Decision Making Self-Analysis Assignment Example | Topics and Well Written Essays - 1250 words

Decision Making Self-Analysis - Assignment Example These two are the most basic models of decision making that inspire the whole process (Elham, 2010). The rational model involves four stages that ought to be followed when making decisions. These steps comprise of identifying the problem, developing solutions, choosing a solution and executing as well as assessing the solution. These four stages represent the whole decision making process and provide for the necessary dynamics that guarantee the effectiveness of the process. Each stage in the rational model is of immense significance to the holistic process and should therefore be approached with care in order to achieve effective results. This model has some shortcomings including the absence of sufficient information that hinders decision making and the reality that a problem could transform within a short period of time (Schoorman & Acker-Hocevar, 2010). The normative model indicates that decision making has a number of components that characterize its application. Among these fea tures include restricted information processing, judgmental heuristics along with satisficing. Limited information processing underscores that fact that at any given time only a restricted degree of data can be used or processed for decision making. Judgmental heuristics, on the other hand, involves that consideration for purposes of decision making shortcuts are applied to make the process simpler. Satisficing on the other hand implies the selection of solutions that are more convenient and satisfy minimum requirements (Elham, 2010). Each model has strengths and weaknesses, which point towards their effectiveness and applicability in the vast process of decision making. The rational model is more practical and is effective in dealing with problems that require a substantive decision for the long term. However, this model does not take into account some of the realities of decision making like the absence of adequate information along with the changing nature of problems. The normat ive model is convenient when dealing with challenging situation that need creativity and distinctiveness in order to develop the solution but could be disastrous when applied on practical and rational situations. How to Self-Assess Decision-Making Styles Self-assessment is a crucial parameter in the field of decision making because it provides for room through which the decision maker can evaluate their decision. There are various styles of decision making that apply to different situations and serve a different purpose. Each style of decision making has a unique approach to decision making in the sense that each has a distinct set of parameters that govern the process of making a decision. Therefore, in considering the various methods of self-assessment each style of decision making must be considered in order to optimize the results. Since each style has different methods of approach, it is obvious that the methods of self-evaluation change with each respective style (Schoorman & Acker-Hocevar, 2010). As a result, it is actually impossible to self evaluate a decision or the process of making a decision without being aware of the style applied in the process. Therefore, for the decision maker to evaluate his decision or the process applied the key consideration is the relevant decision making style. Once the style has been factored it becomes convenient for