The Rational Decision-Making Process

For a real-world test of their theory, the lab’s researchers went into that great modern arena of decision making: the suburban mall. They interviewed shoppers about their experiences in the stores that day and then asked them to solve some simple arithmetic problems. The researchers politely asked them to do as many as possible but said they could quit at any time. Sure enough, the shoppers who had already made the most decisions in the stores gave up the quickest on the math problems. When you shop till you drop, your willpower drops, too.

In extension, the decision-making process is often a group process.

  Objectives ✤ To describe the decision making process ✤ To practice decision making

How independent do you think the unit is in terms of decision making?

Once you’re mentally depleted, you become reluctant to make trade-offs, which involve a particularly advanced and taxing form of decision making. In the rest of the animal kingdom, there aren’t a lot of protracted negotiations between predators and prey. To compromise is a complex human ability and therefore one of the first to decline when willpower is depleted. You become what researchers call a cognitive miser, hoarding your energy. If you’re shopping, you’re liable to look at only one dimension, like price: just give me the cheapest. Or you indulge yourself by looking at quality: I want the very best (an especially easy strategy if someone else is paying). Decision fatigue leaves you vulnerable to marketers who know how to time their sales, as Jonathan Levav, the Stanford professor, demonstrated in experiments involving tailored suits and new cars.

Something settled or resolved; the outcome of decision making.

Based on these expectations and in accord with its defined function, the judicial process is deliberately organized to “disconnect” it from the rest of the community. The judicial system ordinarily does not have direct lines of accountability to the political authorities. (In some American states where judges are elected for short terms obviously this is not so.) This independence of the judicial system from the community is based on the need for dispute deciders who are not subject to outside instructions or coercion. Both realist and orthodox analyses support this independence in order that those who come before the judges may have a hearing by a tribunal free to make a decision on the basis of the evidence and arguments presented to it. The orthodox ideology has the additional ad vantage of squaring this judicial independence with the principles of democratic politics, for portraying the judges as technicians who do not participate in the resolution of policy conflicts makes it unnecessary to hold them politically accountable.

Heuristics can be mental shortcuts that ease the cognitive load of making a decision.

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By managing time well, managers are better able to solve problems quickly, make decisions, avoid frustration, keep from getting bogged down in day-to-day tasks, handle crises, work on their goals and priorities, and manage stress.

Every decision-making process produces a final  that may or may not prompt action.

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It may also extend to control mechanisms for guiding the implementation of the strategy.

concerns the ‘content’ of strategy – initiatives, choices, policies and decisions adopted in an attempt to improve performance, and the results that arise from these managerial behaviors.

- Failure to prepare means that you're preparing to fail.

is a model of the planning process involving a number of rational actions or steps....Definition of the problems and/or goals; Identification of alternative plans/policies; Evaluation of alternative plans/policies; Implementation of plans/policies; Monitoring of effects of plans/policies.

focuses on creating the future by designing a desirable present.

There is always going to be some level of risk, but you have to make a decision.

Consumer Behavior: The Psychology of Marketing

The phenomenon also holds that a group's attitude toward a situation may change in the sense that the individuals' initial attitudes have strengthened and intensified after group discussion, a phenomenon known as .

(SDM) is an approach in which communicate together using the best available evidence when faced with the task of making decisions.

They have to make decisions based on information that is both overwhelming and incomplete.

A Kyoto Protocol unit equal to 1 metric tonne of CO2 equivalent

We have no way of knowing how much our ancestors exercised self-control in the days before BlackBerrys and social psychologists, but it seems likely that many of them were under less ego-depleting strain. When there were fewer decisions, there was less decision fatigue. Today we feel overwhelmed because there are so many choices. Your body may have dutifully reported to work on time, but your mind can escape at any instant. A typical computer user looks at more than three dozen Web sites a day and gets fatigued by the continual decision making — whether to keep working on a project, check out TMZ, follow a link to YouTube or buy something on Amazon. You can do enough damage in a 10-minute online shopping spree to wreck your budget for the rest of the year.