During the team work for Robust Decision Making Module, we were using the tools which we learnt at the beginning of the module to take managerial decisions. In the lecture, I understood and assumed that those tools are decisive, which means we can reach distinct and precise results when we used them. However, in the team work, I faced that those tools provide only the trade-offs between alternatives and they are helpful to analyse the alternatives. For example, when we used the decision tree, we get one result as that alternatives are similar in terms of their cash flows, on the other hand, we got another result, when we used the AHP Analysis. Because criteria are changing in the tools and their weights are changing. Therefore, tools are used for support our decisions and create more logical way to reach a decision.
At that time, I realized that decision making process can be effected by individual biases even using qualitative and quantitative tools as SMART, AHP and SWOT analysis etc. However, working as a team reduces the possibility of falling into those biases. Because, when someone trying to lead the project toward to personal ideas, he or she need to convince the rest of the team. So it makes the decisions more robust by eliminating unsupported and personal bias ideas.
Moreover, while we were working for the project, we learnt how to apply tools which we learnt in the study week of the module. In the other words, those tools was very theoretical before we used them as practical. Furthermore, we experienced that which tools are more appropriate for which kind of decisions and which one is not very useful. For instance, we didn’t used the SMART analysis for location decision, because of having two options. Which is less likely to eliminate the non-dominant options with two alternative. Instead of using Smart, AHP has more coverage for two alternative with many considerable criteria decisions, or pair analysis is also useful for that kind of decisions.
Additionally, working as a team for decision making process makes the process less focus on decision more focus on tools and processes themselves. By identifying criteria to analyse alternatives, we had a chance to evaluate other criteria apart from cash flow. We followed decision making process steps and it provided us to see the system as a whole and define the important criteria with their importance weights. For this reason, we had a decision making process by not just focusing on profit or cash flow. That made the decision by supported enablers, not only business result oriented…