Decision making process
At one point, a person has to make a decision on certain issues of life. Prior to making whichever decision, it is important to recognize the fact that the decisions have its repercussions. The repercussions can be positive and on the other hand, they can be negative. It can affect both the decision maker and also other people around them. The burden is even heavier to a person in managerial position. The decision managers make affects the whole organization and can lead to a better future of the organization or to a doom in the organization. In Order to make an excellent decision, it’s important to follow a certain protocol. According to Pera and Tonder (2005)There six main steps of decision making: “recognizing and defining the dilemma, identifying alternatives, evaluating alternatives, choosing the appropriate decision, converting the decision into action and evaluating the action”(p. 45).
The first step in decision making involves identification of the need to make a decision. This can be triggered by the factors inside the organization or outside the organization. The manager can be either proactive or reactive but whichever the case there is need for him/her to identify the need to make a decision (McGrew, and Wilson, p. 54). For example, the manager can identify a need within the organization when there is reduction in profits, many conflicts arise among the employees or there is inadequate supply of raw materials.
The second step in decision making is invention of options. Many managers make bad decisions due to failure to generate a variety of options to solve a problem, after identifying the need to make a decision. Decision making requires an open mind, and readiness to abandon any mindsets. One need to look at the challenge as if he or she has never handled such a challenge before, and put away any pre-formed mind set. It also requires one to be very creative, in order to generate scores of ideas. A good manager also considers involving the rest of organization members in generation of ideas (Einhorn, and Hogarth, p. 52). For example, making a decision about factors causing high employee turnover in an organization should involve all employees to know the problems they face in the workplace.
After coming up with different alternatives, there is needed to weigh them. This makes, the third step in the decision making process. The manager analyses the alternatives, and prove strength and weakness of each option. In order to do this, the manager put into consideration four factors. These factors include legality of the channels of action, economical feasibility, the practicability of the alternative and ethicalness (Einhorn, and Hogarth, p. 53).
After a critical analysis of the different alternative, then one needs to rank the viability of the decisions. This makes the forth step of the decision making process. The manager makes a comparison of the options and a thorough evaluation of each of them. The manager has to consider all the pieces of information concerning the different alternatives, and should not sideline any piece of information no matter how negligible it may appear (Ware and Singer, p. 4).
The fifth step involves implementation of the most highly ranked decision. It involves the different managers of the organization. For example, the top manager allot the middle manager with the responsibility to supervise various decisions to reach a given objectives. The middle manager is accountable for any performance and is answerable to the top manager (Einhorn, and Hogarth, p. 54). The last step in decision making is learning from the feedback. It involves evaluation by the top manager to see whether it adds advantage or disadvantage to the organization. They need to compare it with causes of the previous failures and successes (Einhorn, and Hogarth, p. 55).
For the process to be effective, then each of the steps has to be followed in a systematic man. A life example is the coco-cola company. The Coco-Cola Company has a brand called the Coca-Cola Amil. Currently it is leading in the world market (Bell, p10). The company has reached to this level by applying the Harrison process. When the brand was introduced, the company realized that it was earning less than the cost of capital. They realized that they were not meeting required rates of return. Therefore identified the need to make a decision on changing (Bell, p. 13).They actually needed to make a decision in order to be able to compete with their rivals and make the maximum profit, and also compete in the business world.
After identifying it’s the problem, the managers came up with different options on how to solve the problem. The managers involved different people ingenerating the ideas. They did thorough research, they involved their employees, came up with questionnaires and researches to solve the problem. Some of the ideas given included enhancing people’s awareness through advertising, giving promotions, changing the packaging of the product, improving nutritional quality of the products, coming up with mergers and takeover and creating a comfortable environment for the workers. They also identified the company’s strong points and deficiencies. After getting the different options, they began analyzing the different options. For example by advertising the product it built and maintains the awareness (Bell, p8).
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