Rational Decision Making Process - 2753 Words

CONTENT Abstract 1.0 Introduction 1.1 Steps to Problem Solving Process 2.0 Defining Problems 2.1 Problem Statement 3.0 Identifying Decision Criteria 4.0 Allocating Weights to Each Criteria 5.0 Developing/Generating Alternatives 6.0 Evaluating Alternatives 6.1 Potential Solution Evaluation Checklist: 6.2 When should you evaluate potential solutions? 6.3 Criterion – weight matrix 7.0 Selecting the Optimal Decision/Alternatives 7.1 Selection of alternatives 7.2 Pros and Cons 8.0 Implementing the Alternatives 9.0 Evaluation the Decision Effectiveness ABSTRACT This report will discuss about the approach to rational decision making process. It discusses how an everyday problem faced by management can be tackled by using†¦show more content†¦To identify the real problem the manager conducted a brainstorming session with human resource recruitment team to identify the root causes of high cost per hire. After analysis and discussion it is discovered that the root cause is due to inefficient hiring process and current criteria not meeting the industry standard. Furthermore, contact center is the least favourable career path option for fresh graduates with high turnover rate. Therefore, the problem statement was such: Based on January 2010 to December 2011 Human Resource analysis, it is observed that cost per hire for a Call Center Representative (CCR) is at RM900 with turnover rate of 80% per year. This is an opportunity to reduce the cost as well as the turnover rate, hence, increase the overall cost efficiency. 3.0 Identifying Decision Criteria Once a decision maker has defined the problem, he or she needs to identify the decision criteria that will be important in solving the problem. In this step, the decision maker is determining what’s relevant in making the decision. This step brings the decision maker’s interests, values, and personal preferences into the process. Identifying criteria is important because what one person thinks is relevant, another may not. Also keep in mind that any factors not identified in this step are considered as irrelevant to the decision maker. In our case study, the manager has now identified the following criteria to combatShow MoreRelatedThe Rational Decision Making Process1630 Words   |  7 PagesA rational decision implies that a qualitative and considered thought process was undertaken in order to reach an optimal outcome. Although there are defined rules that add structure to the rational decision making process (Tripathi PNP 2007; Williams, McWilliams 2013), according to contingency theory and with respect to the rationality paradigm, there are limits to which an optimal outcome is realised (Morgan 1986, p. 167; Schoonhoven 1981, p. 352). 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