Decision making process

Decision making may take place by default, that is, whith out consciously recognizing that an opportunity for decision making exist. This fact leads us to a first elemen in a defenition of decisoin making. To have a decision making situation, there must be at least two alternatives avalaible.

Rational decision making:

We define the rational decision making process in terms of eight step:

1.       Recognition of a problem;

2.       Defenition of the goal or objective;

3.       Assembly of relevant data;

4.       Identification of feasible alternative;

5.       Selection of the criterion for judging which is the best alternative;

6.       Construction of the interrelationship between the objective, alternative, data and the criterion;

7.       Prediction of the outcomes for each alternative; and,

8.       Choice of the best alternatife to achive the objective.