How to Choose the Appropriate Decision-making Method

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Decision-making and Valuation

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Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.     Log in Decision-making and Valuation > Forum > How to Choose the Appropriate Decision-making Method How to Choose the Appropriate Decision-making Method Anneke Zwart, Student (University), Netherlands, Premium Member Most decision makers in organizations rely on conventional decision-making tools - even in situations of high complexity and uncertainty. However, these basic tools are based upon the assumption that decision makers have access to all information that is needed. Therefore, these conventional tools can only work in stable contexts. See also the or to appreciate the difference between these decision-making circumstances/contexts: in uncertain and complex environments the conventional tools are useless, mainly because of the lack of reliable and complete information. The problem with the above is not the absence of alternative tools; rather, it is the lack of clear guidance about how and when to use what tools. As a result, managers will use only those tools that they are highly familiar with, instead of using the most appropriate tools. Courtney et al. (2013) explain a model of decision making that matches the right tools to the decisions to be made. Their model is based on three (...) Read more? Sign up for free   Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.     Log in   Who Still Thinks Decision-making is Easy? Jaap de Jonge, Management Consultant, Netherlands (...)     Another Factor to Decide on Decision Making Yeshwant Moodliar, Consultant, India, Member (...)     Wise Decision-making Requires Intelligence, Regardless of Method De Monte, Canada, Member (...)     A Real Taste of Decision Making SURENDRA GANGADHAR YERNAL, Project Manager, India, Member (...)     Blink and Making Decisions Andrew Blaine, Business Consultant, South Africa, Member (...)     Decision Making Depending on the Situation at Hand Nyasulu Pachisi, Malawi, Member (...)     Clear Vision to Take Decisions Stefania Di Cristofalo, Coach, Italy, Member (...)     Quality and Acceptance Factors in Decision-Making Process Victor Jurado, Business Consultant, Mexico, Member (...)     The Importance of Organizing and Cooperating by Management in the Decision Making Process MOHAMED ELDALY (...)     Decision-making Process Similar to the Chess Player's David Dicanot, Analyst, France, Member (...)     Many Decisions Rest on Wrong Assumptions and Biases Greenhow, Consultant, Sweden, Member (...)     The Decision-making Tool in a Complex Environment is the Computer De Monte, Canada, Member (...)     If you don't Select the Right Decision Context, You're Dead Jaap de Jonge, Management Consultant, Netherlands (...)     A Bad Decision is Better Than no Decision Andrew Blaine, Business Consultant, South Africa, Member (...)     Objectivity is Very Important in Decision-making Jillo K. Molu, Accountant, Kenya, Member (...)     Making the Right Decison Requires an Effective Plan De Monte, Canada, Member (...)     Is Waiting a Good Decision Making Strategy? Jaap de Jonge, Management Consultant, Netherlands (...)     Decision Making Failure and the Reasons Why! edward sevume, Sweden, Member (...)     Agree on Importance of the Factors Before Taking a Decision Bhavesh Sodagar, Manager, India, Member (...)     Making Decisions Andrew Blaine, Business Consultant, South Africa, Member (...)     The Appropriate Decision-making METHOD Jaap de Jonge, Management Consultant, Netherlands (...)

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Decision-making and Valuation

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