Critical Decision Making in Management Research Paper

Critical Decision Making in Management
The paper explores critical thinking and decision analysis, focusing on the challenges that managers face.
# 129084 | 8,193 words | 15 sources | APA | 2010 | KE
Published on Aug 31, 2010 in Philosophy (Logic) , Business (Management) , Psychology (Theory)


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Description:

This paper provides an in-depth exploration of critical decision making, focusing on the challenges faced by managers. The paper asserts that the making of good decisions and avoiding bad ones is a skill that is acquired over time, as the manager is exposed to critical decision problems that require positive outcomes. The paper discusses the guiding principles of critical decision making, various theories and research studies on the subject, and how emotions affect decision making. The paper also introduces and describes myriad methods of decision analysis. The paper concludes that individuals charged with the decision making process should strive for decision outcomes that reflect the goals and objectives that had been formulated before the decision making process began.

Outline:

Introduction
Definition of Critical Decision Making
Background Information on Critical Decision Making
Theoretical Work on Critical Decision Making
Simon and March's Studies in Decision Making
Kahneman and Tversky's Contribution to the Decision Making Process
Naturalistic Method of Decision Making
Rappaport's Theory of Decision Making
Models for Critical Decision Making
The Role of Emotions in Decision Making
Decision Making Techniques
Elementary Methods of Decision Making
Pros and Cons Analysis
Maximin and Maximax Methods of Decision Analysis
Lexicographic Method
Conjunctive and Disjunctive Methods of Decision Analysis
Decision Trees
Analytical Hierarchy Process (AHP)
Cost Benefit Method of Decision Analysis
Multi Attribute Utility Theory (MAUT)
Simple Multi Attribute Rating Technique (SMART)
Outranking Method of Decision Analysis
Role of the Decision Techniques in the Signal Corps
Conclusion
References

From the Paper:

"Outranking methods allow for the intransivities in criteria weightings and for the consideration of alternatives that cannot be compared. Multiple points of view can be represented when this technique is used by representing different stakeholders with different intercriteria weightings. The sensitivity of the order of alternatives to the intercriteria weightings allows for simple investigation by calculating a stability interval over which any one of the weighting criteria may be adjusted without altering the ordering outcomes."

Sample of Sources Used:

  • Baker, D., Bridges, D., Hunter, R., Johnson, G., Krupa, J., Murphy, J. and Sorenson, K. (2002) Guidebook to Decision-Making Methods, Department of Energy, USA. Retrieved 18 June 2010 from: http://www.dss.dpem.tuc.gr/pdf/Decision%20Making%20Guidebook_2002.pdf
  • Byrnes, J.P. (1998) The nature and development of decision making: a self regulation model. New Jersey: Lawrence Erlbaum
  • Carsrud, A.L. & Brannback, M. (Eds) (2009) Understanding the entrepreneurial mind: opening the black box. New York: Springer Science and Business Media
  • Davis, P. K., Kulick, J & Egner, M. (2005). Implications of Modern Decision Science for Military Decision-Support Systems. Rand Corporation.
  • Edwards, W. and Barron, F.H. (1994) SMARTS and SMARTER: Improved simple methods for multi-attribute utility measurements, Organizational Behavior and Human Decision Processes, 60, 306-325.

Cite this Research Paper:

APA Format

Critical Decision Making in Management (2010, August 31) Retrieved August 10, 2020, from https://www.academon.com/research-paper/critical-decision-making-in-management-129084/

MLA Format

"Critical Decision Making in Management" 31 August 2010. Web. 10 August. 2020. <https://www.academon.com/research-paper/critical-decision-making-in-management-129084/>

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