Factors Impacting Decision Making and Indecision
University of Minnesota
This is a discussion on the dynamics of decision making and indecision and their impacts. It offers an overview in decision theory and its evolution through decision frameworks that have been analyzed and developed to accommodate the ever-changing individual and environment. This is a comprehensive look at the underlying influences on the decision making process. It reaches the span across different specialties from biological to personality. Within those areas it addresses a variety of psychological processes, positive and negatives, through to career focused decision theories and impacts on the individual. The important aspect …show more content…
The aspects that will be discussed in the following will assess the background of decision theory, frameworks of decision and action, factors that influence and difficulties when faced with the indecisiveness. Understanding the decision making frameworks, factors such as genetic makeup, personality, environmental and emotional impacts that influence our decisions will provide insight on counseling strategies, preventative or institutional development.
The process an individual goes through to make a decision is a complicated one. Deciphering the system one needs to look at where the theories started and how they evolved. The expected utility theory (EU theory) otherwise known as the Decision Theory that is essentially weighing the options and determine the maximum value (compensatory) under the assumption an individual is a rational being. The possibility of loss can be compensated by a potential large gain (Busemeyer 2015). It evolved to add inclusions for rank dependent utility (RDU) to compensate for the violation of the independence axiom or rule that originated in the EU theory. The independence axiom or contingency is best understood as the third option that is presented independent to the first two, but does not influence the order of preference that was established prior to the introduction of the third
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Most of us have to make decisions from the time we wake up until the time we go to bed at night. Answering questions like what should I eat for breakfast, can I make that yellow light and should I go to the gym or go out for pizza all require us to make a choice or a decision (Robbins, S.P., Judge, T.A., 2009). At work I am challenged with collaborating with managers and other leaders to make decisions based on scenarios and events that occur in the hospital.
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 in the workforce is a process of responsibilities used by upper management to implement, enforce rules, regulations, and maintain a successful environment. Decision-making implemented more effectively by making a plan, thinking it through, accepting more than one opinion and determining what is best. However, decision-making often utilized more effectively by opening doors of opportunities for a suggestion, question, discussion, and feedback. Although, more involvement helps improve understanding, utilize behavior skills and present opportunities for better communication. Everyday life consists of decision-making, the right decision may not always be applied, but ensure room for improvement and opportunity. Individuals approached decision-making in many different ways. As stated by (Jones, Graham, & Bateman, 2006) decision making is a procedure used to recognize a problem, weigh the alternatives and evaluate a solution in which, certain situations will require different approaches to become effective.
People should make decisions every day, some of those decisions are easy to make, while others are quite difficult to implement. An appropriately combined and organized decision-making process will help to control this issue and bring a positive outcome for those involved. The decision-making process may become challenging for people due to “the lack of structure and entail risk, uncertainly and conflict” (Bateman and Snell, 2012, p. 86). That is why people trying to make important personal or professional decisions should have an appropriate model to follow in order to avoid these challenges. Bateman and Snell identified six steps or stages of decision-making process
For the most part, our decision-making processes are either sub-conscious or made fairly quickly due to the nature of the decision before us. Most of us don't spend much time deciding what to have for lunch, what to wear, or what to watch on television. For other, more complex decisions, we need to spend more time and analyze the elements of the decision and potential consequences. To assist with this, many people employ the use of a decision-making model. Utilizing a
Every action a person takes is the result of having thought about what it is they think they should do and then doing it. Life is riddled with problems that require solving. Decisions are complex matters that require careful judgment and problem analysis especially when one is in a role where others look up to them and are affected by their decisions.
There are many of factors influencing your decision making process either in a positive or a negative way. In addition to what is already determined by your genes, according to various sources the following biological and psychological factors play an important role.
In today’s economy, decision-making skills vary for each household; however, the bottom-line goal for every individual is to get the most for their money. In order to do this, there are 4 principles of individual decision-making: facing trade-offs, evaluating what one is giving up to obtain their goal, thinking at the margin, and responding to incentives.
There are a number of reasons how an issue of an individual’s capacity has an effect on them making an informed choice including: physical health, mental health, religion, social class, the law, financial support, family support. Even though the list is endless, it is dependent on the individual and their personal situation which will determine the choice they make. The issues which may occur for someone making a decision may influence how an individual makes an informed choice, a few examples are:
Decision-making is always critical in people’s day-to-day lives. Individuals have to make choices between the very many options they have at their disposal. In doing so, sound judgement is needed, accompanied by much sobriety (Fay, & Montague, 2014). However, in trying to make sound decisions people always base their opinions on certain reference points. In fact, psychologists have generated much data, which shows that people rely so much on the pieces of information that they get to the extent that their judgement is affected. This usually presents the challenge of not making the best decision (Kansal & Sing, 2015).
Decision-making can be a cognitive process of selecting a course of action form various options. Some of us are logical. Some of us are risk taking. Either way such characteristics play a role in our decisions. In my experience decision-making can
Improving your understanding of your own decision-making process can boost the understanding of these complex frameworks and how they relate to each other. The more you understand about your personality and ability to make decisions, the better you will become in using your strengths to your advantage.
The importance of decision making in individual daily life and in organization level was demonstrated by two scientists, Arkes and Hammond (1992), in ‘Judgment and Decision making’ indentified the four types of information which decision maker requires constructing a decision tree.