Question

Topic: Career/Training

What Are The Different Ways Of Decision Making?

Posted by Anonymous on 1/6/2005 at 8:37 AM ET 250 Points
People make decisions all the time. What are the different ways of analyzing issues and available information to come up with the best decision one can make for a given situation and circumstance? For this question the description of situation is not important.

I am looking for unique thought processes that work for any situation. And yes many people make decisions by the seat of their pants but that I would not call a process.

Thanks.
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RESPONSES

  • Posted by ReadCopy on 1/6/2005 at 8:50 AM Accepted
    The process I have always followed is this.

    STEP 1: Problem Recognition - anticipation that you or a business needs something.

    STEP 2: Problem Definition - definition of the problem in detail.

    STEP 3: Solution Specification - the preferred approach to the solution.

    STEP 4: Supplier Search - search for and qualification of potential suppliers.

    STEP 5: Supplier Assessment - assessment of suppliers proposals/tenders.

    STEP 6: Supplier Selection - selection of supplier(s) to provide the solution needed.

    STEP 7: Place Order - Place order with chosen supplier(s).

    STEP 8: Review - review the buying decision.

    I always use this as a basic model, then tweak it for my requirements, so:

    If you want a new widget and never bought one before, you go through all Steps.

    If you have bought a widget before, but now need (for example) a cheaper supplier, you go through Steps 3 to 8.

    If you have bought a widget before and just want a simple 're-buy', then you go through Steps 6 to 8.

    I hope this makes sense and is useful to you as a starting block.
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