All entries for Monday 14 March 2011

Making decisions by using different tools

In dealing with the Waveriders problem, our team used a number of tools to ensure that our decision is robust. In the process of decision making we got to know that single tool can lead to a decision which might be not so reliable. By using different tools, the chances of making the best and robust decision increses a lot. If there is conflict of answers by using different tools, the decision can be analyzed again in more depth. If they complement each other then one can go ahead with decision with more confidence. As we studied in the class, humans are generally not good at decision making. Making robust decions is very important, specially in the context of organization decision making. By using a range of different tools, a robust decision can be made.

: 14 Mar 2011 00:25 |  Comments (0) |  Close comments |  Report a problem