to make a successful decision, it is necessary to understand how to make rational and sound decisions. Decisions that are rash, made on snap judgments, and past experiences can prove detrimental to a business. A deficit in basic thinking and decision making is felt at all levels of an organization (Gary, 1997). Decisions can have long term and short term impacts on organizations and their world in which they exist (Turner Dean, 2008). In order to understand the process of making a sound and good decision, it is necessary to define and understand several decision-making models. These models help to make clear the issues to be addressed and the†¦show more content†¦For example, an organization attempting to win a large bid, important factors to consider are a preferred supplier, trust with the customer, the offer itself, and the price (Arsham, 2009). When Japan and America were negotiating the export/impo rt of automobiles, each country had to concede and objective. Japan did not want to allow American-built cars in their country and the United States had to continue importing Japanese-built automobiles. In the end, Japan and the United States agreed on an import/export solution. In order for an organization to use a decision-model or begin negotiations, one must also learn how to rate and satisfy the solutions that have evolved. In addition, the third model is satisfying solutions. In this model, there are six steps to define and rate criteria and alternatives (Gary, 1997). These steps need to be followed when one is making a decision based on criteria. The first step is to define the problem by â€Å"diagnosing the problem in terms of its symptoms† (Gary, 1997). Secondly, the criteria must be identified. After the criterion has been identified, it must be assigned a numerical value based on its importance. Thence, alternatives should be generated, alternatives rated upon each criterion, and the values summed and weighed (Gary, 1997). This model is best used when an organization must make major decisions. For example, when anShow MoreRelatedDecision Making Models Of A Model Essay1551 Words   |  7 PagesDecision making models come in countless arrangements and complexities. In gathering examples of existing models, I understood the significance of personalizing a model to my own preferences an d use. A tailored decision model creates an opportunity to provide a distinct structure that promises greater success in using it on a daily basis for myriad types of decisions, both small and large. The model I configured comprises six stages in the process. I chose to begin my model with the task of recognizingRead More Decision-Making Models Essay798 Words   |  4 PagesDecision-Making Models   Ã‚  Ã‚  Ã‚  Ã‚  There are several decision-making models to choose from in any given situation. 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