All entries for Friday 19 April 2013
April 19, 2013
after i learned this module, i find make a decision is not an esay thing
there are five main reasons i conculued based on the journals i read to support my opinion.
Firstly, the most important thing I learned in this model is that decision-making is not an easy thing. Before this module, I think the decision making process is an easy process. The managers can make decisions after they control the situation of the company. After I took this module, I find good or bad are not only two criteria to judge the decision. There are lots of types of decisions such as robust. In addition, making a decision should follow five steps and meet the critierias.
Secondly, there are lots of alternatives can help the decision making to be more robust. Good examples to support it is that finance one can make the decision more robust such as cost benefit analysis, investment appraisal and the marketing one can help the managers know the current situation better such as, SWOT, PESTLE. Majority experts encourages using market tools instead of statistic tools to avoid bias.
Thirdly, the sequence and the combination of the decision-making alternatives are also very important. In the process of writing PMA, I rethink the process we made decisions. I found if we can consider more on the sequence of the alternatives using instead of investigating more alternatives, the results would be better. In addition, in the process of writing this PMA, I read lots of journals. The theories shown on the journals support my opinion.
Fourthly, having a good explanation on the results gain from the decision making techniques is the same important as choosing the suitable decision making methods. Having a good explanation not only depends on personal characteristics (risk lover V.S. risk adverse), but also depends on the personal experience. Some experts can investigate what¡¯s going on deeply below the surface. Thus, in the future, control all the decision-making alternative is important, but gather experience on decision making process is also important for us, if we cant to be a leader in the future.
Finally, the decision-making also depends on the time or situation. After having lectors and reading journals, as far as I considered, the criteria for decision making is changed based on the situation. In the common decision making environment, a more comprehensive decision making process would be better. While, quick decision making process is needed in the emergency. Thus, in the future, when we judge some decision making process, we cannot only see the result of it. We should see the situation it happened in.