Decision Making

Critical Evaluation of Decision Making

Critical Evaluation of Decision Making

The cognitive processes that help in adoption of a course of action among various alternative options or scenarios are commonly known as decision making. Every decision making process contributes in selection of final choice. The end result may be an opinion or an action of choice. There are several perspectives of research in judging human performance in decision making terms. According to cognitive perspective the process of decision making should be treated an active process that is integrated through an interaction with an environment. Under normative perspective the examination of individual decisions is linked with the reason behind rationality, decision making and an in-variant choice it ends up. It is extremely important for science based professions to have logical decision making, as it helps them in application of knowledge in a particular field to take informed decisions. For example in clinical management the decisions are made on the basis of diagnosis report and the selection of an appropriate treatment is also dependent on it (Monahan, 2000, p.40).

So, it is consistent with the theories of decision making. An analysis of a countable set of options that are explained in respect of the evaluative criteria plays an important role in decision making process. There are various situations in which individual as well as group decision making is involved or in other words the process of decision making cannot be completed without it. For example in case of organisational decision, no important decision can be taken without group decision making (Board of directors) or in other words at least 2/3 majority should be present to take any decision. While on the other hand, it is not necessary for a teacher to take any decision related to any student in group setting it can be taken at an individual level as well.

Marginal decision making theories

These theories are made by the theorists for economic purposes. Marginal theories help an organisation in getting the insight on how an organisation can get its profits maximized. These theories are based on law of diminishing returns. Law of diminishing returns states that an additional input of a particular type added to a business helps in increasing the output but with every additional increment in input contributes a smaller increment to output.

Mathematical Decision-making theories

With the support of computers, these theories have helped in aiding decision making. With ...