Sample Business Studies Paper on Models of Strategic Decision Making

Models of Strategic Decision Making

Hello,

Your post is quite informative and I can also say possibly reliable. You have used strong pieces of evidence from multiple sources to effectively explain the practice of decision making, and I am certain that the discussed methods are not only effective but also suitable for use in diverse context. Decision making is an inevitably important practice both in the corporate environment and in conventional social life (Negulescu and Doval 2014). The process is often faced by challenges, the most common being diversity in circumstantial complexity and temporal differences (Negulescu and Doval 2014). I would therefore say that there is no definite decision making model that can be applicable in any given environment. On the contrary, I believe that effective decision making requires a consideration of the circumstances surrounding the need for decision making. The choice of a decision making framework should therefore be dependent on the circumstances surrounding the problem to be solved.

The creative decision-making model is one of the models that can be used in a variable complex environment at different times. Verma (2014) describes the creative decision making process as beginning with problem recognition. Where the decision making is not aimed at problem-solving but rather at change initiation, the first step would be the recognition of the need for change. The second step is the immersion step in which the decision-maker studies the issue at hand within its context and breaks it down to easily comprehensible parts. This is followed by an incubation phase in which the individual/group making the decision sets aside the problem and thinks subconsciously about possible decisions (Verma 2014). The incubation ends in an illumination, where a possible solution is identified. The final stage in this decision making model is the verification and application stage where the decision made is communicated to the relevant parties for implementation. Patrick, Steele and Spencer (2013) report that the creative decision making process is largely similar to all the other decision making models including relational and incremental models. They all start with the problem identification and end with the solution verification and implementation.

The similarities between different decision making models should therefore be considered as an indication that depending on the time and complexity of the circumstances surrounding the decision, the right model has specific mandatory attributed. The most important question to answer therefore is: What attributes should a good decision embody, and are they universally applicable to all decisions?

Bibliography

Negulescu, O and Doval, E 2014. The quality of decision making process related to organizations’ effectiveness. Procedia Economics and Finance, vol. 16, pp. 858-863. Available from: <https://www.sciencedirect.com/science/article/pii/S2212567114005486>. Accessed on 28 March 2020.

Patrick, J H, Steele, J C, and Spencer, MS 2013. Decision making processes and outcomes. Journal of Aging Research. Available from: <https://www.hindawi.com/journals/jar/2013/367208/>. Accessed on 28 March 2020.

Verma, D 2014. Study and analysis of various decision making models in an organization. IOSR Journal of Business and Management, vol. 16, no. 2, pp. 171-175. Available from: <http://www.iosrjournals.org/iosr-jbm/papers/Vol16-issue2/Version-1/X01621171175.pdf>. Accessed on 28 March 2020.