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Essay / Research Paper Abstract
This 5 page paper examines how decision making takes place, some of the theories if decision making, such as administrative man and confirmation theory, and how these result in different models that aid the decision making process such as game theory and Porters Five Forces model. The bibliography cites 7 sources.
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5 pages (~225 words per page)
File: TS14_TEdecmkg.rtf
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a range of factors, not only that style of the decisions maker, but also the context in which the decision is being made and the nature of the decision itself
(Pettigrew, 1990). Despite this, all process will have similar stages, even if the contents and relative important of each stage may vary. The main stages are to define the
problem, to consider the alternatives, to evaluate the best course of action and to make the decision. This process may take seconds, or may take months, depending on the context.
With this process there will also be three major components that are all present in the different models. The criteria, which are the standards that will be used by hose
making decisions to evaluate the alternatives, these have also been referred to as the interests (Simon, 1947). The next are the alternatives, which are the different options that may be
chosen and finally the aspect of cause and effect, these may be elements that are based on human assuming, of one thing is done another will occur, as well as
the attitude of the decision maker (Simon, 1947). The understanding of decisions making has developed and more stages and criteria may be present in some models, however, the older models
still remain as the basis of decision making theory, with most studies still looking at normative of descriptive models with many assumptions remaining untested (Papadakis et al, 1998).
The early decision making theories were based on the model of rational choices with the best option being adopted, and made assumptions that information was available and that man was
rational. The rational model saw a decision maker looking at all the options and then choosing one which was obviously the best (Simon, 1947). However, there were flaws with
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