Understanding Decision Making: Can Someone Explain These Key Elements to Me?

Hi,

Following are the elements of Decision Making:

1. Goals
2. Information
3. Diagnosis
4. Alternatives
5. State of nature
6. Methodology
7. Values
8. Decision maker's personal philosophy

Is there someone available to explain these elements to me?

Regards

Dear Khalid,

Namaskar.

You have posted a very important topic for discussion. Let us hope it attracts a good response.

The first thing is that the elements you have posted are not defined. This may lead to guesses. For example, your first element "Goas" is beyond my comprehension. Could you please elaborate on the meaning of each element to attract fruitful discussions?

To me, the decision-maker is always caught between two horns - the survival need of the decision-maker and the demand for justice. If the former is stronger, then the decision is likely to be compromised, but if there is no threat to survival, then the demand for justice prevails.

Regards

Dear Jogeshwar Mahanta,

Hi,

The word "goasl" is misspelled. The actual word is "goals," which means aims, objectives, purposes, outcomes.

Goals:
First, goals should be determined. Goals to be served include personal, institutional, professional, national, etc.

Information:
It is a common word. The quality and quantity of information both play an important role in decision-making.

Diagnosis:
Here, it means problem recognition, felt difficulty, or a sense of trouble.

Alternatives:
Creating and structuring alternative solutions to the problem.

State of Nature:
Decisions are made under conditions of complete certainty, complete uncertainty, or some point between these two boundaries. Techniques and methods used to solve the problems differ according to where the problem lies or appears to lie.

Methodology:
Which method should be used to solve the problem?

Values:
Values of both individuals and organizations are the basic elements of decision-making. Individuals hold values connected with moral, cultural, religious, social, economic, etc., which are influenced by the system and goals of organizations in which the individuals function.

Regards,

Hi Khalid,

Namaskar.

It appears that your decision-making parameters aim to satisfy the survival needs of the decision-maker. Let me share a quote:

"A person's perspectives, his interpretation of units and segments of experience, as well as totalities in life, are gravely affected by his interests and attitudes." - Charles Skinner

Regards