Difference between revisions of "Decision-making"
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===Controlled vs uncontrolled=== | ===Controlled vs uncontrolled=== | ||
| − | + | :'''[[Controlled expectancy]]'''. A situation in which a decision maker is able to estimate the likelihood of certain outcomes. | |
| − | # | + | :#[[Certainty]]. A situation in which a decision maker can make accurate decisions because all outcomes are known. |
| − | # | + | :#[[Uncertainty]]. A situation in which a decision maker has neither [[certainty]] nor reasonable probability estimates available. |
===Internal vs external=== | ===Internal vs external=== | ||
| − | + | :'''[[Core self-evaluation]]'''. Bottom-line conclusions individuals have about their capacities, competence, and worth as a person. In other words, self-believing in one's inner worth and basic competence. | |
| − | # | + | :#[[General mental ability]]. An overall factor of intelligence, as suggested by the positive correlations among specific intellectual ability dimensions. |
==Approaches== | ==Approaches== | ||
[[File:Decision.png|400px|thumb|right|[[Decision-making approach]]]][[Decision-making approach]]. A particular manner of taking preliminary steps toward making a [[decision]]. | [[File:Decision.png|400px|thumb|right|[[Decision-making approach]]]][[Decision-making approach]]. A particular manner of taking preliminary steps toward making a [[decision]]. | ||
===Rational=== | ===Rational=== | ||
| − | + | :'''[[Rational decision-making]]'''. [[Decision-making]] that produces choices that are logical and consistent and maximize value. | |
| − | + | :*[[Rationale]]. A reasoning characterized by making consistent, value-maximizing choices within specified constraints. | |
| + | |||
===Intuitive=== | ===Intuitive=== | ||
| − | + | :'''[[Intuitive decision-making]]'''. Unconscious [[decision-making]] on the basis of distilled experience, feelings, and accumulated judgment. | |
| − | + | :*[[File:Intuition.png|400px|thumb|right|[[Intuition]]]][[Intuition]]. An instinctive feeling not necessarily supported by research. | |
===Ad hoc=== | ===Ad hoc=== | ||
| − | + | :'''[[Ad hoc decision-making]]'''. | |
| − | + | :*[[Design thinking]]. Approaching management problems as designers approach design problems. | |
| − | + | :*[[Heuristic]]. A rule of thumb that decision makers use to simplify [[decision-making]]. | |
==Tendencies== | ==Tendencies== | ||
| − | + | '''[[Decisional tendency]]'''. | |
===Optimizing vs. satisficing=== | ===Optimizing vs. satisficing=== | ||
| − | # | + | #[[Satisfice]]. Acceptance of solutions that are "good enough." |
===Conservative vs aggressive=== | ===Conservative vs aggressive=== | ||
| − | # | + | #[[Allostasis]]. Working to change behavior and attitude to find stability. |
| − | # | + | #[[Risk aversion]]. The tendency to prefer a sure gain of a moderate amount over a riskier outcome, even if the riskier outcome might have a higher expected payoff. |
==Process types== | ==Process types== | ||
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===Comprehensive vs shortcut=== | ===Comprehensive vs shortcut=== | ||
| − | # | + | #[[Bounded rationality]]. [[Decision-making]] that is rational, but limited (bounded) by an individual's ability to process information. In other words, [[bounded rationality]] is a process of making decisions by constructing simplified models that extract the essential features from problems without capturing all their complexity. |
| − | # | + | #[[Escalation of commitment]]. An increased commitment to a previous decision despite evidence it may have been wrong. |
==Considerations== | ==Considerations== | ||
| − | + | '''[[Decision-making dilemma]]'''. Optimizing vs. satisficing, intuitive vs rational vs ad hoc, Agile vs rigid, conservative vs aggressive, linear vs nonlinear | |
===Self-regulation=== | ===Self-regulation=== | ||
| − | + | :'''[[Self-regulation strategy]]'''. | |
| − | # | + | :#[[Prevention focus]]. A self-regulation strategy that involves striving for goals by fulfilling duties and obligations. |
| − | # | + | :#[[Promotion focus]]. A self-regulation strategy that involves striving for goals through advancement and accomplishment. |
===Ethics=== | ===Ethics=== | ||
| − | + | :[[File:Ethical-dilemma.png|400px|thumb|right|[[Ethical dilemma]]]]'''[[Ethical dilemma]]'''. A situation in which individuals are required to define right and wrong conduct. | |
| − | + | :*[[Ethics]]. Principles, [[values]], and beliefs that define what is right and wrong behavior. | |
| − | + | :*[[Behavioral ethics]]. Analyzing how people actually behave when confronted with [[ethical dilemma]]s. | |
Revision as of 22:56, 14 June 2020
Decision-making (alternatively spelled, decision making) is the action, process, and/or creative behavior of making decisions.
