GO INTERNATIONAL

Emotional Decision Making

Executive Summary2

Key Areas of Research3

Key Theoretical Positions7

The Loewenstein-Lerner Classification7

Anticipated Emotions7

Immediate Emotions8

Pfister and Böhm's Framework9

Providing Information9

Improving Speed10

Assessing Relevance10

Enhancing Commitment10

Key Conclusions and Findings11

Critical Observations and Commentary13

Key Topic Issues15

Conclusion17

References18

Emotional Decision Making

Executive Summary

Decision making is the process which includes selecting a course of action among several alternative options. The process of decision making include assessing various alternatives through the information available for the individual, and makes a best possible decision based on the rational or emotional grounds. These both factors of decision making have a different approach, where rational approach uses a mental process and emotions are driven by soft approach. This paper is based on identifying and examining the impact of emotional approach in the decision making process. The decisions based on emotional grounds also include biases. Such biases are caused due to the change in behavior of each individual. There is also a belief that the decision taken for self will always be best for all the other people.

The paper is based on analyzing the approach of GO international, a Canadian travel company, which focuses its marketing decisions on emotional grounds. The company is more focused on making the decisions that not only benefit them but also benefit all the parties associated with the company. They believe that while they care about their customers and employees, they will automatically be attracted towards the company. This paper links the approach used by the company and prepare a theoretical framework which supports the emotional decision making.

There includes a cognitive science behind the decision making process, which according to the researchers, is influenced by the emotional response and intuition of the individual. We often find ourselves in a situation which creates several options to select from. This is the time when human mind start to dig out the consequences associated with each of the options. We as a human being tend to follow emotional approach in most of the cases. The emotional approach can bring results from both the perspectives, such as positive outcomes as well as negative outcomes. There also include the time limitation associated with making any particular decision (Seo & Barrett, 2007). Time constraint also forces the individual to follow emotional approach. However, it does not mean that emotional decision making approach cannot be adopted. Organizations just require assessing where there is a need of rational approach and where there is a need of emotional approach.

It also focuses on examining different models proposed by the researchers and critically review the theories presented by them. Furthermore, the paper has also drawn attention towards the use of emotional decision making by the organizations, their benefits, and risks associated with them. It tends to identify the key factors involved in the decision making process that are going to be impacted by the decision. The theoretical approach for emotional decision making provides good background knowledge about the topic, and help in assessing how the selection process can be altered by using this approach.

Key Areas of Research

The research is intending to find out the impact ...