DECISION MAKING

Decision Making

Decision Making

Decision making

Decision making is the process of recognizing and selecting the best option among different available alternatives on the basis of the values and judgment of the decision maker. The selected option should have the highest probability of success and should appropriately fits with the goals, objectives and mission of the decision maker. Effective decision making examines the uncertainty and risk about alternatives and allows choosing the best available option. Collection of information is the most important part in decision-making as it is the basis of reducing risk and making final decision (Luthans, 2005).

Group decision making

Group decision making is decision making by a group of people. It involves all the people of the group to anticipate into the situation and decide in a collective manner. Group decision making is generally more effective than individual decision making, as there are more judgmental reasoning with different viewpoint of different people. The Group decision making is challenging process and consumes more time and efforts than the individual decision making. As it is said that if there are three people with you in a room, you will receive four opinions. People of different background see issues differently and have different thinking, styles, values, needs and experiences. Urgent decisions are to be made quickly, and one or two people with required experience and expertise make the decision, without involving the whole team. This strategy is time effective and often used for quick or urgent decisions. For complex and important issues, team members perform decision making together to make effective decisions with minimum risk. Team consensus decision-making model is used for such type of decision making, in which each team member give input and individual opinions. Alternatives are discussed to make a final decision.

The effect of the decision-making group will be a variety of factors. Therefore, it is impossible to recommend the "Group decision making is always better," or the "Group decision making is always worse" than personal decision-making. For example, due to the increased diversity of the labor force, a large number of studies have focused on the diversity of the Group's operating performance. In general, this study shows that the diversity of the population can sometimes have a positive or negative impact on the specific circumstances. Different demographic groups may over-come social barriers and groups formed in the early stages of the difficulties may have very performance level. However, some studies have shown that different groups, if effectively managed, tend to have broader and more demographically homogeneous group decision-making than the quality of programs. Although there are many situational factors that affect the operation of the group, research provides some information about the relative strengths and weaknesses inherent in the group decision-making general guidance. The best decision making comes from interactions of people and groups who have conflicting goals. When people with different perspectives and goals provide input for a decision, the decision can resolve conflicts, garner support, and build loyalty in addition to resolving a concern ...