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Business Research for Optimal Decision Making
Think about a recent business decision you have made that was either a success or a failure. Your supervisor asked you to email him/her a self-evaluation of this decision as part of your yearly evaluation. You are to be as objective and open minded as possible. Analyze your decision using Bazerman`s six steps as a guide: define the problem, identify the criteria, weigh the criteria, generate alternatives, rate each alternative on each criterion, compute the optimal decision. Make sure your email addresses the following issues:
Were there any discrepancies between the calculated "optimal" decision and your actual (or favored) decision? If so, what might account for the discrepancies?
What problems, if any, did you encounter when completing the steps? (For example, were you able to compute an optimal decision? If not, why not?)
Are there any weaknesses in the "fully rational" model of decision-making? If so, what are they?
Bazerman, M. H. (2006). Judgment in Managerial Decision Making (6th ed.). New York: Wiley.