Reasoning in Decision Making




Decision-making and Valuation

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K.Narayana Moorthy
HR Consultant, India

Reasoning in Decision Making

In a business decision making process, an aspect of 'Reasoning' is involved. Reasoning is the process of using existing knowledge to draw conclusions, make predictions, or construct explanations. There are 3 main types:
  1. Abductive ReasoningDeductive Reasoning: Conclusion guaranteed: This process starts with the assertion of a general rule and proceeds from there to a guaranteed specific conclusion.
  2. Abductive ReasoningInductive Reasoning: This process begins with observations that are specific and limited in scope, and proceed to a generalized conclusion that is likely, but not certain, in the light of accumulated evidence.
  3. Abductive Reasoning: Taking your best shot: It typically begins with an incomplete set of observations and proceeds to the likelihood possible explanation for the set. It can be creative, intuitive, and even revolutionary.
 

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Jaap de Jonge
Editor, Netherlands
 

More Forms of Reasoning in Decision Making

Thanks for contributing… There are some more ways of thinking or reasoning besides the 3 main ones y... Sign up

 
1
K.Narayana Moorthy
HR Consultant, India
 

Reasoning Processes in Decision Making

Thank you very much for educating me on the topic. Analytical reasoning is a method of processing i... Sign up

   

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👀Reasoning in Decision Making

Decision-making and Valuation



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