Good and right decisions in a right situation are the heart of a great success. Due to this reason decision making processes play a vital role in achieving a great progress for any organization or business. They help in making such improvements and preferences which can result in attaining the higher goals and aims. They help in overcoming the risks and great losses. The Decision making process model includes five stages: knowing the need to adapt to changes in the business environment, offering proposals on how to adapt to these changes, creating guidelines or standards for choosing the best proposal, assessing all the proposals and selecting one proposal.
Decision making can be of various types but a good decision making skills are the foundation for life and businesses. Therefore, to increase the standard and quality of decision making processes there are several decision making models which help to make correct and useful decisions for the organizations. These models play a significant role in solving the problems.
1: Pure Rationality Model:
The most popular and important decision making process is the Pure Rationality Model.
This is also known as the classical model of decision making and is a prescriptive approach. This is the most rational decision making model because it allows the decision makers to make a cognitive judgment of the pros and cons of the various options. It makes the decision makers to choose the most logical and sensible alternative and achieve the highest efficiency. The Rational decision making models have further specific types which include Bounded Rational Decision Making Models and Vroom-Jago Decision model.
2: Bounded Rational Decision Making Models:
This is a less rational model than pure rationality model. In this model the decision makers or managers are exhibit with the bounded rationality. They considered the fewer options than are actually available. Among them they have to choose the best option. This model helps the managers and decision makers in selecting the appropriate choice in the given circumstances.
3: Vroom-Jago Decision model:
This model was basically created by Vroom and Yetton in 1973 and later modified by Vroom and Jago. (Colin and Gruen, 2006).
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This model has series of seven yes or no questions which explain the important criteria. It distinguishes five different situations which than indicate the managers and help in determining which one to use. This model makes to handle the situation in a very great manner.
4: The Ultimate Decision Making Model:
This model gives the decision makers to make the decision in a very short time. It allows them to rapidly collect, think and assimilate the available information and think about the past experiences. By this the decision makers can quickly and easily decide what to do and what will be the right decision for the situation.
5: Incremental Decision Making Model:
This is developed by Henry Mintzberg. This is less rational model in which decisions are made by comparing several immediately available alternatives (Raynard, 1997). The incremental decision process model emphasizes the structured sequence of activities leading to the solution to a problem. This model is generally used by the firms which are developing new products. This model usually focuses on the political factors. This model is also used by the consumers who are willing to purchase the products. This model helps the consumers to make that decision which will be profitable for them
6: Recognition primed decision making model:
This model is developed by Gary Klein in 1985. It is about the making quick and effective decisions in very complex situations. In this model, the people or decisions makers are allowed to present a possible course of actions. After generating them they select that action which is not rejected. The greatest benefit of this technique is that it is rapid and makes the decision makers to take decision in the unusual circumstances. This model is applicable in the organizations which serve emergency services such as fire fighters, search and rescue units, police and etc (Lindley, 1991).
7: Intuitive decision making model:
This model is of great importance as in this model decision makers go with that option which satisfies their emotional reactions. This model is difficult to apply in group because different people have different intuitive perspectives for a single situation.
This model is far more than the common sense. It can be said that decision makers use their sixth sense which mostly go in favor of them. The biggest advantage of this model is that by adopting the option which satisfied them, the decision makers get motivated and go their best in achieving their goals but the serious drawback or this model is that sometimes the decision makers made their decision on inaccurate or incomplete information. So to get a meaningful and successful benefit there is a need that the qualified people must be appointed to the decision making processes so that there will not be a risk of choosing and making wrong decision.
Therefore, by adopting the above mentioned decision making models the managers or decision makers of the organization can perform their responsibilities in a more better and efficient ways. These are very helpful in problem solving and lead the organization towards the progressive path. By understanding the decision making models in a proper way, the managers can effectively convey their ideas, views. Due to which they can easily promote group efficiency and save time and gain their specified goals.