The paper “ Decision Making Approaches, Management and Organisational Behavior” is an actual example of the case study on management. The paper herein begins with a brief introduction to the context of decision making and the factors that play out in the process of choice. Then an expansive explanation is made regarding the aspect of rationality. Rationality is presented as a viable attribute towards objective decision making and taking actions based on reason. The aspect of bounded rationality is briefly discussed with some limitations noted that render some of the decisions made fail to be effective in addressing the intended goals.
Intuitive rationality is well exemplified as the third approach to decision making. Under this approach, the beliefs of an individual and their own interpretation of knowledge have the biggest bearing of the selection of the best alternative. The limitations of the approach are also stated. An example is formulated, solved, and explained representing a case of decision making using the decision tree approach. The second illustration involves a case of rationality using the payoff matrix. Finally, an illustration is made regarding the intuitive approach to decision making.
Based on the findings and discussion ensuing a conclusion is made in light of the literature reviewed in the subject area. IntroductionModern organizational decision making is a complicated task given the numerous decision variables that need to be put into consideration. The complexity revolves around determining whose interests among the many stakeholders should be met first. The interests of the entity aside, other stakeholder interests have to be incorporated in any course of action chosen. Equally explosive is the debate as to which principles should be applied in taking organizational decisions. The circumstances that one finds himself/herself have the greatest dimension in evaluating decisions.
In this regard, a decision will be ranked as appropriate if going by the prevailing conditions; it is the best course of action. The circumstances can either call for an action to capitalize on an opportunity or to fix a stringent problem as it was the case then. A move is therefore justified if it adds value to the company considering all factors (Holloway 1998).
Elstein, A.S., Holzman, G.B., Ravitch, M.M. Metheny, W.A., Holmes, M.M., Hoppe, R.B.,
Rothert, M.L., & Rovner, D.R. (2003). Comparison of physicians’ decisions regarding oestrogen replacement therapy for menopausal women and decisions derived from a decision analytic model. In J. Dowie & A. Elstein (Eds.), Professional judgment. A reader in clinical decision making. Cambridge, UK: CUP.
Gerrity P. (2000). Perception in nursing: The value of intuition. Holistic Nursing Practice, l (3),
Holloway C.A. (1998). Decision Making Under Uncertainty: Models and Choices, Englewood
Cliffs, NJ, Prentice-Hall.
March J.G. (1994). A Primer on Decision- Making. New York: Free.
Pellegrino, E.D. ( 1998). The anatomy of clinical judgments. Some notes on right reason and
right action. Dordrecht: Reidel.
Quattrone GA, Tversky A. (2003). Contrasting rational and psychological analyses of political
choice. Am. Polit. Sci. Rev. 3: 719–36.
Young C. (2000). Intuition and Nursing process. Holistic Nursing Practice, l (3), 52-62.