Classifications
Any decision is a choice made from among two or more alternatives. The criteria that define what's important or relevant to resolving a problem are known as decision criteria. The freedom to decide what should be done in a particular situation is known as decisional discretion.
Programmed vs non-programmed
- Programmed decision. Any decision to follow a policy, operative rule, another regulation, or to routinely repeat one's previous decision that has been made while handling a similarly structured task.
- Non-programmed decision (creative decision). A unique and nonrecurring decision that requires a custom-made solution.
Individual vs collective
- Individual decision-making. Decision-making made by an individual as opposed to group decision-making.
- Group decision-making.
Consequential vs sounding
Factors
Forced vs leisure
Controlled vs uncontrolled
- Controlled expectancy. A situation in which a decision maker is able to estimate the likelihood of certain outcomes.
- Certainty. A situation in which a decision maker can make accurate decisions because all outcomes are known.
- Uncertainty. A situation in which a decision maker has neither certainty nor reasonable probability estimates available.
Internal vs external
- Core self-evaluation. Bottom-line conclusions individuals have about their capacities, competence, and worth as a person. In other words, self-believing in one's inner worth and basic competence.
- General mental ability. An overall factor of intelligence, as suggested by the positive correlations among specific intellectual ability dimensions.
Approaches
Decision-making approach. A particular manner of taking preliminary steps toward making a decision.
Rational
- Rational decision-making. Decision-making that produces choices that are logical and consistent and maximize value.
- Rationale. A reasoning characterized by making consistent, value-maximizing choices within specified constraints.
Intuitive
- Intuitive decision-making. Unconscious decision-making on the basis of distilled experience, feelings, and accumulated judgment.
- Intuition. An instinctive feeling not necessarily supported by research.
Ad hoc
- Ad hoc decision-making.
- Design thinking. Approaching management problems as designers approach design problems.
- Heuristic. A rule of thumb that decision makers use to simplify decision-making.
Tendencies
Optimizing vs. satisficing
- Satisfice. Acceptance of solutions that are "good enough."
Conservative vs aggressive
- Allostasis. Working to change behavior and attitude to find stability.
- Risk aversion. The tendency to prefer a sure gain of a moderate amount over a riskier outcome, even if the riskier outcome might have a higher expected payoff.
Process types
Agile vs rigid
Linear vs nonlinear
Comprehensive vs shortcut
- Bounded rationality. Decision-making that is rational, but limited (bounded) by an individual's ability to process information. In other words, bounded rationality is a process of making decisions by constructing simplified models that extract the essential features from problems without capturing all their complexity.
- Escalation of commitment. An increased commitment to a previous decision despite evidence it may have been wrong.
Considerations
Decision-making dilemma. Optimizing vs. satisficing, intuitive vs rational vs ad hoc, Agile vs rigid, conservative vs aggressive, linear vs nonlinear
Self-regulation
- Self-regulation strategy.
- Prevention focus. A self-regulation strategy that involves striving for goals by fulfilling duties and obligations.
- Promotion focus. A self-regulation strategy that involves striving for goals through advancement and accomplishment.
Ethics
- Ethical dilemma. A situation in which individuals are required to define right and wrong conduct.
- Ethics. Principles, values, and beliefs that define what is right and wrong behavior.
- Behavioral ethics. Analyzing how people actually behave when confronted with ethical dilemmas.
