Decision Making
Instructions
Develop a paper that demonstrates the application of the following concepts to decision-making: The steps involved in the decision-making process Systems thinking Processes in terms of simplifying decision-making Common biases in judgment and decision-making Bounded rationality as it applies to decision-making and negotiation
Answer
Introduction Decision making involves making of alternatives by identifying a problem, collecting information, and evaluating available solutions. Therefore, there are steps that need to be followed for the best choice to be selected. However, when making decisions, people need to simplify the process by applying simpler processes. They also need to make sure that there is no bias that will affect the decision-making process. The paper hence discusses the steps of decision making, biases involved in the process, systems thinking, and bounded rationality as applied to decision making and judgment. Steps of decision making The steps used to make decisions helps one make thoughtful and deliberate judgments. Identifying the decision is the first step. A person needs to define the nature of the...
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