Assignment: Applying the Rational Decision Making Model
In this assignment you will choose one of the following Decision Making Examples, or develop one of your own. Some are oriented towards management decisions others towards career development. The point of this exercise is less about the actual decision (conclusion) but following the 8 steps of the process. Feel free to make the exercise ‘your own', if you would like to add specific detail that might be more relevant for your situation and experience.
1. Should you keep a client you cannot give results to?
2. Should you keep a long-time client who requires excessive time and resources and doesn't generate the level of revenue as many new clients?
3. Should you fire an under-performing employee?
4. Should you take a management position in your company vs staying on the ‘front lines' and/or in ‘hands on implementation'?
5. Should you change cities, in order to downsize and reduce cost of living?
6. Should you (you=singular, one person or plural, a couple) outsource preschool aged day care or accept a leave of absence to attend full time to a school aged child (or children)?
7. A decision making example of your own: Be sure to either email your instructor or post to the Ask the Prof discussion area with your proposed example BEFORE beginning the assignment.
Rational Decision Making Model:
Write a paper that lists the 8 steps and applies them to the problem in one of the scenarios above, giving your response for each step.
Your paper should contain the following:
• An introductory paragraph briefly explaining what is to follow
• A short 3 to 4 sentence paragraph for each step in the model that explains what you do and then explains why that step is important in the decision making process.
o For example, in Step 2, Establish Decision Criteria, you would tell what criteria you will use to come to your decision about what to do and then you will explain why it is important to establish decision criteria.
• Strengths and Weaknesses (Limitations) of the model: As a part of the Critical Thinking component of the assignment, include a paragraph on strengths and weakness (limitations) of the model for decision making.
• A short conclusion paragraph about how the model helped you come to the decision and be able to evaluate your decision (or not).