Decision Making is the process of selecting the best course of action from multiple alternatives to achieve a desired outcome or solve a problem.
| Approach | Key Features | Strengths | Limitations | Best Used When |
|---|---|---|---|---|
| Rational Decision-Making | Logical, step-by-step, evaluates all alternatives | Objective, thorough, maximizes outcomes | Time-consuming, assumes full information | Structured problems with clear data |
| Bounded Rationality | Limited information and cognitive capacity, satisficing | Realistic, practical | May miss better alternatives | Real-world, routine decisions with constraints |
| Intuitive Decision-Making | Based on gut feeling and experience | Fast, efficient in uncertain conditions | Subjective, may lead to bias | Unstructured or time-pressured environments |
| Garbage Can Model | Random mix of problems, solutions, and participants | Reflects chaotic real-life decision environments | Unpredictable, lacks rational structure | Ambiguous or loosely structured organizations |
| Political Decision-Making | Influenced by power, coalitions, and negotiation | Addresses hidden agendas and interests | Can lead to conflict or manipulation | Large firms, government, or political settings |
| Incremental (Muddling Through) | Small, gradual changes rather than bold decisions | Low risk, flexible, adaptive | May lack innovation or vision | Complex, evolving situations |
| Participative / Group Decision | Involves team or stakeholder collaboration | Diverse input, better acceptance | Time-consuming, potential for groupthink | When consensus and buy-in are important |