Decision Making Process

Various steps in the decision making process:

• Identify your goal
• Consider the consequences, why you need to take the decision
• Gather information about the various factors impacted by the decision, talk to the various stakeholders
• Do a comparison (pros and cons) of all the options
• Make the decision.
• Evaluate the decision, incorporate learning in future decision making

MBA (management) question on Decision Making Process:

Q) Mr. Ajay wants to purchase new printers for the organization as the current printers are outdated and the cost per print is high. Whenever the printers stop working the service provided from the company is very poor. It takes them seven days to resolve minor issues. This is affecting the productivity of people. There are seven departments and all the departments’ printer need to be replaced. Explain the decision making process that Ajay should follow for purchase of best printers for the organization.

Q) Enumerate the decision-making process you would go through in the following 2 purchase scenarios. Classify each of the scenarios into Nominal/Limited/Extended Decision Making.
a. Buying your first car with the savings you have accumulated over the last year.
b. Buying a new pair of running shoes.

Q) Mr. Rathi, a Tax consultant has advised you to invest in property to save money in taxes. You have been paying a lot of money through taxes, so you take his advice and now plan to buy a new house for investment purpose. Explain various steps that you will go through in making a decision for purchasing a new house.

Q) There are three models of decision making, explain the model that will apt for purchasing a house. Explain the same with reason. Also, suggest the reason for not accepting the remaining models for purchase of the house.

Q) a. As per Maslow’s need of hierarchy model where do you stand in the model if you
are:
Situation A: Purchasing the house for your personal stay and usage.
Situation B: Purchasing the house for investment purpose.
Explain the above given points with detail reasons.

Q) b. As per Alderfer’s ERG Model where do you stand in the model if you are:
Situation A: Purchasing the house for your personal stay and usage.
Situation B: Purchasing the house for investment purpose.
Explain the above given points with detail reasons.

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