Methods of decision-making

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[...] A few of the actual procedures in decision-making include, bounded rationality, biases and errors, and intuition. Decision- making can be a long and difficult process when trying to find the best possible solution. Therefore, an individual will find a solution that is gratifying rather than the best possible. This is known as bounded rationality. Decision-making with bounded rationality can have a negative outcome when the best possible choice is not made. In organizations biases and errors also play a part in decision-making. [...]

[...] Reality is most decisions are not always based on a logical thought process in organizations. Understanding the factors of perceptions and decision-making can be a valuable tool to any individual. The knowledge of how to evaluate a person or situation can produce positive outcomes in decision-making. In the process of making a decision a well-balanced decision maker should include defining, identifying, allocating, developing alternatives, evaluating alternatives and selecting the best conclusion. In a management position employees should be valued by their individual characteristics and not be falsely judged. In business [...]

[...] Methods of decision-making All individuals make perceptions in their own way based on different individuals and assorted situations. A perception is defined as how people view others or objects by interpreting an impression to give meaning to their surroundings. Perception is the process of organizing ones sensory data. An individual's brain is flooded with enormous amounts of information gathered by senses, in which a human could only spontaneously process. Perception plays an immense role in the course of decision-making. The process of decision-making is dependent on several aspects which may change ones perception. [...]