How to Choose the Appropriate Decision-making Method

Decision-making and Valuation

 

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Decision-making and Valuation > Best Practices

Anneke Zwart, Student (University), Netherlands
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

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  Jaap de Jonge, Editor, Netherlands
 

Who Still Thinks Decision-making is Easy?

Thank you for contributing this outstanding summar (...)

  Yeshwant Moodliar, Consultant, India
 

Another Factor to Decide on Decision Making

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  De Monte, Canada
 

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  Andrew Blaine, Business Consultant, South Africa
 

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  Nyasulu Pachisi, Malawi
 

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  Stefania Di Cristofalo, Coach, Italy
 

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  Victor Jurado, Business Consultant, Mexico
 

Quality and Acceptance Factors in Decision-Making Process

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  MOHAMED ELDALY
 

The Importance of Organizing and Cooperating by Management in the Decision Making Process

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  David Dicanot, Analyst, France
 

Decision-making Process Similar to the Chess Player's

Hello, consider the similarity between a decision- (...)

  Greenhow, Consultant, Sweden
 

Many Decisions Rest on Wrong Assumptions and Biases

1. This discussion helps to deal with an assumptio (...)

  De Monte, Canada
 

The Decision-making Tool in a Complex Environment is the Computer

Assuming and presuming no bias, prejudice and conf (...)

  Jaap de Jonge, Editor, Netherlands
 

If you don't Select the Right Decision Context, You're Dead

@: I believe you hit the nail on the head. Those k (...)

  Andrew Blaine, Business Consultant, South Africa
 

A Bad Decision is Better Than no Decision

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  Jillo K. Molu, Accountant, Kenya
 

Objectivity is Very Important in Decision-making

Not having a desired outcome, irrespective of how (...)

  De Monte, Canada
 

Making the Right Decison Requires an Effective Plan

@: Language, words and instructions require carefu (...)

  Jaap de Jonge, Editor, Netherlands
 

Is Waiting a Good Decision Making Strategy?

@: Whether postponing a decision, or involving exp (...)

  edward sevume, Sweden
 

Decision Making Failure and the Reasons Why!

What really disturbs me is when decision making is (...)

  Bhavesh Sodagar, Manager, India
 

Agree on Importance of the Factors Before Taking a Decision

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  Andrew Blaine, Business Consultant, South Africa
 

Making Decisions

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  Jaap de Jonge, Editor, Netherlands
 

The Appropriate Decision-making METHOD

Andrew, thanks for your reaction. Indeed the situa (...)

 
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Decision-making and Valuation

 

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