Decision Making and Branding



Decision Making and Branding

What is heuristic type of decision and how does it differ from the more logical or linear analytical type of decisions?

Heuristic Type of Decision

Heuristic type of decision is a method that is time-tested methods of finding and implementing various solutions through dialogue and negotiations. Heuristic method based on logic, common sense, and experience, in which it reveals significant new information. Heuristic and substantive processing require more open-ended information search, and AIM predicts that such processing will involve more influence of affect.

Once a problem has been formulated with objective function and constraints, a solver used to find an optimal solution. Exact solution methods such as integer or linear programming, branch and allied approaches, and Lagrangian relaxation often have limited success, given that an increase in the number of variables will cause an exponential increase in the solution time. In some instances, the size of a spatial problem can create a combinatorial explosion, and heuristic search techniques preferred. Heuristics are algorithms that are able to find a solution (optimal or not) for a given problem in a short time frame. Some heuristics reach a suboptimal solution rapidly (e.g., myopic or naive strategy), while others can lead to an optimal solution at the cost of a longer running time. Limited research has been devoted to the benefits and drawbacks of several heuristics and metaheuristics (combination of heuristics) in the context of spatial optimization.

Difference

There is a significant difference between the decisions formed by heuristic decisions and more reasoned and linear analytical decision. The heuristic decisions based on an intuition and experience and other decisions based on a structured process of decision making. The first level defined as a common solution, which requires the presence and development of key skills such as strict adherence to the procedure, a reasonable assessment of the situation, humane leadership and supervision, motivation. In making such decisions the manager behaves in accordance with the existing program, which is much like a computer that recognizes the situation and acts in a predictable manner. Function manager is to "feel" and identify the situation and then take responsibility for initiating certain actions. Difficulties may arise if the manager or the entrepreneur does not possess the instinct that interprets existing guidance on situation. They acts illogically and take wrong decisions or does not provide forceful action at the right time.

Levels of Decision Making

At the next level, solution is selective and requires the following key skills: setting goals, planning, development analysis and information analysis. At this level requires initiative and freedom of action, however, within certain limits. Here, the manager evaluates the merits of a range of possible solutions and tries to choose from a number of well-established alternative actions, those that best suited to the problem. Effectiveness depends on the ability of managers to choose a course of action that is likely to be the maximum acceptable cost-effective. For example, the head of production department operates in fairly available conditions and must make choices among ...