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Decision Making

Decision Making is an management approach and process of selecting the most logical choice from the available options to create the best situation.br />

Decision Making is an management approach and process of selecting the most logical choice from the available options to create the best situation.br />

Making decisions is a common thought process within modern management. Every professional or manager makes hundreds of decisions in the challenging environment where he or she works.

It is an important process because he or she has to determine both organizational and managerial activities and priorities, based on their time, resources and other influential variables.

Decisions on management level are important because they often are related to business activities, organizational functioning and business goals. There have been lots of scientific and practical studies on the process from a learning point of view.

What are the most known and used models and methods? What are their success stories and practical tips when you apply these? These posts are all about great theories, methods and famous tools and can help you to achieve your goal or understand certain aspects of made decisions.

Prospect Theory (Tversky & Kahneman)

January 9th, 2018

This article explains the Prospect Theory by Amos Tversky and Daniel Kahneman in a practical way. After reading it, you will understand the basics of this powerful Decision Making tool. What is the Prospect Theory? The Prospect Theory is a…

Delphi Technique

December 5th, 2017

This article describes the concept of the Delphi Technique, developed by RAND Corporation in a practical way. After reading you will understand the basics of this powerful decision making and problem solving tool. What is the Delphi Technique? The…

RAPID Decision Making Model

July 25th, 2017

This article describes the concept of the RAPID Decision Making Model, developed by Bain & Company in a practical way. After reading you will understand the basics of this powerful decision making tool. What is the RAPID Decision Making…

Analytic Hierarchy Process (AHP)

July 17th, 2017

This article describes the Analytic Hierarchy Process by Thomas L. Saaty in a practical way. After reading you will understand the basics of this powerful decision making tool. What is the Analytic Hierarchy Process? It is not always easy for…

Critical Thinking

July 10th, 2017

This article describes the Critical Thinking in a practical way. After reading you will understand the basics of this powerful type of decision making. What is Critical Thinking? Nowadays, we are bombarded with information from social media and other…

Decision Tree Analysis

February 27th, 2017

This article describes the Decision Tree Analysis in a practical way. After reading you will understand the basics of this powerful decision making and process analysis approach. This article also contains a downloadable and editable Decision Tree Analysis template. What…
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