Essay: Decision Making Techniques
Several decision making techniques are at the disposal of managers. The most common decision making are the T- charts, Plus Minus and Interesting (PMI) and Buridens Ass. These three techniques are simple and involve making a positive or negative, yes or no and pros or cons of a decision. The other decision making technique include weighted decision table, pareto analysis, force field analysis six thinking hats and the measured criteria among others (Eddowes, Stansfield, 1990).
The decision making tools help managers to choose the option wisely by prioritizing the available options. The most common decision making tools are the nominal group technique and multivoting. Multivoting is employed when reducing the number of long list to come up and with the most likely alternative options. The other decision making tools include the Vroom- Yetton—Jago decision model, impact analysis, the Delphi technique among many others. (Vance 2002).
According to Bhushan, Rai (2004), the decision making process comprises of a clearly defined process which when applied by the manager along with the decision making tools and techniques enables them to make the best decision for the managers.