Rational Decision-making




Decision-making and Valuation

Best Practices
109
Dale Kennedy, US

Rational Decision-making

I don't believe in any rational decision-making methods for managers. The complexity of most management decisions is big, and the circumstances change quickly.
As a result, many executives prefer the 'Gut Feeling approach'.
Even if we want to be rational, our rationality is influenced by multiple Cognitive Biases.
And when we're working in teams, the situations gets worse due to Groupthink etc.
So forget about rational decision-making models.
 

Rating

 
1
Leo1, NZ
 

Decision-making

I agree it's about gut feel and knowing your Values.

 
0
Brendan Dunphy, France
 

Gut feeling Approach

And how do you think Dale we develop our 'gut feeling approach'? It may seem that it is instinctive but in reality it has developed over time and as a result of much conscious and unconscious self-analysis, observation, questioning etc. To deny 'rational decision-making methods' for managers (or anyone else) can only serve to lessen our ability to make better decisions 'instinctively' when we need to.

 
1
Paul Ward, USA
 

Rational decision making!

I hope I never work at a company that believes only in gut feeling approaches to decision making, an... Sign up

 
0
Andrew Smith
Quality Management and Auditing, Philippines
 

Rational Decision Making

I think the Gut Feeling Approach is only applicable for a situation where you need "a right away dec... Sign up

 
0
Ivan Lax, UK
 

Rational Decision Making

I think it is more about helping groups understand why they make the decisions they do or how they a... Sign up

 
0
NIGAH-E-NAZAR
Financial Consultant, Pakistan
 

Imagination and Intuition in Decision-making

Albert Einstein acknowledged the importance of intuition when he said, " I believe in intuition and ... Sign up

 
2
pradeep deo
Strategy Consultant, India
 

Gut Feeling in Decision Making | Improving your Gut Feeling

A situation which calls for decision making always creates stress. The duration of the stress is pro... Sign up

 
0
Gandhi Heryanto
Management Consultant, Indonesia
 

Gut Feeling in Decision Making

Follow Your Gut, Your Instincts Are Seldom Wrong. That is a topic by Don Todrin, Yahoo! Contributor ... Sign up

 
1
Bernd Born
Manager, Germany
 

Rational Decision Making or Gut Feeling

This is a different approach. I think an important aspect of your method is, that you do a step back... Sign up

 
2
Ivan Kohlinsky
Management Consultant, United Kingdom
 

Gut Feeling is a Valuable Add-on to Decision Making Methods

Gut feeling should not be a substitute for all the well-known decision-making and scientific / analy... Sign up

 
0
Bernd Born
Manager, Germany
 

Gut Feeling in Decision Makin

@Pradeep deo: I used your idea especially in cases there was no time to sort out all facts. For me i... Sign up

 
2
Sridhar Gopal
Management Consultant, India
 

Intuitive Decision Making

When making everyday management decisions, most of the time we adhere to well laid-out standard proc... Sign up

 
1
Anneke Zwart
Student (University), Netherlands
 

Technocratic versus Intuitive Decision Making

In managing a business efficiently, managers have the task to make the right decisions. The types of... Sign up

 
1
Jaap de Jonge
Editor, Netherlands
 

The Rationality of Decision Making is Limited Anyhow

Herbert Simon wrote that cognitive blinders prevent people from seeing, seeking, using, or sharing r... Sign up

   

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Decision-making and Valuation



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