Discuss rational decision making model with example?

Answer 1

A rational decision making model provides a structured and sequenced approach to decision making. Using such an approach can help to ensure discipline and consistency is built into your decision making process.

As the word rational suggests, this approach brings logic and order to decision making. Our rational decision making model consists of a series of steps, beginning with problem/opportunity identification, and ending with actions to be taken on decisions made. A General Rational Decision Making Model Rational decision making processes consist of a sequence of steps designed to rationally develop a desired solution.

Typically these steps involve:

Identifying a problem or opportunity

The first step is to recognise a problem or to see opportunities that may be worthwhile. A rational decision making model is best employed where relatively complex decisions have to be made. The first decision making lesson should be to ask youself if you really have a problem to solve or a decision to make. Gathering information

What is relevant and what is not relevant to the decision? What do you need to know before you can make a decision, or that will help you make the right one?

Analyzing the situation

What alternative courses of action may be available to you? What different interpretations of the data may be possible? Developing options

Generate several possible options. Be creative and positive.

Evaluating alternatives

What criteria should you use to evaluate? Evaluate for feasibility, acceptability and desirability. Which alternative will best achieve your objectives?

Selecting a preferred alternative

Explore the provisional preferred alternative for future possible adverse consequences. What problems might it create? What are the risks of making this decision?

Acting on the decision

Put a plan in place to implement the decision. Have you allocated resources to implement? Is the decision accepted and supported by colleagues? Are they commited to to making the decision work?. Strengths and Weaknesses of the Rational Decision Making Model The main strength of a rational decision making model is that it provides structure and discipline to the decision making process. It helps ensure we consider the full range of factors relating to a decision, in a logical and comprehensive manner.

However, we should always remember that whilst the model indicates what needs to be done, it's often how things are done that characterizes effective decision making.

Research illustrates that bad decisions were usually bad because two things were missing: adequate participation of stakeholders in the decision making process; sufficient time spent generating a range of possible solutions.

Answer 2

The rational decision making model involves identifying all possible options, evaluating them based on criteria, choosing the best option, and implementing it. For example, when choosing a new laptop, one might list different brands and models, compare their features and prices, choose the laptop that best fits their needs and budget, and then make the purchase. This model helps individuals make logical and informed decisions based on available information.