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Decision making and problem solving

Prepared

By

Dr.D.Hema

Assistant Professor of Economics

CPA College, Bodinayakanur.

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Introduction

  • Decision making and problem solving are critical skills in both personal and professional contexts.
  • They involve identifying issues, generating alternatives, evaluating options, and implementing solutions.
  • Below is a structured overview based on various presentations.�

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Key Concepts�

  • Decision Making: This is the process of selecting a course of action from multiple alternatives. It often involves assessing the implications of each option to choose the most beneficial one.
  • Problem Solving: This refers to the systematic approach to identifying a problem, analyzing it, and finding a solution. Problem solving typically includes decision making as a final step

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The Decision-Making Process�

  • Identify the Problem: Recognize a discrepancy between the current state and desired state.
  • Gather Information: Collect relevant data to understand the problem better.
  • Identify Decision Criteria: Determine what factors are important for making the decision (e.g., cost, feasibility).
  • Develop Alternatives: Brainstorm possible solutions without evaluating them initially.
  • Evaluate Alternatives: Assess each alternative against the decision criteria.

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Continue…

  • Choose the Best Alternative: Select the option that best meets the criteria.
  • Implement the Decision: Put the chosen solution into action with a clear plan.
  • Evaluate the Decision's Effectiveness: Review the outcomes to determine if the problem was resolved effectively

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Techniques for Improving Decision Making�

  • Brainstorming: Encourages creative thinking and idea generation without immediate judgment.
  • Delphi Technique: Uses surveys to gather expert opinions anonymously, leading to consensus on decisions.
  • Nominal Group Technique (NGT): Involves structured group discussions where ideas are generated and evaluated collectively

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Barriers to Effective Problem Solving�

  • Irrelevant Information: Distractions that do not pertain to the problem can hinder decision making.
  • Functional Fixedness: A mental block against using an object in a new way
  • Mental Set: Relying on past experiences may limit creativity in finding solutions.

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THANK YOU