Decision-Making Process

Decision-Making Process

MGT/230 Management Theory Practice (AXIA)

September 10, 2012

Decision-Making Process

Decision-making is something that some people do not take very lightly. Sometimes it is not a fun task to take on. There are times when decisions cannot be made in a few minutes. Some decisions must be considered thoroughly or it may cause a conflict with others involved. There are times when alternatives should be considered, implemented, and committed to in the decision making-process.

July 1, 2010, a decision that I had to make was purchasing my home. It was a difficult decision because there was the possibility of me being let go from my job in the next few months. The timing was right for purchasing my home. First thing I did was to organize my bills confirm exactly where I was. Second thing I did was to plan my income should I be let go from by job, to see if I were going to have enough money if I were to become unemployment. Third with the purchase of a home come repairs and my thought was I going to have enough funds in case something major happened that needed repairs. Fourth was that I would be saving money because my house payment would be lower than the rent I was paying. Fifth is the area the home. This was not a problem. It is in a 55 or older community. Other members of the community are retired so someone is around most of the day. The other thing that I thought about was that the home was centrally located and would not take me long to get to work and if I were let go from my job, I hope I would be able to find another job soon.

The decision-making process was very similar to the reading in our textbook, Management: Leading & collaborating in a competitive world, written by T.S. Bateman and. S.A. Snell (2011). I reviewed the alternatives in my decision-making for purchasing my home. I did find several solutions to help me make my decision on this big purchase. I do believe that my outcome of my decision would not have been any different because I used a similar process that was in out textbook.

The outcome was I purchased my home. I have been living here for two years, and one-month now and I did survive a lay off. Although I was off, I did get some paining done and yard work that was desperately needed.

When making a decision, especially a good one, it takes time. "Good decision-making requires not only knowing the facts, but understanding the limits of your knowledge. The most valuable insights are often found in exploring uncertainties and "disconfirming" information" (Hoffberg & Korver, 2006. par 1, p 8). To avoid any conflicts, it would be a good idea for a person to evaluate and review the problem along with the alternatives before