Logical Selection of Reasoning and Facts in Rational Decision Making

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RATIONAL DECISION MAKING Rational decision making is a decision making model that involves the logical selection among possible choices that is based on reasoning and facts. In a rational decision making process a business manager will often employ a series of analytical steps to review relevant facts observation and possible outcomes before choosing a particular course of action. Rational decision making can also be termed classical decision making. Rational decision making is part of the normative or prescriptive decision theories where there is a preset way of making decisions, i.e. norms, standards, and policies already in place are used as a criterion or base line for making decisions. Decision making models and approaches have…show more content…
The term Garbage Can indicates something that contains problems, solutions, participants, and opportunities that float round. Once all these factors have been united a decision can be made. Timing in this approach is crucial since one can say that the right participant must find the right solution to the right problem at the right time. - Political Approach This approach suggests that the primary motivation of decision makers is to advance personal preferences, based on organisational goals. In each step the decision maker is perceived as using the opportunity to influence the final decision and hence promote their own personal preferences. In his article, The Ethics of Decision Making; Kenneth E Boulding states that, “The ethical interest impinges on it at two points. It impinges even in the first stage when we ask ourselves, how we come to know the range of possible alternatives, for there may be alternative ways of coming to know alternatives, and we have to make some kind of value judgment among them. At the second stage of the decision making process, in which the alternatives are subjected to value ordering, the ethical interest is clearly implied, for one of the major concerns of ethics is the evaluation of value orderings themselves.” Rational Decision Making Steps As already mentioned there are five basic
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