Decision-Making Model Analysis Paper.

Essay by lexxluthorUniversity, Bachelor's December 2005

download word file, 7 pages 0.0

(Does the Lean model always use the Rational decision model?)

Your paper is well researched and well written! The example you present is interesting and I wondered whether the Lean model was based on Rational Decision methodology or whether it embraced other decision models. 5/5 points KB

Decision-Making Model


"Be willing to make decisions. That's the most important quality in a good leader. Don't fall victim to what I call the Ready- Aim-Aim-Aim Syndrome. You must be willing to fire."

-- T. Boone Pickens

The decision-making process is vital in today's business world. In order to compete in the modern and practical businesses of today, managers must be able to make critical decisions, some quickly and some with care. Managers must be able to be proactive, make decisions, and be able to live with the consequences and how they will affect the whole company. Managers who can use the right decision-making styles at the right time are more valuable to the company and the employees.

Whether the problem is big or small, important or not so important, decision-making is a process. Some people weigh the pros and cons while others may just flip a coin. Some decisions are based on feelings, some on the outcome and some on information. Oftentimes if one just goes with his or her gut feeling he or she might be missing out on important information that should be included in the decision.

Decision-making can be a cognitive process of selecting a course of action from various options. Some of us are logical. Some of us are risk takers. Either way, such characteristics play a role in our decision-making process. In my experience, decision-making can also be based on biases, emotions, past experiences, peer pressure, or individual needs and wants.

There are several decision-making models...