Decision Making; Solvay Group: International Mobility and Managing Expatriates

The decision making process includes cognitive processes that eventually lead to a choice in action while taking into consideration the alternative possibilities (Allen, Dorozenko, & Roberts, 2016). Not all choices have to lead to an action. The values and preferences of the person making the choice also comes into play when making the final decision. Problem-solving to obtain a certain goal or satisfactory by a solution is the main reason people go through the decision making process (Stefaniak, & Tracey, 2014). This process has many factors that end with one final result or solution. The decisions made can be rational or irrational and can be determined by explicit or tacit knowledge (Qingyao, Dongyu, & Weihua, 2016). Since the decision making process can be very difficult at time, psychologists have viewed the process in different perspectives to get a better understanding (Rossi, Picchi, Di Stefano, Marongiu, & Scarsini, 2015). The different perspectives include; psychological, cognitive, and normative or communicative rationality.

Decision-making is an important process. It can be a task, which needs a simple decision to be made or a difficult situation involving several issues. In difficult situations, there may be uncertainty and complexities, wherein there may be interrelated factors that could lead to high-risk consequences, the impact of the decision made could be very important. Every situation will have its own set of uncertainties and consequences. Interpersonal issues too come in the way of making an effective decision, as it is difficult to predict how people will react to different situations.

Decision making is one of the most important aspects in life and work because of its strong link to success and effectiveness. Actually, successful people achieve their goals in life and work through effective and efficient decision making. The decision making process is usually guided by an individual’s beliefs, values, and attitudes as well concepts. While a person can use various concepts in making decisions, they should be very careful to select a concept that is effective and contributes to huge success. Nonetheless, these concepts exist to help an individual become a better decision maker in the world around him/her.

The Medicines Company used the saying “one man’s trash is another man’s treasure,” to the next level. It essentially took what other pharmaceutical companies place on the shelves and never use again as their next product which becomes a money maker. The idea is a great idea if it is well executed. The company cannot take just any type of drug and try to execute it pouring in millions of dollars’ worth of research and development because if the product is not chosen carefully, the product will fail. A simple failure for a drug that was not carefully selected, can damage the company’s image and reputation.

A decision is “a conscious choice of an alternative from a set of several others”. A person has the option to choose from different alternatives when making a decision. After a person makes a decision, he/she needs to evaluate it, analyses it and sees the outcomes. There are two types of decision making process; first, no-programmed decision making that refers to things a person has not done before, such as buying a car or a house. The second decision making process is programmed that involves things that we do on a daily basis such as eating or showering. In addition, group decision making involves brainstorming which is a way of collecting different ideas in order to take the best alternative to make a decision; then, consensus is

Decision making is about exercising the right to choose through the act of making up your mind and that act requires courage, entails responsibility and involves calculated risk.

itself had been going through a period of upheaval, would not approve Antegren. If this happened,

Decision making is the defined as the thought process of selecting a logical choice from the available options. When trying to make a good decision, a person must weigh the positive and negatives of each option, and consider all possible alternatives. For effective decision making, a person must be able to forecast the outcome of each option as well.

Generally, decision making is the cognitive process of selecting a course of action from among multiple options.

The three main elements of decision making consists of pure rationality, incrementalism, and limited rationality. There are key differences between the three theories, but they are essential to many corporations. Pure rationality is an orderly budget process that chooses the best alternative to increase sales from its resources. When problems arise, information about all alternatives are available for the actor(s) to pick the best solution unanimously. The rational model explains that pure rationality’s main objective is to maximize benefits and minimize cost with its resources. For example, if you are selling a MacBook laptop for $1,500.00 and you receive five offers, it will always result in optimal choice. This is a managerial aspect of decision making because actors want what is best for the organization. For each decision they make, the organization must take responsibility when there are

Decision making can be described as a process of making a decision or decisions, based on choices made amongst two or more competing course of actions. The ‘Decision making’ also requires making a define choice between two or more alternatives course of actions that are available.

According to the famous adage, “with great power comes great responsibility,” and this could not be more true than with decision making. As free thinking agents with rational abilities, everyday, humans are required to make choices/decisions, each varying in scale. The difficulty of decision making arises from the perceived losses or opportunity cost of the foregone option. Being rational creatures, individuals generally make choices which maximize value through determining the appropriate criteria for each decision, examining all available alternatives and establishing a fair method of of measuring how each alternative meets (or fails to meet) the criteria. This analysis leads to implementing solutions, which if evaluated appropriately, should lead the desired outcome. As simple as this may sound, in theory, there are many factors which influence the effectiveness of the decision making process. Each individual often faces limitations in the process and is subject to not only their environment but also their own biases.

Many methods have been developed to simplify the decision making process. In this paper, the rational model of decision making will be discussed first. Then, some of the factors that cause deviation in the rational

This report will discuss about the approach to rational decision making process. It discusses how an everyday problem faced by management can be tackled by using

The current study analyzes the challenges of expatriation and repatriation. After introducing the main aspects of expatriation and analyzing the main challenges the human resource managers face during this process an introduction and analysis of the repatriation process is made. The bachelor thesis uses a realistic method to analyze the quantitative primary data collected. After presenting and discussing the results from the questionnaires that were used to gather the