Rational Decision Making Model Essay -- Decisions Rationality Essays

Rational Decision Making Model Abstract What is a decision? The word decision can be defined as, â€Å"the act of reaching a conclusion or making up one's mind† (American Heritage, 2000). Essentially, a decision is a choice that an individual or a group of people makes. A decision can be a single action, an entire process, or even just a single spoken word or gesture. Decision-making is one of the defining characteristics of leadership. Making decisions is what managers and leaders are paid to do, and is an integral part of their day’s duties. The affects of decisions can range from minor in consequence to life or career threatening. Regardless of the consequences, it is important to understand when a decision needs to be made and the best way to make it. This paper will focus on the Rational Model for decision-making. The first section will describe the Rational Model for decision-making. It will identify all the steps of the Rational Model and what they entail. The second section will detail a recent job-related issue I was involved with. I will discuss the issue and show how the Rational Model of decision-making was effectively utilized to reach a decision. Decision Making Model – The Rational Model A decision is a solution chosen from among alternatives. Decisions must be made when a person is faced with a problem or an issue that needs resolution. Decision-making is the process of selecting a course of action (ideas or alternatives) that will solve a problem and resolve any issues. Decision-making models provide people with a method for making decisions. There are numerous decision-making methods people utilize today. Some are meant to be all encompassing, meaning they can be utilized in many different environments. Others are specific to issues or industries, such as technology, psychology, and mathematics. Regardless of the problem, there is usually a decision-making process that is best suited for any situation, and it is up to us to find it. The Rational Model Definition   Ã‚  Ã‚  Ã‚  Ã‚  According to the School of Information Sciences and Technology at Penn State University, the Rational Model of decision-making, â€Å"requires comprehensive problem definition, an exhaustive search for alternatives, and thorough data collection and analysis. According to this model, information exchange and communication are unbiased, and accurate decision alternativ... ...ch a decision. One of these models is the Rational Model. The benefit of utilizing the Rational Model to reach a decision is that it is easier to justify and defend a decision, due to the complexity and the thoroughness of the processes involved. The Rational Model is useful for developing a strong business case for why a specific course of action should be considered anytime a major business, or even personal decision must be made. References American Heritage Dictionary of the English Language, The (4th ed.). (2000). Houghton Mifflin.   Ã‚  Ã‚  Ã‚  Ã‚  Retrieved June 26, 2005 from the World Wide Web: http://dictionary.reference.com/   Ã‚  Ã‚  Ã‚  Ã‚  search?q=decision Penn State Univ., School of Information Sciences and Technology. (2003, February 21).   Ã‚  Ã‚  Ã‚  Ã‚  Information Processing and Decision Making. Retrieved June 26, 2005 from the World   Ã‚  Ã‚  Ã‚  Ã‚  Wide Web: http://solutions.ist.psu.edu/rd/projects/110_2003/courses/110/content/   Ã‚  Ã‚  Ã‚  Ã‚  02_05_01.html University of Houston Victoria, The. (2005, June). Problem Solving. Master of Business   Ã‚  Ã‚  Ã‚  Ã‚  Administration New Student Orientation. Retrieved June 26, 2005 from the World Wide   Ã‚  Ã‚  Ã‚  Ã‚  Web: http://www.uhv.edu/bus/new/orientation/creative.htm