Decision-Making Techniques
According to Mardani et al. decision making is a process that all humans are expected to carry out many times within their daily activities to choose among several possible actions, the most correct measured by profitability or reward(Mardani et al., 2018). Such choices may result in events that may be positive or negative to the individual, with the need to, therefore, understand the situation, the critical decisions and the need to prepare in advance for unpleasant situations based on such decisions.
In discussing decision making, the critical question is therefore associated with the ability to accurately forecast the future and to understand to what degree of certainty such a decision represents for the entity in question. Hence, decision-making techniques can be broadly categorized into four groups(Dermott, 2019):
- Rational
- Intuitive
- Combinations
- Satisficing
- Decision Support systems
- Recognition-primed decision making
While the techniques as mentioned above are apt in individual decision-making scenarios, the same is not correct when deciding part of the group since the dynamism becomes even more complex with several dependencies. Decision making in a group is not easy; for example, group polarization, groupthink and refusal to reach a consensus may influence mutually acceptable decisions without consideration for better alternatives. Hence, knowledge of group decision-making techniques is key to organization performances since decisions have a direct linkage between profit, lost and sustainability(Sarkissian, 2019). Some examples of group making techniques are as follows:
- The Delphi Method
- Bain’s RAPID Framework
- Hartnett’s Consensus-Oriented Decision-making Model
- Brainstorming
- Dialectical Inquiry
- Polling
- Nominal Group Technique
Brainstorming and Delphi methods are some of the known group decision-making techniques available for the generation of ideas, estimating the likelihood of events and sometimes estimates events outcomes as well and brainstorming as group decision-making techniques are designed to increase the range of ideas and solutions available for the group’s exploration. Although the techniques are not fundamentally focussed on a clear decision in itself but support the production of numerous ideas which can be evaluated for a better choice since all alternatives are assumed to have been considered(Veerman, 2017).
On the other hand, the Delphi technique is a method used to estimate the likelihood and outcome of a future event or situations. A group of knowledgeable persons is allowed to assess and independently determine and give their assessment to a group facilitator who in turn reviews it for the summary report(Haughey, 2019). Unlike the brainstorming approach, the Delphi is more result oriented with the facilitator supporting the group to reach an agreeable consensus on a particular future event.
Conclusion
In life, decision-making is an everyday task which sometimes happens without our conscious efforts and even more difficult in group situations when dealing with different people and opinions. If we are to reach profitable decision points, investment on what decision-making technique to adopt for the particular case is recommended to avoid surprises by the outcome of future events.
References
Dermott, D. M. (Producer). (2019, April 23). Types Of Decision Making. Decision making Confidence. Retrieved from https://www.decision-making-confidence.com/about.html
Haughey, D. (Producer). (2019, 04 23). Delphi Technique: A step by step guide. Project Smart. Retrieved from https://www.projectsmart.co.uk/delphi-technique-a-step-by-step-guide.php
Mardani, A., Nilashi, M., Zavadskas, E. K., Awang, S. R., Zare, H., & Jamal, N. M. (2018). Decision-Making Methods Based on Fuzzy Aggregation Operators: Three Decades Review from 1986 to 2017. International Journal of Information Technology & Decision Making, 17(02), 391–466. doi:10.1142/s021962201830001x
Sarkissian, A. (Producer). (2019, April 23). Different Techniques in Group Decision-Making. azcentral. Retrieved from https://yourbusiness.azcentral.com/different-techniques-group-decisionmaking-17366.html
Veerman, E. (Producer). (2017, 09 17). 4 great group decision making methods. GAIKU. Retrieved from https://gaiku.io/blog/group-decision-making
