Pick two principles of good decision making and explain what they are.? myus wil

Question

Pick two principles of good decision making and explain what they are.?

myus will usually solve this problem. 4.3 How Do You Achieve Decision Quality? Even though there are many traps that teams and decision makers can fall into, achieving decision quality can be accomplished. By using deci- sion analysis, you are incorporating quality into the decision by thoroughly examining the problem and evaluating the alternatives. Below are ten prin- ciples of good decision making which if followed, will ensure quality in your decisions. The Ten Principles of Good Decision Making 1. Use a value creation lens for developing and evaluating opportunities. 2. Clearly establish objectives and trade-offs. 3. Discover and frame the real problem. 4. Understand the business situation. 5. Develop creative and unique alternatives. 6. Identify experts and gather meaningful and reliable information. 7. Embrace uncertainty as the catalyst of future performance. 8. Avoid "analysis paralysis" situations. 9. Use systemic thinking to connect current to future situations. 10. Use dialog to foster learning and clarity of action. These ten principles provide the overall framework for making good deci- sions, but we must also have constructive interaction between the project team and the decision maker(s). We accomplish this by establishing inter- action points during the decision analysis process that act somewhat like quality stage-gates. Both the project team and the decision maker or Lead- ership Review Board must agree that each stage of the process has been completed before continuing on to the next stage. In Figure 4.6, I have identified these interaction points and the responsibilities of each team. These interactions must occur if you are to achieve clarity of - and com- mitment to action.

Explanation / Answer

Principles of good decision making :-

There are various principles which helps a business to take the right decision for them.

3) Discover and frame the real problem :-

For solving a problem it is very important to first identify the correct problem. Many companies starts solving problem without properly discovering them. And this lead to waste lots of resources and opportunities. So, it is first important to discover the problem and then framing it.

Framing the problem means structuring the problem in such a way that it will be easy for the organization to describe the context of the problem and understand it.

8) Avoid "analysis paralysis" situation :-

Analysis paralysis is the state of being overwhelmed during examing and evaluating the data and other factors for a problem. But this analysis is unable to make any decisions. So it is called analysis paralysis.

Organization need to avoid these kinds of situations. They first need to differentiate between the small and big decisions and make sure that every big decisions impacts the decision making process. Also to eliminate the bad options first is the best way to avoid "analysis paralysis" situations. Setting a time limit to evaluate those factors for the problem can help the organizations to avoid these situations.

Hope this will help :)

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